1 / 10

5 Cheap and Easy Rental Value-Booting Upgrades

Find out how to upgrade your rental affordably. Then, you can attract high-income tenants for your property.

ezlordcom
Download Presentation

5 Cheap and Easy Rental Value-Booting Upgrades

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 5 Cheap and Easy Rental Value-Boosting Upgrades

  2. Tenant-Attracting Rentals • Right now the rental market is hot, but that means more rental properties are being built, so more competition is coming and may drive rent prices down. • You can attract better • tenants and charge higher • rents by making a few • (relatively) cheap and easy • upgrades.

  3. Hot Tub It Up • Yes, hot tubs may be expensive to run and a hassle to keep clean, but you won’t be in charge of that. • Most renters will lay down the extra dollars on a residential lease for a chance to rent a home with a luxurious hot tub on site. • Buy used: the price • drops by 50-75% almost • instantly.

  4. Turn up the Heat with a Fireplace • Not only will a fireplace ooze luxury, but it also gives people a comforting right-at-home feeling. • You can take advantage of this by installing a gas fireplace, • which is far cheaper to install • than an inset wood fireplace & • full chimney, and many renters • prefer the minimal upkeep of • gas anyway.

  5. Landscape Away • Since the exterior of the rental property is the first thing potential tenants will see, be sure it is well landscaped. • If the outside looks well-kept and inviting, you’ll already have thinking positively before even stepping into the home. • For ease, try ground- • cover plants like ivy, or • potted plants out front.

  6. Not-Your-Average Locks • Sure, keys are great, but keyless entries make a statement. • The convenience of keypad entry or, better yet, smartphone entry says your property is secure and high-tech.

  7. Dazzle Them with Bamboo • Hard wood floors are popular these days, but bamboo is more far affordable, and • more upscale than laminate imitations. • Bamboo comes in plenty of colors and shades to match your interior design scheme.

  8. Short-Term Expense for Long-Term Income • Consider the return on investment from any potential upgrade. When will it pay for itself in higher rent? • Many of these changes will improve the value of your rental property in case you need to sell or refinance down the road – assuming you screened your tenants well and they don’t ruin the upgrades.

  9. High-Income Tenants Make for Responsible Renters • When you put this kind of time and money into upgrading your rental, you will be more likely to find high-income tenants during your rental screening process. • If they’re willing to pay for such upgrades, they will probably be willing to maintain them, which means your house will stay in better condition.

  10. Advertise and Attract • Once your improvements are made, make sure to emphasize them in your ad. • You should have no trouble • attracting great tenants and earning higher monthly income for • years to come.

More Related