Making sure that your rental property is always up to par when it comes to physical value means that there are some steps you may need to take. This is something that many rental property management companies struggle with every year. Find out our top 5 remodeling and small renovation tips that can help property managers increase the value of their property.
5. Work from the Floor, Up
The flooring of your rental property is one great way to renovate and increase value without breaking the bank. If you are focusing on rooms where a lot of people go in and out, we suggest investing in a durable carpet and be prepared to add regular cleanings onto your rental agreement. When selecting a great carpet take these three thoughts into account:
- Carpet Fiber
- Stain Resistance
- Carpet Pad Thickness
4. A Little Landscaping Goes a Long Way
Most Dallas property managers will agree that even though the exterior may seem less important, it really is the first impression that a potential tenant has of the property. If your property has a front yard, you want to make sure that it always looks cared for. This can be done through some simple mowing, mulching the area, and cutting back on any overgrown trees.
Adding flowers and trees can also be a great investment for your property. A great looking exterior does not have to be extravagant in order for it to be a way to increase property value!
3. Minor Replacements Help!
Make sure that your property is always clean and fixtures are always up to date. You don’t have to do a full-on renovation in order to make a return on your investment. Some ways that you can improve the property itself include:
Painting:
Every five years, replace the paint on the walls with a fresh coat. This keeps the property looking brand new and attracts tenants willing to pay what you are offering.
Keep it Clean:
After a tenant moves out, hire a professional cleaning service to give your property a thorough cleaning.
Replace Fixtures:
Sometimes as a rental property ages, things need to be replaced. Not everything is going to cost you an arm and a leg, and some of these replacements are very common:
- Running Toilets
- Sticky Door Handles
- Lighting Fixtures
- Dripping Faucets
2. Pressure Wash
Tying in to your rental home’s curb appeal, performing a simple pressure washing job quickly cleans up the siding and walkways of a home. This is an inexpensive way to keep your home looking like new.
1. Remove Walls, Add Space
This may fall under the more expensive category of a remodeling opportunity, but taking out some walls and creating extra space in a unit can work wonders for its value and eventual ROI. If you aren’t comfortable doing this yourself, we suggest hiring a professional to get the job done right.
HuntaHome Knows Property Management Inside, Out
If you are in the process of remodeling or renovating your rental property and find yourself feeling in over your head with other management responsibilities, get in touch with HuntaHome. Our team of professional property managers will be able to help you with management duties like evictions, tenant agreements, background checks, and more. Call today to find out more about our services.