How to Maximize Rental Value of Your Residential Property?

Real Estate Agent with Velva Dunn

Real estate investments are meaningful to property owners, and they continuously look for affordable and innovative ways to maximize their property value. Taking care of the necessary plumbing, electrical, and insulation repairs, changing the house look by adding or removing a wall or a room, and adding functional storage always improves any property's value. 

Homeowners should also emphasize the curb appeal of the house by making the exterior look inviting and rich to gain more prospective clients. 

House comparison with competitors 

Always read the other houses' listings with similar rent in the adjacent areas and note their essential plus points like a huge garage and well-maintained garden. Check your property for the same features and upgrade whatever is necessary, like installing a simple lawn and bringing in potted plants, upgrading the garage door to make it look elegant, etc. 

Seek the help of affordable property management services that will give you plenty of ideas regarding the necessary facilities the tenants expect in each house. APM property management helps rental owners to improve their property value without spending much on attracting suitable clients. 

Ensure smooth functioning of basic fittings 

Fix the leaky roofs, upgrade the bathroom and kitchen faucets, and ensure the house's basic plumbing, heating, and cooling systems are working fine. Hire a professional company to thoroughly clean the property and fix the breakages in the furniture, wall, and flooring. 

Pour new concrete outside to give a smooth finish to the driveway and paint the exteriors. Remove the old rotten siding and install new ones to provide a fresh exterior look to the house. 

Always try to repair and fix the requirements to make them function smoothly instead of replacing them right away. Consult an experienced property management company if you can't decide regarding replacement or repair. 

Exquisite bathrooms and exclusive kitchens

Most tenants look for comfortable bathrooms and modern kitchen amenities that give a rich look to the entire property. Install stainless steel washer and dryer, dishwasher, and refrigerator in the first place. Use peel and stick stainless steel sheets to maintain the sleek look and scratch-free finish of old stainless steel items if they are working fine. 

Use glass sheets or color-coordinated glossy sheets on the storage, tea tables, and curtain walls to give a vibrant look to the property. Clean the bathrooms thoroughly, add new tile if required, and use epoxy paints on the bathtub and sink to make it look new. 

Tips to revamp the entire look 

Replace the kitchen cabinet handles, clean, paint and varnish the cabinets to make them look like a new installation. Several readymade storage models, from cast iron shelves to modern wood shelves, are available for a good bargain online. Go through some sleek kitchen shelves pictures online and select a model suitable for the new kitchen. 

A single new storage addition can alter the entire look of the kitchen. If necessary, modify the building's look by removing walls to make the property bigger and add extra windows for better lighting. Change the furniture, upgrade the fireplace and add new blinds and glasses to the existing windows to make them look novel. 

Concentrate on flooring and lighting 

Try to avoid carpets and install hardwood floors in the first place to create good property value. They are easy to clean and tint with new colors while refinishing to match the new tenant's taste. Seal the floors properly on all the sides to avoid leakage and small insects entering the house. 

Good lighting is essential to enhance the look of all the changes done to maximize property value. Install new lights or clean the old ones well after the tenant had left, change the switch sockets and place creative stickers beside them. Add extra lighting to increase the grandeur of the house, both indoors and outdoors.

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