There are many ways to improve the value of a property. The more your property is worth, the more you can potentially charge tenants in rent. Additionally, these improvements can go a long way toward increasing the overall satisfaction of your tenants. Here are 10 creative ways to upgrade your property and increase its overall value.
1. Replace or Paint Cupboards
Improving the appearance and condition of the cupboards can go a long way toward improving the overall appearance of the room. This is a rather inexpensive method to increase the value of your rental property.
2. Effective Cleaning
It is important to regularly clean your building to prevent problems from occurring. Not only will a clean building look better, but it will create a more comfortable, healthy environment for your tenants.
3. Replace the Flooring
Carpeting is a particularly poor choice for flooring in a rental property. Carpets can stain easily and will grow shabby and worn down. Wood flooring requires less maintenance and will increase the value of the property.
4. Proper Landscaping
The landscaping around your property impacts the first impression. Investing in landscaping can go a long way toward improving the value of your property. In addition, low-maintenance landscapes tend to be more appealing to busy tenants.
5. Add Appliances
The better appliances your property has, the happier your tenants will be. Offer properties with washers and dryers. Upgrade appliances that have grown old.
6. Install Mirrors
Adding mirrors can significantly enhance the atmosphere within your rental property. Mirrors reflect light throughout a room, which both brightens the room and allows it to appear much larger.
7. New Coat of Paint
A new coat of paint instantly improves the value of a building. A building with a fresh coat of paint will seem far nicer and newer than one with a worn down paint job. Try to choose neutral colors for a rental property.
8. Obtain Regular Maintenance
Regular maintenance is absolutely necessary to prevent a building from sustaining significant amounts of damage. Ensure that your HVAC system is regularly maintained and obtain regular inspections to catch any potential issues in the early stages.
9. Change the Lighting
The lighting has a drastic impact on the atmosphere within the building. When you change the lighting, you can improve the overall atmosphere.
10. Add Outdoor Seating
Outdoor seating can add a lot of value to a building at minimal expense. Consider obtaining this furniture for your rental property to make a significant upgrade. To learn more about creative methods to upgrade your rental property, contact us at the Keyrenter in Chattanooga today!