The time between tenants is a great time to make upgrades to your rental property. Not only will upgrades help to reduce the likelihood of vacancies, but they can even allow you to charge more in rent. Here are some of the best rental property upgrades that you can make to increase the overall value of your rental property.
Consider New Appliances
It can be especially beneficial to obtain new appliances for your rental property. Old, rundown appliances can cause a substantial amount of problems. Repair costs will add up quickly and the frequent breakdowns will significantly damage the satisfaction of your tenants. Replacing the appliances in your property can increase its value and keep tenants far happier. If the property has washer and dryer hookups, offering these amenities can allow you to charge higher rent.
First Impressions Matter
The outside of the rental property is often overlooked by landlords when they decide on rental property upgrades. Unfortunately, this can be extremely detrimental to the building. First impressions will have a huge impact on how easy it will be to rent out your property, as well as the likelihood of keeping your tenants satisfied. Consider having the property power washed and investing in beautiful landscaping for the property.
Fresh Coat of Paint
A fresh coat of paint is an incredibly cost-effective way to improve your rental property. It can help to ensure that the property immediately looks newer and cleaner. This simple upgrade can significantly improve the value of your property.
Though it may seem like an unnecessary expense to make upgrades to your rental property, these upgrades can provide many benefits to your business. Regular upgrades can help to increase the overall satisfaction of your tenants and reduce the likelihood of vacancies. To learn more about some of the best upgrades to make to your rental properties, contact us at the Keyrenter in Fort Lauderdale today!