As a property owner, building care and upkeep can eat into your profits. But, don’t worry, as there are simple, cost-effective methods to keep your property looking its best, while also increasing your rental revenue. Let’s look at the top upgrades that your tenants, and your wallet, will love:
A Fresh Coat of Paint
You might be surprised to learn that painting provides the greatest return on investment of any rental property improvement. Buying paint in bulk may even help you get a better price for this common upgrade! Just make sure to include any stipulations in your lease that pertain to painting the rental property.
In-Unit Washer and Dryer
Purchasing a washer and dryer for your rental home is more reasonable than you would imagine, and you’ll likely get a nice return on your investment. You may also add a monthly payment for an in-unit washing and dryer, ranging from $30 to $80 per month, depending on the age of the equipment and the rent amount.
Renters like a beautiful backsplash, especially if it’s paired with modern fixtures. Backsplashes increase the value of your rental right away. Simply pick a backsplash that is both sturdy and easy to clean, as well as having a classic, timeless appearance so that each renter can simply match their décor and appliances to the kitchen.
We Can Help!
Reliable Property Management, Inc. is here to provide landlords and investors with everything they need to take their rental properties to the next level. We invite you to give us a call at 443-869-3799 and check out our other helpful blogs on our website to learn more today!.