A skilled professional can enhance the appearance of a rental property.
Tenants frequently search for the most desirable dwellings within their price range, so clean properties that feature modern appliances might pique the interest of prospective renters. Certain improvements also could help a property owner attract more tenants, but specific repairs or upgrades will depend on the current condition of your rental.
Aesthetic Improvements
Cosmetic upgrades can attract the attention of prospective tenants. A fresh coat of paint or new carpet may improve the appearance of your rental property. It’s equally important to keep the outside areas neat. Prospective tenants impressed with looks of the outside might make an appointment to view the inside. If you keep a property attractive, renters may be more inclined to contact you for additional information.
Appliances
Replacing old appliances with federally qualified ENERGY STAR models such as a new refrigerator, a front-loading washing machine, a new air conditioner or a large-capacity dishwasher may increase your ability to secure long-term tenants. ENERGY STAR appliances can help a tenant to save a substantial amount of money through energy efficiency. For instance, a renter can save up to 20 percent on her heating and cooling bill with an ENERGY STAR qualified HVAC system. These sort of enahcned appliances are likley to lead a real estate agent or a prospective tenant to refer others. If comparable rental properties have inferior appliances, your unit may become more desirable for tenants in your market area.
Doors and Windows
The condition of your property’s doors and windows can influence a prospective tenant’s decision. Doors and windows must look attractive from exterior and interior vantage points. Moisture, weather and water damage could erode the appearance of your property’s doors and windows. Paint and caulk may be used toward restoring your rental property’s doors and windows. New doors and windows could appeal to prospective tenants. Upgrades to your property’s doors and windows might increase the unit’s energy efficiency.
Consideration
Property improvements that enhance the appearance and the energy efficiency of your home could improve your ability to attract tenants. A well-maintained property could keep you in compliance with local ordinances for landlords. Typically, attractive units can command higher rental rates. Certain property repairs may be tax deductible. You should speak with a tax adviser about the deductibility of improvements to your property.
Summary
Conscientious property owners will take care of delayed maintenance such as peeling paint, missing floor tiles or plumbing problems. Property improvements such as an alarm system or security upgrades may appeal to prospective tenants. Installing a new heating and air conditioning unit or a new roof could attract tenants to your rental property.
