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!