Optimizing Your Rental Property For Increased Rents
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If you're a homeowner in Fayetteville, NC, looking to optimize your property for renting and increase the amount of rent you can charge, there are a few upgrades you should consider making. These upgrades can help attract higher-quality tenants and increase the value of your property, making it more appealing to potential property managers.
Make energy-efficient upgrades: One of the most beneficial upgrades you can make to your property is to make it more energy efficient. This might include installing energy-efficient appliances, sealing air leaks, and adding insulation. These improvements can help reduce energy costs and make the property more attractive to environmentally-conscious tenants. Smart thermostats also are a popular option amongst modern tenants.
Update the kitchen and bathrooms: Another great way to increase the value of your property is to update the kitchen and bathrooms. This might include installing new cabinets, countertops, and appliances, as well as updating the fixtures and finishes. These updates can make the property more appealing to potential renters and help increase the rent you can charge.
Add outdoor living spaces: If your property has an outdoor area, consider adding some amenities to make it more appealing to potential renters. This might include installing a deck, patio, or adding some simple landscaping. Sometimes even freshening u the beds with mulch and simple flowers and bushes can make a huge impact.
Make the property more accessible: If your property has any accessibility issues, such as steps or narrow doorways, consider making some updates to make it more accessible to potential renters with disabilities. This might include installing ramps or making other structural changes. These improvements can make the property more appealing to a wider range of tenants and increase the value of the property.
By making these upgrades to your property, you can help optimize it for renting and increase the rent you can charge. This can make it more attractive to potential property managers and help you maximize the return on your investment.
If you are interested in upgrading your home to achieve the highest potential rents, contact us today. NEST is ready to help with prompt, affordable and complete maintenance, repair, and renovation services. Our Project Manager supervises the make ready process and capital reserve projects. We have a highly trained staff of skilled in-house maintenance technicians and an extensive list of area contractors to make sure the project is completed quickly, efficiently and with attention to the costs involved (After all, we are investors ourselves and understand the cost effective methods necessary to make your purchase rent ready.) When you partner with NEST, we are fully capable of handling repairs at every turn. From the initial bid on large projects to the final inspection, our team is here for you.
We feel that by helping the property owner achieve his/her goals in a cost-effective and efficient manner, our long-term job of managing the property will actually become easier (fewer emergency repairs, higher rents, better class of tenants, higher tenant retention rates, etc.