The process of choosing a rental property to purchase can be lengthy. You have to spend years saving for the investment property as lenders have different rules for homes that are not your primary residence. Rental properties can start to appear run down after a number of years. Maintenance should be done regularly with special attention paid between the leases of renters begin. You want to make sure that you are going to receive the highest rental amount possible. The following are ways that you can spruce up your rental property to get the most out of your investment.
Create More Livable Space
The garage and basement being turned into an entertainment space can work wonders. Using these areas as extra bedrooms will take work but it is more than possible. Bringing a home renovation expert in to help assess how a home can seem larger or increase living space is important. These professionals might have experience handling this exact situation which can produce ideas you could have never imagined.
Refinishing the Floors
Refinishing different surfaces in your rental can provide a new look. Bathtub refinishing is usually done in lieu of an entire bathroom renovation which can get extremely expensive. Refinishing the floors whether they are tile or wood can be a great touch. You do not want to install new flooring when you have the option to make the current floors look significantly better. Take time to look up refinishing companies in your area to see the quality of work that you can expect.
Landscaping Should Increase Curb Appeal
You do not want your renters to be ashamed of their residence in terms of curb appeal. This doesn’t mean that you have to put expensive flowers in. A lawn service company can be quite affordable and can allow the property to stay looking like it is cared for. Most renters do not want to take care of the lawn so this could be a perk that helps entice them to rent the home. Bushes around windows not only can provide privacy but can also improve the security of the home. Burglars usually look through windows when possible to see if a home is worth robbing.
A Unique Aspect to the Rental Can Be a Selling Point
There is a chance that you have a rental that is one or two bedrooms. You might think about trying to turn this into a bachelor pad of some type. This can appeal to renters in this phase of their life. Something like a small pond with fish on the property is a detail that people might love as relaxing and watching fish allows you to clear your mind. A home could have a sauna or amazing closets which are imperative for larger families with quite a bit of property to store.
Spruce up your rental property so you never have to worry about finding renters again. People want to live in a presentable residence so keep this in mind. Think like a renter to appeal to the renter.