Owning a single-family rental property means you need to focus on protecting your investment. Making updates to your rental home ensures it retains its value and attracts reputable tenants. However, determining which upgrades are financially prudent is vital.
You’re in luck, as we have insider tips on the top upgrades that make sense financially in New Bedford. Industry experts suggest the three best upgrades to consider are your appliances, flooring, and fixtures.
Upgrading can boost your rental property’s value and charm, appealing more to potential tenants. So, why not spruce up your rental home and help it differentiate from the rest?
Modern Appliances
Appliances often top the list of inquiries from prospective renters when leasing a home. Keeping appliances up-to-date and functional is key to avoiding deal-breakers for renters and ensuring long-term retention.
To optimize your investment, regularly refreshing your rental property’s appliances is advisable. You don’t need to invest heavily in the newest high-tech appliances to make a good impression. Aim for appliances that are well-made, have a consistent style, and come with a warranty where possible.
Low-Maintenance Flooring
Renewing the floors of your rental property is an excellent method to enhance its appeal and value, attracting potential tenants. Rental home carpets typically need replacing after five years of use. Installing fresh carpeting is a draw for quality tenants looking for well-maintained residences.
Regular cleaning and timely replacement are essential for maintaining other types of flooring. New grout for tile floors and replacing unsightly or damaged solid surface floors will improve your property’s overall look. Choose high-quality, easy-to-maintain flooring to ensure your rental property remains appealing and retains its value.
Enhanced Fixtures
Small tweaks often lead to major improvements. Significant enhancements to rental properties can be achieved by updating key fixtures such as faucets, light fixtures, ceiling fans, and blinds. For landlords in New Bedford, these inexpensive and simple-to-replace fixtures are the perfect upgrades for enhancing rental properties.
Updating fixtures regularly is crucial to sustain your property’s market value. Swapping out simple hardware, such as doorknobs and outlet covers, can make a rental feel more upscale, pleasing tenants. The small updates can transform the appearance of your rental property, making it more appealing to potential tenants.
Do you want to increase your rental property’s market value, improve tenant retention, or raise rents?
If yes, Real Property Management Success’s affordable maintenance program, which includes simple upgrades, could be your solution. To learn more about how we can assist you, please contact us online or at 774-840-5140.
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