Easy Ways to Increase Rental Property Value

When owning a rental property, it is important to keep track of the upkeep of your investment as well as ensure all tenants are going to pay rent on time and take care of your property. With background checks and property maintenance software, you can stay on top of these needs.

  • Monday, June 11, 2018

  General   

When owning a rental property, it is important to keep track of the upkeep of your investment as well as ensure all tenants are going to pay rent on time and take care of your property. With background checks and property maintenance software, you can stay on top of these needs. However, over time, your property will begin to age and show signs of wear. It is important to learn how to keep your property fresh and inviting, increasing the value of your investment. Below are a few easy examples of how you can do this.

Landscaping

One of the first things that potential tenants will see when driving up to your property is the landscaping. If you do not have appealing landscaping, then you may lose out on tenants that would call your property home for many years. Grass needs to be trimmed on a regular basis and trees trimmed back as well. If you have a fence on the property, check the fence from time to time to make sure it is straight and in good condition.

Small Improvements without Renovations

You don’t have to complete major renovations in your rental property to have a big impact. Even the smallest of improvements can help to increase the value of your investment. Take the kitchen for instance. Kitchen knobs are an inexpensive way to upgrade the room without spending a ton of money. Spend a little more and upgrade the appliances to really appeal to renters. Older kitchen cabinets don’t have to be replaced but can be painted to create a new look in the space.

Light fixtures and bathroom fixtures like the sink faucet and showerhead are great ways to update your property. Potential renters will be looking at these features to see if you have updated. When they see updated lighting and nice bathroom fixtures, they will know the home has been kept in good condition and be more willing to rent from you.

There are many ways you can update your rental property to ensure your investment continues to make you money. When a tenant leaves, be sure to tour the property and see what changes you can make to see your investment flourish and continue to be appealing to tenants for many years to come.



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