Do you need to increase your rent? There are some simple and relatively inexpensive ways that you can get the most bang for your buck with your rental property. Here are some to look into:
1. Clean! Replacing carpets is a major expense. Although you should replace your rental properties’ carpet every 7 years, having your carpets deep cleaned can do a lot for them esthetically as well. You may also want to consider hiring a maid service to do a once-over. If you are in a property frequently there may be some things that need to be cleaned that you simply overlook.
2. Paint the walls. This can be dangerous territory for some owners. You want to paint the walls something absolutely neutral, not your favorite color. Light blues, tans and greys are always welcome. Of course white is standard, but don’t go overboard. Some people get turned off from every wall being white. The space may appear to be too stark.
3. Replace small fixtures. Updating cabinet hardware can make an outdated kitchen look new. Replacing damaged blinds or dripping faucets can draw attention to the more positive things about your space. Even changing out different doorknobs can improve your space.
4. Add in some landscaping. Bring some color to your yard by planting bright flowers. Flowers and a freshly mowed lawn can make your home look more inviting. Be sure any view you have from your lot isn’t blocked by any obstruction. If you have a garden make sure it is maintained or empty for your next tenant to use. Try having friends that have never been to your rental property do a walk through and have them point out any flaws that you may not have noticed. Your rental space doesn’t need to be completely renovated to be appealing, just inviting and functional!
These are just a few options to get you started. If you've got some extra cash, putting it back in to your rental property is a great way to keep tenants happy and increase rent in the long run.