7 Ways To Add Value To Your Rental Property

By
Real Estate Agent with Chapman Hall Premier Realtors

1.Redo the carpets

Carpets are an important addition to any home. They add some style and personality to a bare and uniform floor. Carpets come in many varieties and they can significantly add to the design aesthetic of a room. Not to mention, they feel pretty comfy under slippers or bare feet. It’s hard to imagine a comfortable home without a carpet or two.

Unfortunately, carpets also come with their own set of drawbacks. They attract dirt and dust like no other piece of décor. They’re like magnets for any form of dirt or stain. If you’ve ever had a light coloured carpet, you’ll know how quickly they end up being dirty. Because they accumulate dirt, it’s going to cause them to smell after a while. It’s an unavoidable part of having a carpet in the long term. At some point, cleaning the carpet doesn’t do much.

It’s important that you clean your rental carpets regularly to keep them fresh. Once they’re worn out past the point of saving, you might want to look into replacing them. It’s going to add to the comfort level in your rental and make it more attractive for prospective tenants.

2.Get a washer dryer combo

People like having appliances in their home. The more practical they are, the better. As long as you have a bunch of practical appliances available, you can count on people finding your rental attractive. What constitutes a practical appliance, anyway? If it takes up half a room, you probably wouldn’t consider it ‘practical’. This is why washing machines and dryers aren’t very common options in most homes. You don’t want two appliances taking up space in such an important room. A bathroom needs some space to let people breathe and feel relaxed.

On the other hand, you don’t really need to take up that space with a washer and a dryer. You can get a two in one combo for both of them. A washer-dryer is a pretty nifty appliance. It has the benefit of both without having the drawback of taking up a whole room. They might be more on the expensive side, but you can be sure that people will appreciate having one in their rental.

3.Fix the fixtures

The fixtures in your rental might not seem like a big deal at first. After all, who prioritizes such accessories when looking at a living space? Surprisingly, quite a few people would. The state of the fixtures in your home says a lot about how much effort you put into it. They also speak volumes about the quality of the things you can’t see in the home.

It’s important that your fixtures also work. Light fixtures often have issues if they aren’t set up properly. You don’t want tenants to have burned out lightbulbs every couple of weeks. Instead, it would be wise to upgrade fixtures before deciding to rent out your property. It’s going to add to the value and reduce any potential costs from replacing lighting.

Bathroom fixtures are just as important. If they clog often or look rusted, you’re not going to gain any points for good housekeeping. Have a plumber check the whole place out and figure out whether there are any noticeable issues. If not, you can go ahead and move on to your next worry.

4.Work on the first impression

They say that first impressions are everything. Nowhere is this more prominent than real estate investments. People have a lot of options to choose from. They will always go for the more attractive option that woos them right from the start. This is why you need to make the front of your home look as presentable as it can be.

This means working on the façade most of all. People want to see a fresh paint job that signals that the owner isn’t sloppy. There’s nothing that rejuvenates the look of a property like some fresh paint on the exterior. If it’s a house, make sure that the porch is clean as a whistle. Just because it’s outside doesn’t mean that dust should be allowed to accumulate on the boards. Speaking of the boards, make sure they get a thorough cleaning every once in a while. They tend to absorb a lot of the dirt and stains on top of them, which is why they need to be expertly dealt with. A pressure washer will make it look brand new within minutes.

Don’t neglect the windows! Provide people with a clear view of the inside of the home before they even step through the door. Shiny windows that glimmer will create a glimmer in the eyes of your potential tenants as well.

5.Allow for ample storage

When people move homes, they take a lot of stuff with them. If there isn’t a lot of room to go around, they’ll notice pretty quickly. There needs to be ample space for them to put their clothes, shoes, and accessories. How do you add additional storage to your home without significantly impacting the design or layout of the rooms? It’s not as difficult as it sounds

Practical storage is all the rage nowadays. Let no piece of furniture go unused. Beds that have a shelf beneath them are essential for bedroom storage. They allow people to store away extra sheets, pillows, and winter blankets without having to dedicate an entire part of the closet to it.

If you feel like you’re running out of horizontal space for storage, it might be time to look up. Vertical storage is another great way to save up on space. You don’t have to sacrifice the surface of the room by adding more closets or cupboards. Instead, you just build shelves as long as the height of the room allows it. Shelves can go well with any kind of room aesthetic. You can opt for simple designs that blend in with a contemporary style. If your rooms have a more old-timey vibe, you can make them intricate as you please.

There are no rooms that don’t benefit from some shelves. You can install them in the bathroom, bedroom, or even kitchen. They’re especially useful in kitchens. If someone has a lot of pots and pans and nowhere to put them, a shelf is a good option. You can quickly reach for them and you don’t have to worry about whether or not they fit in a cupboard.

6.Get some useful gadgets

A modern home needs to have modern amenities to justify the name. Anything that makes life more comfortable and cozier should have a place in your rental. Start with the living room. Adjustable lights can add a lot of ambient to a room. They allow people to keep the light level in a room to their liking. This is a very sought-after feature in modern homes and apartments. It makes reading a lot more comfortable. You don’t have to resort to either blinding lights or total darkness.

This change is especially important in the kitchen. Do the stove and oven have timers and alarms? These make cooking a breeze. You can put on a roast, leave it in the oven, and go take a nap without worry.

Coffee machines are another amenity that every working person needs. The machine needs to be able to deliver tasty coffee in a short amount of time. It should also have a few more functionalities. For example, BluePod Coffee Machines make different kinds of coffee when you need them. Other machines might regulate the temperature or sugar content of the coffee. If you can provide a good coffee experience, you can be sure that people will appreciate it.

7.Grow some foliage

Plants are considered an integral part of any home. You can hardly ever go wrong with plants. They are a great addition to a room’s design. There are countless plants out there, which means you never have to worry about matching them to the design of a room. The colour goes along wonderfully with just about everything.

Plants also help reduce stress and anxiety. Just having a couple of leafy plants around your home is going to be enough to keep you from feeling on the edge. This is one reason why it’s important to place them properly so that they are in full view. As long as the plant can thrive indoors, you should be good with putting the pot anywhere.

The garden is an important area for every house. You don’t want to rent a barren backyard to people, do you? It should come with some beautiful plants. Beauty isn’t all that plants can offer you, though. They are remarkably practical things. A hedge can help protect your home and garden from intruders and pests. Best of all, it can do it a lot better than a simple fence. The sharp branches and leaves will stop even the most persistent pest. Edible plants are just as useful. You can also grow some tea in the backyard. There’s nothing like a fresh cup of homemade tea to start off the morning. Just make sure you water them regularly.

Conclusion

When you’re a real estate investor, you want to make your rental into a very desirable option for tenants. This means introducing changes that they will find attractive and practical. At the same time, you need to add value to your property. It might cost you a bit, but it’s a solid investment decision. You will get more offers from prospective tenants that see it as a worthy living space. Consider some of these examples for your rental. You can be sure that your property will become more popular if you put some work into turning it into a dream home.

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Rainmaker
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Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

First impressions do count and having new carpet and amenities is sure to find new tenants wanting to lease.

Dec 02, 2019 02:30 AM #1
Rainer
536,734
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Absolutely great tips! Thanks for sharing! I like this the best!

When you’re a real estate investor, you want to make your rental into a very desirable option for tenants. This means introducing changes that they will find attractive and practical. At the same time, you need to add value to your property. It might cost you a bit, but it’s a solid investment decision. You will get more offers from prospective tenants that see it as a worthy living space. 

 

Dec 02, 2019 03:46 AM #2
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