How to Improve Your Rental Property and Increase its Value
Like any other rental property owner, you want to get the best value for yours. You also want to see that your rental property is well maintained and appealing to potential tenants. Additionally, you want to have the best tenants renting your property, those that know how to take care of the place, are considerate to neighbours, and pay rent on schedule. For your part as a rental property owner, there are certain investments you may have to make to attract the right tenants and improve the condition and appearance of your property.
To ensure that the best tenants rent out your property, you also need to make sure that they find the property worth the money they will be paying for it. One of the best ways to do that is to check out Showhome Interior Design professionals for improvements you can make to increase the value of your rental property.
Upgrade kitchen and bathroom fixtures
Kitchens and bathrooms are two of the most-used areas of any home. Potential tenants will want to see that they are well-maintained and look fresh and welcoming. Fixtures such as sinks, taps, and others deteriorate quite quickly and are eye-sores. Outdated fixtures can turn off renters immediately. It is the landlord’s responsibility to upgrade them and offer possible tenants modern fixtures. Bronze finishes, for instance, are appealing to the eyes and can be useful in attracting good tenants. It is also best that whatever fixtures are installed fit well into the property’s decor.
Change the flooring
The floor may be one of the most neglected parts of a property. The problem is that floors affect the appearance of the whole house. Just like fixtures, they too need to be replaced if they look worn-out and drab. From the living room to the bathroom, you need to ensure that the floors are in their best shape or replace them with new ones. If possible, replace carpets with wood or tile, so they are easier to maintain. Carpets accumulate dirt and dust quickly and are more challenging to clean.
Add more storage
For most renters, additional storage is always welcome. They are willing to pay a little more than they would for rent when they see that they have enough storage for various belongings, to keep them out of sight. Even extra hooks for hanging clothes in bathrooms or for keys on the property’s entryway are appreciated. Renters will want to have enough living space, and more storage areas in different areas of the home will ensure that they do.
Repainting the property gives it a brand-new look, which most renters will be attracted to. When a tenant moves out, new tenants will want to feel that the place is their own. By repainting, you remove traces of the former occupant. Keep in mind, though, that the colour scheme should be based on neutral shades, to complement any type of decor the new tenants will bring in.
You can get more from your rental property by maintaining its upkeep and making the necessary improvements to add to its appeal and worth.