Economic Ways to Improve Your Property’s Appeal
Are you looking to give your property a good spit-shine in order to attract high-paying tenants? For many landlords, a few well-placed renovations can go a long way towards increasing revenues and occupancy. Mortgage loan broker David Haley offers the following tips for planning a profitable renovation for your units:
- The Kitchen: It has been observed that the kitchen is one of the most important things that potential tenants look at when considering a rental property, and is therefore one of your best investments. Even small improvements, like replacing the faucets in your sinks, installing new track lighting, or throwing down an inexpensive laminate countertop can do wonders.
- The Bathrooms: Bathrooms are high on the list of what renters look at when considering a unit, right up with kitchens. Re-grouting or replacing old tiling keeps the room from looking unsanitary, and replacing old towel racks or toilet seats are easy ways to improve on the look.
- The Front Door: One of the first things a potential renter will notice is the door they enter through. This door represents a big part of how secure their home will be. If you cannot afford to replace an old door, consider repainting it or replacing the handle and lock.
- Flooring: A good floor can make or break a home’s aesthetic. If you have carpeting, consider putting in laminate flooring. It’s a cheap alternative to hardwoods, and can save you thousands in maintenance over the years. If you prefer to keep your carpeting, you should at very least have it professionally cleaned.
- The Exterior: Curb appeal is a big factor. Sometimes, it just takes a bit of cleaning and basic maintenance. Manicure the lawn, get rid of any rusty furniture or garden tools, and give the walkway a good sweeping.
