Caring for your rental property doesn’t just mean performing maintenance and staying on top of repairs. Instead, it also means investing in the property to make it more appealing, increase the rent that you can charge and attract great tenants. There are many simple renovations that can increase the value of your rental property and let you and your tenants reap the rewards.
6 Renovations that Increase the Value of Your Rental Property
- Landscaping and the Exterior: Whether you live in Golden, Arvada, Wheat Ridge, Commerce City, Thornton, Westminster, North Denver, or Brighton, investing some time in the upkeep of the exterior landscaping is a great way to increase the value of your rental property. Adding flowers, painting the door, replacing the mailbox, replacing address numbers or trimming the hedges can refresh the exterior.
- The Kitchen: A minor kitchen renovation can drive up the rental price you can get for your property. Instead of replacing the cabinets, try resurfacing them. Upgrading the countertops or installing a new backsplash can also make the kitchen more attractive without doing any major, expensive work.
- The Bathroom: Bathrooms are one place where you can rapidly increase the value of your rental property. Replace the toilet seat, add a new shower head and update the faucet with new fixtures. Is the bathroom small? Consider using a pocket door or converting the bathtub into a walk-in shower to make the room look more spacious.
- New Floors: Flooring is a more significant investment than some other improvements that can increase the value of your rental property, but adding hardwood to your property gives it an instant boost. Carpet sometimes wears easily and needs to be replaced between tenants. Hardwood flooring is modern, easy to clean and gorgeous.
- Paint: While some property owners paint the property between tenants, many leave things as is. For an inexpensive upgrade that can increase the value of your rental property, paint the walls with neutral colors, patch any holes in the drywall and make sure the space is bright and open.
- Add Amenities: Finally, another great way to increase the value of your rental property is by adding popular amenities like air conditioning, a dishwasher, more storage space, a washer and dryer or off-street parking.
Keep Your Property Full with All County Property Management
All County Denver Metro Property Management offers all property owners competent and honest property management services. From rental market evaluation to tenant placement, we can assist with all of your needs. Our team of real estate professionals looks forward to hearing from you about how we can make your investment a stress-free asset and keep your tenants happy. Call us at (720) 575-6100 for a free quote.