The housing market has its ups and downs. With a few helpful tips, you will be able to boost the value of your rental property and increase your return on investment if you decide to sell your home in the future. Even the smallest improvements will make your home more attractive and reduce vacancy between tenants.
Create an Inviting Entryway
Sprucing up your entryway will make the home feel more inviting to potential tenants. First impressions mean everything. When your property feels like home it will leave a lasting positive impression. Painting the front door, sprucing up the shrubs, mowing the yard, and adding some color with flowers can make all the difference. Minor improvements to your entryway will ensure that future tenants feel welcomed when entering your home.
Make Everything Shine
Before showing your property, make your property look and feel brand new. Hiring a professional cleaner can really make the difference when it comes to making a good first impression. Deep clean everything and remove all traces of the previous tenants. Polish and shine your appliances to make them appear brand new. Nobody likes dirty grungy kitchen appliances, and your tenants will be thankful to have appliances in good condition.
Choose Paint Colors Wisely
Fresh paint on the interior and exterior of your home can give your property the fresh, new look that renters are looking for. Not everyone is going to agree on the same paint colors, but it is important to choose neutral colors that appeal to the widest range of tenants. Lucas Hall’s article on Amazing Paint Colors for Rental Properties is a great read for owners that are deciding on paint options for their investment property.
Replace Dated Fixtures
New fixtures throughout your rental property can make all the difference. Kitchen and bathroom cabinet fixtures, door handles, and lighting fixtures can become grungy and outdated over time. Updating these fixtures can greatly improve the value of your home by making it look much more modern. The bathroom, kitchen, dining room, and master bedroom are the most important rooms to focus on when replacing outdated light fixtures. When you’re revamping these rooms and light fixtures, installing high wattage light bulbs can help brighten up a dark room and create a more inviting room for renters.