When it comes to attracting potential tenants, smart landlords should never underestimate the power of quality landscaping. Just as with buying a home, people are dazzled by curb appeal.
Landscaping is an effective way to beautify your property and to provide renters with a feeling that they are living somewhere special. It also helps to promote a feeling of security, especially when you install good outdoor lighting that's designed to enhance the landscaping at night.
Investing in landscaping immediately elevates the visual impact of your property as well as the overall property value.
The simple truth is that people are willing to pay more for quality, or even perceived quality. That's why small details matter.
Take a look at the kitchens and bathrooms in your rental units. Upgrade the light fixtures, hardware, sinks and faucets, and replace the shower curtains and showerheads. These touches will increase the visual appeal of the rooms, enabling you to justify charging more for these units.
The same goes for carpet. After all, nothing makes a rental unit look old and dirty faster than worn and dingy carpet. This is an investment that will instantly take years off the appearance of your property.
Most people expect their rental to have a dishwasher. Even older properties. This might be an expense you'd like to avoid, but it will make the property more attractive to potential tenants and increase their willingness to pay a little more each month.
Nothing will improve the appearance of your property faster than a fresh coat of paint, both inside and out. This is another minor investment that can quickly make an older property look much less aged and tired.
Tenants expect as much convenience as possible. Thus they obviously prefer the convenience of doing laundry at home. Installing a clothes washer and dryer in each unit will make them happy and help you justify a higher rent amount.
Do you have plenty of on-site parking? Adding a driveway to your property will make it much more desirable to tenants. It will also allow you to add a bit to their rent each month.
Real estate remains one of the best investment you can make. Fortunately, this guide to maximising your rental return will help you get the most from your real estate assets.
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