Increasing Value Of Your Rental Property
Having a decent and maintained rental property ensures cash inflow regularly. A rental property is the best way of having a passive income. Being a landlord, there are many responsibilities and check and balances but when the cash hits the bank, there is no greater feeling. The landlord has to take care of everything as the property belongs to them and not to the tenants. Maintaining the value of the property is of prime importance. The market can go down, but state of the property should be maintained. Sometimes tenants leave, and that’s the best time to bring changes to the house. One can take feedback from the previous tenant. Nowadays, new equipment and technology in the house can attract people. Small gadgets excite tenants. These improvements don’t cost much but they really help in keeping up the value of the property. Here are some tips.
Reform the yard
If the house has a yard, the first thing people will notice is the yard. IT should be well maintained and beautiful. A neat and clean lawn can raise the value of the house by folds. Don’t use too much money here. Simple things can also bring beauty to the lawn. Small bushes and evergreen plants can create a great impact. Cheap solar powered lights can also be used to create a great effect. Fence looks very fascinating, so if there is fence make sure it’s not broken or missing pickets.
Scrub the whole place
Painting the whole house time to time can cost a lot. If there is not enough budget to paint everything just thoroughly clean the property. If you are not doing it yourself, cleaning can be done by hiring professional cleaners. They don’t charge much but leave the house as good as new. If there is budge, buy paint at least for the most affected areas in the house. Specially the front door should look fresh and neat. It gives a great expression to the new tenant.
Cleaning the carpet
If want the rent of your choice from the new tenant, somethings should be done immediately. To give the tenant an expression of a new house, the carpets should be neat and clean. For this, hire steam cleaners and get all the carpets cleaned as new. It does not cost much but gives a great effect. If there are no carpets, cleaning is even easier. Tiles and vinyl floor doesn’t need much effort. Just scrub them and they are shining.
Fixing the appliances
If the appliances in the house are looking well maintained, they also create a positive impact. Even if the appliances are not new, clean and maintain them and them look new. Hard surface cleaners can be used to clean the appliances. All the appliances should be in working condition when a tenant pays a visit. Just make sure that all the right and necessary changes are brought to the house to keep its value higher.
Make a high demand
If you see that a tenant is interested in the house and might want to get into a deal with you, place a higher demand. It is customary that the tenants negotiate. The demand should be such that after negotiations we settle at the actual rent we wanted. Another good thing about it is if there are several tenants, the landlord can choose the tenants of his own choice.
An unresponsive landlord is a nightmare for every tenant. Its preferable to be available most of the times. If you are available, it also creates a great impression and in this way the property can be inspected regularly.