Friday, 28 April 2017

12 Least Expensive Ways to Upgrade Your Rental Properties for Maximum Earnings

Here are 12 proven and tested rental property improvements from experts like Real Estate Virtual Tours. Funny enough, owners can put up each of these improvements for under $500.

Real Estate Virtual Tours has been in the industry for decades and has come to know what clients that pay big look out for. Check them out!

1. Enhanced with Trending Colors
Trending colors are everywhere, be it green, pink, gray, beige, or any of the numerous others. They are sure to give your properties that irresistible look clients are begging for. Of course, painting a whole house cost far more than a paltry $500, but this same amount is good enough for creating accent walls and enhancing key rooms.

2. Put New Flooring in Strategic Areas
It is not enough to use vinyl or fix attention on key, small areas of flooring. That will only be good for cheap rentals. Bathrooms and small entry areas also need new flooring as well as replacing old, ugly and worn-out carpets in the bedrooms. With all these in place, the property will go for the highest bidder as there will be more than enough people coming for it, which means more money for the owner.

3. Patch leaking Roof Quickly
Delay can be dangerous. Leaking roof has never been friendly with rentals; it is always devastating. Roof leaks deteriorate asset, skyrocket repair bills, place untold burden on tenants and damage renter belongings. Ultimately, the owner suffers the most. All these havoc can be easily avoided with as little as $500 or even less since one is not changing the entire roof; just a couple of patches and the job is done.

4. Install Smart Home Tech
Little things count, and those things you think are irrelevant maybe all some other persons are looking for and are prepared to pay whatever amount to have them. This is true of trendy new tech. Some renters feel great and at home when their apartments have access to better wifi, smart thermostats and new Google Home devices to mention but a few.

5. Set up a Bar
Some renters give no damn about your properties as long as the atmosphere is filled with much excitement and emotional appeal. Setting up a bar can help achieve this even if it is only a standalone bar.

6. Give Cabinets a New Look
New kitchen and bathroom cabinets cost much to acquire. Old ones can be made to look new by resurfacing them. Your renters will mistake them for new ones and you know what that means - more money for you.

7. Install a Backsplash
One of the factors influencing renters’ perceived value and appeal for a home is the availability of Kitchen backsplashes. This may just be all you need do to move your earnings in the positive direction.

8. Add a Flex Office Space
The number of people working from home is on the increase these days. Adding a flex office space to your property will make it more appealing to renters. Everybody knows working from the sofa slows the pace at which jobs are executed. With a cabinet, pantry and a Murphy bed a flex office space is in place giving you the flexibility of switching from a daily living space to an office within seconds.

9. Give the Garage Some Finishing Touches
A “wow factor” is not difficult to achieve. Just finish garage spaces. It does not cost much to add some flooring, install storage and finished walls. They are some short-cut to adding more value to your properties.

10. Replace Strategic Hardware
Not all hardware in a home needs replacing especially if you are operating a tight budget. The moment you can replace the front door and cabinet hardware, you are set for one of the best returns.

11. Consider Staging the Home
Staging a home cost less than $500, but is a mighty boost for marketing rentals. You may also bring in some temporary rented furniture to make it grand and irresistible.

12. Replace Broken and Worn-out Appliances
Renters place much importance on appliances. You will need to replace broken dishwashers and microwaves. Adding a washer-dryer to the appliances in the home is also a good idea.

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