Cost-Effective Ways To Make Your Rental Property Desirable
There are a number of ways with which you can keep your rental property relevant and thriving irrespective of the competition around. However, you do not have to spend a lot in order to boost the curb appeal of your rental. A few smart tweaks and improvements can have the same effect as expensive upgrades.
Here are some economical ideas for improving your rental’s desirability factor:
- Replacements: Consider making some economical replacements that will have a massive impact in transforming the way your rental looks. For example, something as simple as replacing your front door or the cabinet doors in the kitchen and bathroom can instantly make your rental look trendy and modern. If you want an even cheaper option, go ahead and paint them instead.
- Paint: A bucket of paint is a cost-effective option that has the potential to increase your rental’s return on investment. Try buying paint during the holiday season for better discounts and offers and opt for neutral colors such as variations of white and beige. You can also raise your rent by renewing the rental’s appearance with a fresh coat of paint.
- Pressure Wash: Something as simple and inexpensive as a pressure wash can make a huge difference in the appearance of a building. You can hire an expert to help with the job.
- Landscaping: Transform the curb appeal of your rental by investing in landscaping services from a professional. It will not cost much but will surely add immense value to your rental. All you need are some seasonal flowers, plants, pots, rocks and the expertise of a professional.
- New Backsplashes: Backsplashes are another effective way of adding value to rental property. They not only change the entire theme of a room or house, but are also easy to clean and durable. Avoid trendy backsplashes and opt for classic ones instead e.g. white subway tiles.
- Technology: Add some affordable smart devices such as smoke and carbon monoxide detectors, thermostats, door locks, garage door openers, automatic stairway lights and so on. Your rental will stand out from the rest and appeal to the modern convenience-seeking renter.
- Amenities: Provide amenities such as a washer and dryer for the convenience of your tenants. An upgrade like this will encourage quality tenants to stay with you for a longer period.
- Engage An Expert: Hire a property manager from a property management company in your area for advice on cost-effective and trendy options of increasing your rental’s value. Such company also has links with some of the best service providers and can help with negotiating prices as per your budget.