How to Improve Your Rental Property?

According to the market & consumer database Statista, nearly 44 million housing units were rented, comprising 34% of the total U.S. households. Per U.S. Census data, the average household size is 2.6 people. Thus, the number of renters was 114.4 million, or 35% of the U.S. population in 2021. Given these large numbers, it’s important to maximize your home’s potential with regular maintenance and upgrades to attract renters and maximize profits.

Unlike lengthy renovations, simply replacing old features, to updating the floors, increasing storage, adding amenities and speaking with a professional property manager are simple and easy to do on your own.

Replace Old Features in Your Property

Why you need to Replace Old Features in Your Property?

Renters are not going to be attracted to older-looking homes that are filled with dated features. Having old kitchen knobs, faucets, handles and cabinetry can be an eye-sore that some are not willing to look past when viewing it.

Preserving your Homes Legacy is also keeping vintage period pieces in a modern home, you can have the best of both worlds. You can maintain a desirable vintage look that makes your home stand out from the crowd whilst enjoying all the modern conveniences.

Update Flooring in Your Property

The floors of a rental are an excellent way to beautify the home. Certain types of flooring can appear dated and unappealing for potential renters if it’s been a while since it’s been replaced. Consider switching these dated floors for something easier to maintain such as laminate, tile, stone or hardwood.

Why is flooring is important in a house?

Flooring is a crucial part of any interior design and can easily make or break your space. The first physical contact a person will have with your space is the flooring. It serves as a foundation to your design and can ultimately impact its overall success to attract tenants.

How often do floors need to be replaced?

Carpet generally lasts about 10 years, while flooring types like tile, wood and laminate can last as long as 25-30 years. It all depends on how much damage they face over the years. It is a personal decision to update or change the flooring of the house, but you can coordinate with property managers and ask their professional opinions.

Upgrade Plumbing Fixtures

Another tactic that owners can use to beautiful their rental property is to upgrade the plumbing features in the property. No one wants to use old-looking faucets or showerheads in the home they are living. Not only will this seem unappealing to potential renters, but it may impact the amount of money you can rent the property out for.

Therefore, it’s important that owners consider updating the plumbing fixtures in their home to more modern and sleek additions. This will instantly help to upgrade the kitchen and bathroom areas of the space without an invasive renovation.

Why is it important to replace plumbing fixtures?

Ensuring that these fixtures are in the best condition is important to ensure an uninterrupted water supply and properly functioning drainage system. Like any other equipment or item in your home, plumbing fixtures have a lifespan after which they can stop working effectively or completely break down.

Why is quality so important in plumbing?

An efficient plumbing system helps preserve water. Malfunctioning plumbing components such as a leaky faucet can waste gallons of water every day. Letting a professional inspect your building plumbing can help you identify fixtures that need to be replaced right away with water-saving models.

If your rental property have a quality plumbing you will gain a long-term tenant, because they would appreciate a full-functioning house, rather than a house that has a lot broken facilities.

Increase Storage

Storage is a vital feature of any home which is why it’s important to upgrade (or increase) the storage areas of your rental. Upgrading these areas will help to beautify the property because it will help to minimize the amount of clutter around the property. This can be accomplished by adding built-in cabinetry, more functional furniture and shelving units to keep items from spilling onto the floor.

Why is storage important in homes?

Incorporating storage into residential or commercial builds and remodels saves the client time and money – and saves you time and money. Staying organized is not easy, and allowing a buyer to understand the value of efficient storage solutions can make the difference between a haphazard home and an orderly masterpiece.

Some of the rewards that you can enjoy from adding additional storage to your rental property include: you will be able to charge a higher rent, rent your property faster and most important of all keep great tenants because, your tenants will be less inclined to look for rental properties elsewhere since your rental. This can also help you improve your next property, since most of tenants wanted to have bigger storage .

Talk to Your Property Manager

Doing all things by yourself can take a lot of planning and time, but speaking with a property manager who can help with long-term maintenance of the home. A property manager can help you out and monitor the property in case there are any issues that arise with the tenants.

Additionally, property managers will handle any disputes, damages, or problems that occur in the property that would potentially decrease its value. Without their help, an unruly tenant may cause a severe amount of damage that’s irreversible if you’re too late.

If you have a rental property in California, call Eagle Property Management at (916) 714-0123 or contact us now!

References:

https://www.garrisoncollection.com/blog/interior-design-flooring-importance/

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