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5 Cheap and Easy Rental Value-Booting Upgrades

Find out how to upgrade your rental affordably. Then, you can attract high-income tenants for your property.

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5 Cheap and Easy Rental Value-Booting Upgrades

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  1. 5 Cheap and Easy Rental Value-Boosting Upgrades

  2. Tenant-Attracting Rentals • Right now the rental market is hot, but that means more rental properties are being built, so more competition is coming and may drive rent prices down. • You can attract better • tenants and charge higher • rents by making a few • (relatively) cheap and easy • upgrades.

  3. Hot Tub It Up • Yes, hot tubs may be expensive to run and a hassle to keep clean, but you won’t be in charge of that. • Most renters will lay down the extra dollars on a residential lease for a chance to rent a home with a luxurious hot tub on site. • Buy used: the price • drops by 50-75% almost • instantly.

  4. Turn up the Heat with a Fireplace • Not only will a fireplace ooze luxury, but it also gives people a comforting right-at-home feeling. • You can take advantage of this by installing a gas fireplace, • which is far cheaper to install • than an inset wood fireplace & • full chimney, and many renters • prefer the minimal upkeep of • gas anyway.

  5. Landscape Away • Since the exterior of the rental property is the first thing potential tenants will see, be sure it is well landscaped. • If the outside looks well-kept and inviting, you’ll already have thinking positively before even stepping into the home. • For ease, try ground- • cover plants like ivy, or • potted plants out front.

  6. Not-Your-Average Locks • Sure, keys are great, but keyless entries make a statement. • The convenience of keypad entry or, better yet, smartphone entry says your property is secure and high-tech.

  7. Dazzle Them with Bamboo • Hard wood floors are popular these days, but bamboo is more far affordable, and • more upscale than laminate imitations. • Bamboo comes in plenty of colors and shades to match your interior design scheme.

  8. Short-Term Expense for Long-Term Income • Consider the return on investment from any potential upgrade. When will it pay for itself in higher rent? • Many of these changes will improve the value of your rental property in case you need to sell or refinance down the road – assuming you screened your tenants well and they don’t ruin the upgrades.

  9. High-Income Tenants Make for Responsible Renters • When you put this kind of time and money into upgrading your rental, you will be more likely to find high-income tenants during your rental screening process. • If they’re willing to pay for such upgrades, they will probably be willing to maintain them, which means your house will stay in better condition.

  10. Advertise and Attract • Once your improvements are made, make sure to emphasize them in your ad. • You should have no trouble • attracting great tenants and earning higher monthly income for • years to come.

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