Tuesday, September 11, 2012
Increase the Value of Your Rental Property
property management company, landlord, or tenant, simple fixes can greatly up your rental property's appeal no matter what your budget is. Here are a couple changes you can make to increase the value of your rental property:
A fresh coat of paint can drastically change the look and feel of your rental property. Painting can be a relatively inexpensive way to update a room. Check close-out stores which typically have a decent selection of basic interior and exterior colors at lower than average prices. To cut costs on painting, purchase flat or semi-glosses finishes over high-gloss. High-gloss paints typically require more coats, which is not necessary for sprucing up your rental property.
If you have windows on your rental property that are in need of an update, consider installing storm windows over the pre-existing ones instead. If you're a pretty handy renter, property management company, tenant or landlord you may be able to install the storm windows by screwing the tracks into the frame. Aside from the windows themselves, you should also consider putting in some sort of blinds or window covers. While some renters may not want window covers, they are easy to remove if unwanted. When it comes to window covers there are quite a few options such as venetian blinds (which can be difficult to clean and tend to break easily) or stained-glass appliques (which provide privacy and go on and come off very easily). You could always put up shades or curtains, which may be the best route.
Kitchen & Bathroom Remodel:
It is said that the kitchen and bathroom are the two most important rooms in a homeowners house. Putting a little time and some money into a rental property's kitchen and bathroom can greatly increase the value of your rental property. Again, close-out stores are excellent resources for discounted flooring and other material needed for a remodel. If you are in need of some relatively new appliances and obviously don't want to break the bank, you could consider checking the scratch and dent departments. Scratch and dent departments feature brand new appliances sold at a hefty discount due to minimal damage, hence scratch and dent. It's not a bad idea since you're getting a fully functioning appliance at a fraction of the cost. Second-hand appliance stores may also be worth checking out.
Sometimes the best and cheapest way to beautiful a rental property is by giving it a good, top to bottom, cleaning. Maybe the walls don't need fresh paint after all. Perhaps they just need a good wipe down. Over the years, dirt and debris can collect on your walls, so dingy paint may just be dingy from dust. Your rental property will probably require deep cleaning and some parts of the property may require much deeper cleaning than other parts. You may want to do a little research on great cleaning products that will really get the job done.
Beautify your rental property's outdoor space by doing some basic planting. Doing a little landscaping will give your rental property great curb appeal and is worth some seasonal maintenance. Don't let your rental property's yard be bare. Flowers, such as Pansies, are great to plant as they can survive a frost. Tulips and Day Lilies are cost effective and come back every year, which is great in terms on maintenance in the long run. Put in plants that will enhance your rental property's outdoor beauty, but will require little effort in terms of maintenance.
Whether your the renter, or a property management company, tenant or landlord, lots of little improvements can be made to make a house look more like a home. For more tips on improving your rental property, comment below or contact us.
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