Looking to add value to your rentals without spending a ton of money? You’ve come to the right place. Here are a few examples of simple things you can do to boost the appeal of your properties while keeping costs low.
1) Washer & Dryer
A quick way to add value to your rental is to add a washer and dryer. There is low overhead for these appliances, they are easy to install, and they will be a huge draw for potential tenants.
2) Environmentally friendly additions
Being environmentally conscious is becoming more important and popular these days. Renters will appreciate the additions of things such as LED lights and even solar panels! Plus, these green options are incredible investments that will make your rental more attractive and will reduce your renter’s energy bills!
3) Parking (with ease)
Parking is a MUST for your renters so it needs to be easy, accessible and ideally free! Renters are going to want to live somewhere that allows them and their potential guests to access the property easily. It also allows for additional storage! Consider adding a carport if there is a driveway but no garage.
4) Renovations (even minor ones)
This one may be a no-brainer, but even something as simple as planting flowers in the front yard or re-painting the kitchen can go a long way and increase the curb appeal of your rental in the long run. A $30 can of paint and some elbow grease is sometimes all you need to add value to your rental.
5) Utilizing smart technology
Renters are becoming more technologically savvy so installing smart devices such as thermostats, TVs, security, etc. instantly makes it more appealing. In addition, allowing the option for renters to pay online can make life a breeze for you and your renter. Due to these small investments, you can also charge more for rent which is always a plus!
All of these tips are a great way to add value to your rentals making them more attractive to renters! If you have any suggestions, leave your comments below!
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Dave is a seasoned real estate investor with over 12 years of experience in the industry. Specializing in single-family residential real estate, David’s strategic approach combines market analysis, financial acumen, and a deep understanding of urban development trends to maximize investment returns.
