SIMPLE TIPS TO INCREASE THE VALUE OF YOUR RENTAL PROPERTY.

MAKE MORE MONEY ON RENTALS.

Enhancing the face value to a property is a proven means to justify a higher rent. Fancy upgrades, landscaping and major overhauls can cost a bomb, and do not really contribute to increasing short-term rentals. But these simple tips can add demonstrable value. Make sure to include them with your new leases, and the money will start to come in!

Exterior image: Just drive up to your property and notice the way it looks! A bad first impression can be the first thing to put off potential renters. Focus on the exterior to enhance visual appeal by visual elements like landscaping, patio, and the actual entrance. Front doors are often overlooked, but in fact are one of the first things people notice. Re-painting, oiling the hinges and re-alignment are things you can do yourself. A little detailing on the signage, lighting and frame can make a huge difference. A simple power-wash can take years of the exterior and you will be surprised by how the property looks. A fresh coat of paint to the shutters and windows can add the finishing touch. And make sure the shrubs are trimmed so renters can actually spot the garden hidden away…it is important!

Living area:  Brighten up the living area. Do away with pre-conceived notions of “Neutral is nice” and don’t be afraid to create a feature wall in earth-brown to set off the eggshell walls. A console table or a decorative mirror near the entry can add a nice touch. Invest in a nice light feature to lighten up a dark spot and bring out the hidden space. Consider lining up elegant planters, if you have steps leading up to the entrance. Shine up the window glasses and pay attention to molding. Replace the aging couch and get a couple of rugs to give your property a ‘Lived-in” feel! These will not set you back over a $1,000 but will completely change how a prospective renter views your property. Renters mostly have short-term needs and will go for a house that feels as much like home as possible.

Flooring: Flooring is one of the most noticeable items and its condition is often the reason why rental properties lose demand. Hire a cleaning crew to give the carpeting a professional clean-up. Work out the cost to see if hardwood floors may be an option though maintenance-free Laminated wood flooring can be a cheaper cost- efficient substitute. Hardly takes a couple of days to put in and can last for years! Often your home-furnishing store will offer a rebate on installation and even consider removing debris for you. Flooring should come across new as possible, as it can often be deal-breaker. Decide wisely!

Added extras:  Believe it or not, the condition of appliances can give a strong indication of the state of the property. A 15-year-old, noisy air-conditioner hardly builds up the comfort level, even though it may still work. Busted alarm systems and partially-functioning outdoor lights are not things you want potential renters to stumble upon. You see, renters like to feel they own the house they will live in and new appliances and equipment give that feeling. Make sure to get the pros to go over the HVAC, electrics and plumbing before concluding your next rental lease! You will be surprised at the additional dollars you can command for your rental property, together with peace of mind for both, yourself and renters.

If an “Ultimate Chill-out” pool is the BIG sales pitch, it needs be exactly that. Of course you will need to walk the fine line between thousands of dollars in a new pool, or cheaper repair alternatives, but in the end, your proposition must ring true. Last but not the least, be attentive as a landlord. Renters only want to feel at home, and being reachable is an important aspect of that. Happy renting!