Are you considering renting out your first property? If so, you are probably starting to…
Home improvements can be a win-win for landlords, increasing the value of your rental while simultaneously working as a tax deduction, particularly for smaller repairs. But what will make great renters fall for your property long term? Your home improvements can! If you’ve ever watched Love It or List It you know people pick improvements over the headache of moving almost every time. Give them a reason to stay this Fall while increasing the value of your property.
Autumn is a great time to address landscaping before winter, improving curb appeal and addressing any issues that could lead to bigger repairs once the rainy season begins. Any exterior painting should also be done during the fall, offering the best season for room on house painters busy schedules in weather that will work for them. Adding a patio can also add a welcoming area for renters to get out of the house and save you long term dollars on landscape maintenance.
Kitchens and shared family areas get lived in and need updating to keep them enjoyable and pleasant. Paint and flooring can often bring the most bang for your buck in making your property more family friendly for renters. Many other small DIY can have a big impact as well. There are a bevvy of DIY solutions to visually improve your property with just a little elbow grease.
Surveys by the National Multi Housing Council have shown year after year that the majority of tenants won’t consider renting a place without HVAC, and often a washer and dryer. If like many your rental already has heating and air conditioning, providing regular maintenance services each fall and spring can lengthen the life of this very costly appliance. Should you cover the cost of utilities, a programmable thermostat or sprinkler system is a critical addition that can save money. Updating fixtures to work with LED lighting is also an attractive upgrade for renters and future property resale.
Another improvement that benefits both you and the renter is to increase the security on the property. Making renters feel safe in their home keeps them bonded to your rental. Prevention is also a key component for you as the landlord. Updating with an alarm, adding locks or installing a Ring camera deters crime that can have property owners placing a claim for damages and seeing increasing insurance rates. Home security benefits all parties involved.
Fall is here, time to get your property rented and tended to, before the holidays. Let Ferguson Property Management show you how to get renters to love your property. We can provide a quote of services tailored to your needs to show you all the ways we do what we do best.