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Rental Tips to Increase the Value of Your Property Without Breaking the Bank

Increase the rental value of your property

 

Whether you are planning to put your home on the market or convert it as a rental property, there are many ways of increasing its value.  Some of these are effective but very expensive and time-consuming. These include remodeling of your bathroom, new flooring, and kitchen upgrades. Thankfully, there are many interesting ways in which you can enhance the value of your home without breaking the bank. These methods also help in increasing the rental value of your property should you rent it out as opposed to selling.

 

Go for a paint job

This is one of the quickest, easiest, and the most inexpensive of ways to enhance the value of your property. The look and feel of a freshly applied coat of paint add to the décor of the interiors and exteriors. It also makes your property feel fresh for buyers as well as potential tenants. If possible, paint the cabinets in the kitchen and bathroom also to transform the looks of both these rooms. Paint job won’t help you impress the buyer but it’s also an inexpensive way to increase the value of your home quickly. It’s advisable for you not to use bright colors or a specific theme if you’re going to sell it soon. If you’re doing it to help it sell at a greater price, you must be using neutral colors. Conversely, freshly painted homes attract tenants and they are ready to pay a higher rent for them as compared to other properties.

 

Improve the lighting

This is another home improvement method that costs little but has a significant impact on the sale price or the rental value of your home. You can start to save money if you replace old incandescent bulbs and tube lights with LED bulbs. Buy new fixtures also to add lighting in areas that are dimly lighted at present. Lighting improvement adds brightness and makes your home feel warmer and inviting to your visitors. Rental market analysis reveals that properties that appear to be bright and well illuminated are preferred by tenants in that area.

 

Improve the curb appeal

Curb appeal plays a crucial role in creating a good impression on your visitors. It does not cost much but it is labor intensive exercise that requires your time and effort. Clean the garden and remove all dead leaves. Gardening is inexpensive and it will create lush green space in front of your home to add to its charm. Clean the driveway and remove all stains. Place flowering plants in pots to add to the beauty of your property. If possible, change the handle on the front door and replace the doorbell also. You will find that your property spends very little time on the market before it gets leased by tenants if you work on its curb appeal.

 

Bonus Tip! Add mirrors in your home

While you need to clean all the windows, you should also place several mirrors in your home at different places to create an impression of larger living space. Mirrors also add light inside your home.

If you follow these steps, you will find that your house is commanding not just admiration but also a higher monthly rental from a potential tenant.

For more information about our FREE RENTAL MARKET ANALYSIS, click here to find out what your property’s potential rental income would be in today’s Austin rental market or surrounding areas. Or schedule a free consultation to speak to one of our property experts today by clicking here!

Posted by: ravepm on May 3, 2019