A well-maintained pool can increase your rental properties value

Will Adding an In-ground Pool Increase the Values of Rental Properties?

Local property owners and out-of-state real estate investors who own rental properties are always looking for ways to increase the value of their rentals. By making improvements to their homes and apartments, they can bring an extra level of comfort and luxury to their tenants as well as raise their rental rates based on the added features to their properties. Yet one property improvement that is most often debated about is a pool. Does a pool increase the value of the rental property?

Aspects to Understand About Pools and Rental Properties

Here at AZ Residential Management, we help our property owners maximize the return on their investments with suitable property management services. Also, many of the properties we manage do have in-ground pools to provide an extra feature that tenants can use to keep cool when the Arizona summer temperatures rise. When it comes to a southwestern state where a pool can be used practically year-round, this outdoor feature almost seems like the mandatory thing to have to increase the value of your rental property.

Yet before you go out and add a pool to your rental upgrade list, keep in mind that if you build an extravagant pool area that is worth more than the property it sits on or neighboring homes, you probably won’t see much of a return on your investment. You have to keep in mind the property values of the neighborhood where your rental home is located, as well as how long you plan to own the rental property before you place it up for sale, to figure out if it is the best investment to make.

In addition, keep in mind that a pool can only increase your rental property if it is well-taken care of so your tenants can enjoy it. If you don’t have a qualified property management company and maintenance staff to place in the appropriate work, you may eventually find that you have spent $20,000 or more on an in-ground pool that is unsafe and unsanitary to use.

Let AZ Residential Management Help Maximize the Value of Your Rental Properties

Landlords want the most cost-effective upgrades and renovations to their properties while keeping their rentals well-maintained for tenants. Here at AZ Residential Management, we help property owners successfully manage their rentals by providing the highest levels of service to ensure that the value of your rental home or apartments increases along with your profits. We also assist you in finding great tenants who will enjoy the wealth of features and amenities available with your rental property.

Simple tweaks to your rental property can increase its rental revenue

3 Ways to Get More for Your Rental Property

At AZ Residential Management, we know from experience that it can sometimes be difficult to get the rental rate that you may want or need to earn from your rental property. Fortunately, there are several small but effective upgrades that could make all the difference when it comes to attracting and then keeping the best tenants. Here are three of our favorite tips for taking your rental property to the next level without breaking the bank.

Upgrade or Upkeep The Small Details – It might sound insignificant, but there are several small features in every house that add up to a much better overall impression when they are attractive and in good functioning order. Fixtures like door handles, cabinet hardware, faucets and light fixtures can all be updated to simple modern styles or repaired for a very reasonable cost. 

Installing Simple, Built In Storage Options – Having ample storage space in a home is a huge draw to many renters and is something that can be so easy for owners to add to a property. This could mean anything from adding conveniently placed wall shelves in your bathrooms and laundry room to putting up hooks for keys or coats where they would be most useful. Try to imagine the small convenient storage you would use most if you were a tenant of the property. 

Put in Attractive, Durable New Flooring – While it might be the most costly suggestion on this list, it could also be one of the most important. There are so many flooring options available now that look beautiful and are easy to clean. Replacing old carpets and stained or cracked linoleum with fresh, new laminate wood flooring will absolutely make a difference in the way that people view the house and add value.

These changes can add up to a surprising increase in your rental revenue, but there are still plenty more suggestions for owners looking to improve their property. At AZ Residential Management, you will be gaining the benefit of our experience not only in property improvements but also services like advertising to potential tenants and handling maintenance concerns that may arise at the property. If you are interested in working with us as a property owner, please take a look at our criteria and fill out an application. We look forward to hearing from you!