Whether you’re interested in selling your investment property or renting it out, it’s essential to present it to your clients in optimal condition in this market.
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The right expenditures can help you command more rent or elevate your property’s value. Here are some essential tips that can help you during this process:
#1 Work on Curb Appeal
Improve the curb appeal of your property to set an excellent first impression, and have your lawn and yard maintained by a professional. Research suggests that a well-manicured lawn is the earliest thing renters and buyers notice when visiting a new property. Likewise, make sure that the eaves troughs are cleaned, and your property is cleared of debris. If it’s winter, then ensure that the driveway is regularly cleared and salted.
A fresh coat of paint can also renew the look of the property. If you’re on a budget, then have the front door, backdoor, and window sills painted. Another cost-effective way to improve curb appeal is to invest in a new mailbox and lighting fixtures.
2. Polish your Concrete Floors
Many people in the property business make the mistake of investing in a hardwood flooring installation or other expensive measures for their concrete floor. Such measures are rarely cost-effective and rarely pay off — you simply don’t know what the preferences of your future buyer or tenant will be.
Instead, invest in polished concrete floors from a reputable local company that uses state-of-the-art dust-free technology to complete its work. You’ll probably be stunned by how beautiful polished concrete floors look — in the right lighting; they can shine like mirrors yet have extra friction for enhanced safety.
Residential concrete polishing is also a more environmentally friendly option than more pricey alternatives, reducing your household footprint. In addition, unlike hardwood floors or carpet, properly maintained concrete floors have lifetime durability.
3. Check Everything
Before you put the house on the market, check everything to ensure it’s in operational order. For example, check every kitchen and every bathroom for faults. Remember, people are superstitious. Just one issue, no matter how seemingly innocuous, can break a buyer’s confidence.
4. Upgrade Appliances
Modern appliances can also improve the appeal of your property. Every modern buyer expects to see a fridge, stove, and microwave. Faulty or even outdated appliances can be a deal-breaker for most people.
Very few buyers and renters want to go through the hassle of replacing appliances before they move in. Not only will upgraded appliances please visitors, but they will help you avoid maintenance concerns as a landlord.
5. Invest in Smart Home Technology
The biggest homebuyer and home renter demographic is the millennial market. If you want to attract 30 somethings to your property, then invest in smart home technology. Smart bulbs, smart thermostats, smart speakers, etc., at home, will impress any buyer from the 25 to 39 cohort. Moreover, some smart technology can also help you reduce energy bills as a landlord and earn tax incentives in certain localities.
These five essential tips can help you enhance your property’s appeal and attract higher-quality buyers and tenants. With the right investments and the best professional help, you can collect the biggest checks.