September 25th, 2014
Are your rental properties starting to look a little run down and dreary? Do you want to spruce up and modernize and not spend a huge amount of time and money on major remodeling? Here are some quick, easy ways to improve the value of your property without breaking the bank or your back!
The landscaping around your property is the first thing potential tenants see when they inspect your property. Neat, pretty grounds around a building sends the message that this is a property that is well-cared for.
Keep the grass green and trimmed, plant some bright flowers, and add bark or other mulch around plantings to keep the weeds at bay. Perennials such as tulips or day lilies are inexpensive, continue to bloom year after year, and are the easiest way to increase curb appeal.
A clean, modern kitchen and sparkling bathrooms go a long way toward increasing property value. In fact, kitchens and baths are the number one upgrade that realtors suggest to clients when selling their home. It has the most impact on potential buyers.
This goes for tenants, as well. Walking into a home or apartment with an updated kitchen and clean, new bathrooms has a positive psychological effect on buyers and renters alike.
Replace old, ugly, or outdated countertops and appliances when necessary. Update cabinet doors and drawer fronts. Swap light fixtures that look like they came from a 1970s sitcom. Even replacing faded or stained outlet covers can change the look of a room. It is often the little details that make the biggest difference, and cost the least.
Paint is relatively cheap and is amazingly transformative. A new coat of paint will literally make a room look ten years younger. Scuffs and stains build up over the years, especially in a rental property. These small marks may not seem to stand out, but the eye notices them unconsciously and it sends a message of dinginess and age, even if the room is spotless in all other respects.
Are you tired of those dust-ridden Venetian blinds that are constantly breaking? If you hate them, so will your tenants. Replace them with high quality pull down shades or simple curtains. Not only will they add beauty and style to the rooms, but they are often easier to care for than blinds. You’ll retain the privacy factor and upgrade the room in one fell swoop.
Possibly the easiest and cheapest way to improve the value of any property is to clean it. A good deep cleaning of any home or apartment will improve its value immediately. Don’t overlook things like walls, baseboards and cabinets. Future tenants will look favorably on rental units that are extremely clean and sanitary.
These easy fixes will improve the value of your rental property with very little money or labor. With just a few simple updates and improvements, your rentals will soon be on the most-wanted list in your community.