Adding value to your rental property can enhance its appeal and increase rental income. So, we have devised several straightforward strategies of adding value without the need for extensive (costly) renovations…
First and foremost, ensure the basics are maintained regularly such as the overall cleanliness of the property and wellbeing of its fixtures and fittings. Conducting 6 monthly property visits and thorough checkout inspections at the end of each tenancy is a great way to keep on top of this. If necessary, items such as having the carpets professionally cleaned or regrouting the tiles can really help make your property look cleaner and more attractive to potential applicants.
With the kitchen being the heart of any home and bathrooms becoming more and more modern, it is important these focus points are kept in good condition. To give both a fresher look, consider small upgrades, for example replacing the taps, installing a power shower or new vanity unit.
Investing in modern lighting fixtures can brighten spaces and make the property seem bigger and more inviting. Natural light can also be maximised by lighter paints and ensuring windows are clean and curtains are open for pictures or viewings.
If you have outdoor space, this is also considered a highly desirable asset. Creating a low maintenance garden, patio or deck could make a substantial difference to its rental ability and value.
By strategically investing in these areas, you can significantly increase both the rental value and long-term appreciation of your property.
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