Today we are talking about how to get better income or improve the rental return from your investment property. There are many things you can do with your property to make more money, and maintenance is one of the most critical things you should focus on. When a home is properly maintained, your tenants will stay there longer and it will rent faster.
Good quality paint also makes a difference and it does not cost a lot. Between tenants, we like to repaint the property or at least touch up areas that need attention. It’s also a good idea to do something like an accent wall. That provides a nice design element to the property and again, it costs very little.
If you want to make improvements to your property in the hopes of earning more income, focus on bathrooms. That’s what people are really looking for when they are viewing properties. It also makes sense to invest in new, updated windows. Heating systems and kitchens also help you earn a favorable return on your investment.
Finally, make sure you pay attention to the outside of the property. Lots of landlords shower attention upon the inside of the property and then they forget how important curb appeal is. We have found that multi-family properties need a clean, professional looking exterior and single family homes really benefit from a well-landscaped yard. It’s important to go to the property once a year to trim everything back and make sure the trees and bushes look nice. It makes a big difference.
These are just a few of the ways you can earn more rental income with your investment home. If you’d like more information about how to get better income from your rental property or if you have questions about Centralia property management, please contact us at T.J. Guyer, and we’d be happy to talk with you.