Rather than just sitting and waiting for the market to go up, why not
make simple improvements to your properties that will have your tenants happily
paying more rent.
The right sort of improvements can easily pay for themselves in a couple
of years through depreciation, increased rent and fewer vacancies.
Here arenine relatively simple thingsyou can do to
your property that tenants will happily pay a bit extra for.
1. Install air-conditioning
This is always high on the list for tenants in sunny places, especially
when summer is approaching.
2. Add a dishwasher
Nobody likes doing the dishes, so tenants will often pay a bit more for
the convenience of a dishwasher.
3. Cover for tenants cars
Most people greatly value their cars, so providing a simple shade sail
or carport structure can make your property more valuable in the eyes of
potential tenants.
4. Provide extra security
Every rental property must have certain security features like door and
window locks, but providing extra things like sensor lighting and security
screens can help increase the rent you can charge.
5. Allow pets
Given how many people own, or want to own, a pet, opening your rental
property to pet owners can help increase your returns by widening your pool of
potential tenants.
6. Do a quick paint job
While not as easy as some of the other items on this list, a new paint
job can do wonders for the appeal of a property and even increase its value.
7. Tart up the outdoors
Tenants tend to value useable and attractive outdoor space, so if you
can create some without too much trouble it can pay off financially.
8. Install new carpets
There’s something about new carpets that everyone loves, so why not your
tenants.
9. Offer a long-term lease
This is something you may not have thought about, but some tenants would
gladly pay a bit extra for the security of a long-term lease.
It can be very costly to have to move every couple of years.
Jason Gwerder
Friday, 15 April 2016
