If you’ve owned rental property for any length of time, you know that there are times when it can be difficult to acquire tenants, much less command a premium figure for your property’s monthly rent. But the reality is that, by making just a few simple renovations, you can draw in top-quality renters, who will happily pay a few extra dollars every month, essentially adding to your bottom line. Just some of these items include the following:
- Paint or Replace the Mailbox – While it may not appear to be a big deal, the mailbox is one of the first things people see when they approach a home – and when the box is rusty and unstable, it could make potential tenants wonder what else isn’t quite up to par. A brand new box – or even a fresh coat of paint on the current one – can do wonders for sprucing up the curb appeal.
- Change / Update the Light Fixtures – Although it may not be glaringly noticeable, updated light fixtures can provide a nice, clean feel – and can oftentimes tie all of the rooms in the home together. (To really make things pop, you could also consider replacing all of the doorknobs, too).
- Install New Window Blinds – Old, outdated and / or broken blinds in the windows can give a home a messy appearance. However, installing new ones can provide a virtual facelift in every room. People are naturally drawn to the windows in a home, as this is where the natural light comes in. So, why not enhance it. Typically, a nice new sturdy set of blinds won’t set you back that much – but can make a significant difference.
Need more ideas? Working with a local, experienced property manager can help. If you own investment property in Orlando or the surrounding area, give us a call.