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12 Easy Ways to Keep Your Rental Property’s Value Up

If you’re a landlord, you know that keeping your rental property’s value up is essential to your success. This blog post will discuss 12 easy ways to keep your property’s value high between tenants. Many of these tips are small changes that don’t require much time or money but can make a big difference in the long run. Keep reading for more information!

Invest In Regular Maintenance And Repairs

You might think that you’re saving yourself some money by putting off repairs. However, neglecting maintenance and minor repairs can cost you more in the long run. By taking care of these things right away, you can avoid more significant and more expensive problems down the road.

Not to mention, it will keep your rental property looking its best and maintain its value.

Regular Cleaning Of Common Areas

Your rental property will always look its best when common areas are kept clean. This means regular cleaning of hallways, stairwells, and lobbies. Depending on the size of your property, you may need to hire a professional cleaning company to come in once or twice a week. Remember that first impressions count, so it’s essential to ensure these areas are always clean and inviting.

Landscaping And Outdoor Spaces

Another way to keep your property’s value up is to ensure the landscaping is well-maintained. This means regular mowing, trimming, and fertilizing of the lawn. It also means keeping the shrubs and trees trimmed and free of debris. If you have a pool, ensure it is clean and in good working order. Outdoor spaces should also be free of trash and clutter.

Investing in some attractive outdoor furniture and planters can also go a long way in making your rental property more appealing. In addition, adding a few personal touches to the outdoor space can make it feel more like home for tenants and help them to take better care of it.

Make Sure Appliances Are In Good Working Order

Appliances are an essential part of any rental property. Not only do they make the place more comfortable for your tenants, but they also add value to the property. Ensure all appliances in your rental property are in good working order before each new tenant moves in. This includes the oven, stove, fridge, freezer, dishwasher, washer and dryer. It’s also a good idea to have a backup plan for each appliance in case something goes wrong. This could be a spare appliance stored at the rental property or a service contract with a local appliance repair company. Either way, ensuring appliances are up and running is crucial for keeping your rental property’s value high.

Address Safety Hazards Immediately

The first step to taking care of your rental property is to address any safety hazards immediately. This means fixing any loose handrails, repairing any broken steps, and ensuring that there are no electrical or gas leaks. By addressing these hazards right away, you can prevent more serious accidents from happening down the road.

Keep these tips in mind, and you’ll be sure to keep your rental property’s value and safety up for years to come! £100 loans can help with minor improvements like these between tenants.

Do Regular Paint Jobs

Paint is one of the essential things regarding first impressions. A fresh coat of paint can make your rental property look well-maintained and cared for – even if it’s an older building. If you decide to repaint, choose neutral colours that appeal to a wide range of people. You don’t want to turn away potential tenants because they don’t like the colour scheme!

The Exterior Of The Building

Another way to keep your rental property looking its best is by power washing the exterior walls and sidewalks leading up to it. This will remove any dirt, grime, or stains built over time. Power washing is easy and inexpensive to give your property a fresh look. You can do it yourself or hire a professional to do it for you.

Invest In Sustainable Solutions

Making your rental property more energy-efficient and sustainable is a great way to add value. Not only will it save you money on utility bills, but it will also make your property more appealing to environmentally conscious tenants. Some easy ways to make your rental property more sustainable include:

Installing solar panels

Upgrading to energy-efficient appliances

Adding insulation

Improving the weatherproofing of doors and windows

Planting trees and shrubs around the property’s perimeter for natural shade and privacy.

In addition to making your rental property more sustainable, these upgrades will make it more comfortable and attractive to potential tenants. And that’s always a good thing!

Upgrade Fixtures and Hardware

Often, renters will be the ones to break or damage fixtures and hardware in your rental property. To keep your rental property’s value up, regularly check these items and upgrade them as needed. This may include doorknobs, cabinet handles, light fixtures, and plumbing fixtures. Not only will this help to improve the appearance of your rental property, but it can also help prevent future damage.

Offer Amenities That Tenants Will Appreciate

While you may not be able to offer the same high-end amenities that new development can, you can make plenty of small changes to your rental property that will go a long way with tenants. One way to do this is by offering keyless entry systems. This will not only make it more convenient for tenants to come and go as they please, but it will also give them a sense of security. Another amenity that tenants will appreciate is an on-site laundry facility. This can be a huge selling point, especially for those looking for a rental property in an urban area. If you don’t have the space or budget for an on-site laundry facility, consider partnering with a local laundry service that offers discounts to your tenants.

These are just a few of the many amenities you can offer to tenants to keep your rental property’s value up. By providing these amenities, you’ll not only be able to attract high-quality tenants but also charge a premium price for rent. So, if you’re looking for ways to keep your rental property’s value up, offer amenities that tenants will appreciate.

Security

This is one of the essential things to tenants. You can increase your rental property’s security by adding deadbolts to all doors, installing an alarm system, and adding outdoor lighting. These relatively inexpensive changes can make a big difference in how safe your tenants feel.

Protection From The Elements

One of the most important things you can do to keep your rental property’s value up is to protect it from the elements. Regular maintenance and upkeep will go a long way in preserving your property’s value and making it more attractive to potential tenants.

Some of the best ways to protect your rental property from the elements include:

– Inspecting and cleaning gutters regularly

– Checking for cracks or leaks in the foundation and repairing them promptly

– Applying fresh paint or sealant to the exterior of the property every few years

– Planting trees or shrubs around the perimeter of the property to provide windbreaks in the winter months

– Keeping walkways, driveways, and sidewalks clear of snow and ice in winter

– Regularly trimming trees and shrubs to prevent damage to the property

No matter the current state of the housing market, it’s always a good idea to keep your rental property’s value up. By making some simple improvements and keeping up with regular maintenance, you can ensure that your investment will continue to pay off for years. So if you’re looking to keep your property’s value high, start with these easy tips.

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