Regularly upgrading your rental property goes a long way toward protecting your investment, reducing tenant turnover, and improving tenant satisfaction. Understanding the best upgrades to make can ensure that you don’t waste your time on ineffective rental property upgrades.
The curb appeal of a rental property has a huge impact on your tenants. When you invest in superior landscaping, it is far more likely that the property will be appealing to tenants. First impressions matter and will help to prevent vacancies from occurring.
2. Replace the Front Door
The front door also has a substantial impact on the curb appeal of your property. By replacing the front door, you can ensure that potential tenants have a better impression of your property. Additionally, replacing the front door in rental properties will ensure that your tenants feel far more secure.
3. Add a Fresh Coat of Paint
Nothing provides a facelift to a rental property like a fresh coat of paint. This affordable upgrade helps to ensure that your rental property looks nicer, cleaner, and is much more appealing to potential tenants.
4. Upgrade your Appliances
Upgrading appliances substantially improves the value of the property. They also help to improve the satisfaction of your tenants. When you upgrade appliances, you will likely reduce the amount of money that you have to spend on repairs over time.
Effective lighting makes a substantial difference when it comes to the overall atmosphere inside of your property. When you invest in improved lighting, you can ensure that the property looks much better.
A clean house is ultimately a house that is far more appealing and looks nicer. It is important to ensure that your rental property is cleaned thoroughly to improve the first impression it makes on tenants. Clean the interior and consider power washing the exterior to improve the appearance of the property.
7. Smart Home Technology
Smart home technology is quickly becoming the new standard for homes. As the rental market shifts to a younger audience, it is likely that smart home technology will be expected in a rental property. Adding this technology to your rental property goes a long way toward keeping your rental property relevant and appealing to tenants.
8. Finish the Garage
A finished garage can be a valuable amenity to offer to potential renters. Not only will this provide them with a safe place to store their vehicles, but it can also be used to extend their available storage space.
Here at the Keyrenter in Elite, we are dedicated to providing you with superior services when it comes to managing your rental property. Contact our experts at Keyrenter in order to identify the best upgrades for your property.