If you’re a landlord looking for new tenants for your rental property this year, improving your rental property could significantly increase the amount that you get back from it. By making just a few home improvements to your rental property, you could get a much better price, allowing you to do more with your rental income. Upkeep of the property is essential, especially if you have good tenants. Here are 7 key ways you can improve your rental property.
Add Solar Panels
Improving the energy efficiency of your home is a good way to make it much more efficient, which is very attractive to tenants, especially during a cost of living crisis. However, as well as adding double-glazing and insulation, why not go the whole way and install solar panels if you can? This is a great way to improve the energy efficiency of your property and make it much more attractive on the rental market. Make sure to shop around for solar companies in your area, so you get the best deal and save yourself some money.
Update With A Fresh Coat Of Paint
Never underestimate how much a fresh coat of paint can really transform the space and make it much more attractive to tenants and renters. However, you can really make the space much better by just repainting it – and you can do this all by yourself! Make sure to choose a bright, light paint colour in order to maximise the amount of light your rooms get. One of the main things renters look for is a space that doesn’t look dark or dingy, and paint is one of the best ways to make your rental property bright and lively.
Work On Your Kerb Appeal
How your rental property looks from the outside is called your ‘kerb appeal’- and it will be the first impression that renters get from your property. If the outside is scruffy or needs work, you might find yourself unable to find renters. Making sure that the lawn is mowed and plants are well-maintained, painting the front door, pressure-washing the driveway, and fixing broken gates or fences or all crucial when it comes to working on your kerb appeal. If you want to maximise your profits, make sure the exteriors of your home are well tended to. Don’t be afraid to get an online loan to fund major repairs; you can get it back in a few months.
Improve Natural Lighting
As aforementioned, one of the key things that renters look for when it comes to choosing their next living space is the amount of natural lighting a place gets. People don’t want to live in a dark or dingy home, as this could have negative effects on their mental head space. Ensuring that your furniture is positioned in a way that facilitates natural light to filter through is essential for promoting natural light in the home. Furthermore, ensuring that all windows are clean enough for light to get through is important for natural light in the rental property. If you want to keep good tenants, make sure to improve natural lighting.
Improve Parking Options
One of the best things you can do to make your property stand out on the rental market is to improve parking options. Many people drive for work and want good parking options when they’re choosing a rental property. If you look at your rental property and find ways to add and improve parking space, you could make your property significantly more attractive on the rental market. You could renovate a disused garden by tarmacking or paving it, creating a designated parking spot for your tenants.
Although your previous tenants may have left your rental property sparkling clean, it’s a good idea to get professional cleaners in between tenants. Professional cleaners have access to certain apparatus like carpet cleaning machines and industrial strength cleaning products which can really make a difference if you’re getting new tenants. They can also do a more thorough job and clean spots that the last tenants may have accidentally left. If your tenants arrive at an extremely clean home, they will usually take more care to preserve it during their tenancy. If you want to maximise your rental home’s potential, you should definitely hire professional cleaners in between tenants.
Update The Soft Furnishings
One of the best ways you can instantly and cheaply improve a rental property is by updating your soft furnishings. Carpets, curtains and sofa covers should be deep cleaned or replaced. Smells can get into these soft furnishings over time, creating a bad smell in your home, so it’s important to clean or replace them as much as possible. Furthermore, if you’re showing people around the property, adding soft furnishings like duvet cover sets is essential if you want to make the rental property feel like a home. When a property feels lived-in, psychologically, it makes viewers want to live there too.
You don’t need to break the bank to improve your rental property – by just following a few of these tips, you can improve your rental property and increase your profits significantly.