When landlords are trying to make their properties attractive to would-be tenants, there may be plenty of avenues for them to pursue. For instance, some may choose to make big overhauls of the living space, while others are content add a few amenities and or new coats of paint.
Even simple renovations to a kitchen or bathroom can make a rental property a lot more attractive to potential tenants, but it's wise for property owners to assess what they might or might not like about the spaces they're renting out, according to The Balance Small Business. For instance, while a kitchen or bathroom remodel is likely to be popular, something that's a little simpler, such as redoing the flooring if there's well-worn carpeting could make a room feel new without having to gut it.
Other changes to make
Meanwhile, depending upon where the property is located, owners might also be wise to add some parking options if at all possible, so that tenants – or their guests – have safe places to put their vehicles, the report said. This is especially attractive if a reasonable accommodation for parking multiple vehicles can be made off the street. While this certainly isn't always possible in urban areas, making space in a yard for even one car or truck can significantly increase a property's rental value.
Along similar lines, any outdoor space – even a porch – can be another great amenity for renters to hang out when the weather allows it, according to Simply Business. Likewise, if there is significant storage space (such as a shed, attic or basement) on the property for people to utilize, they may be more likely not only to be attracted to a rental initially, but also potentially stick around for longer periods of time.
Furthermore, adding new appliances and swapping out old ones can be attractive because of how much easier they make tenants' lives, the report said. For instance, new, stainless steel appliances are likely to be impressive, but adding a dishwasher to spaces that don't have one can be a big boon for renters who don't want to devote hours every week toward doing the dishes by hand.
Likewise, any apartment that doesn't yet have a laundry area could become a lot more attractive with that simple addition, even if it's in the basement, coin-operated or the like, according to Rentberry. This, too, makes a tenant's life a lot easier because they don't have to go to a nearby laundromat at least a few times a month, which is a huge convenience to anyone who has an already-packed schedule.
When landlords are thinking about upgrades they can make to a rental property, it may be wise to think about the aspects of their homes that they already like, and how adding those features may help them surprise and delight tenants going forward.
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