How to Increase Your Rental Property’s Profits


Steps to Increase Rental PropertyBefore you begin advertising that your rental property is available, hire a professional cleaner to come in and give the property a good scrub and also to increase rental property. Property owners may think they can clean a property themselves; however, a professional will scrub down the walls, cupboards, showers, toilets and many nooks and crannies the property owner may miss. Tenants want a rental property that looks sterile and clean. This is why it is essential that the property is cleaned before any tenants see the property. The baseboards should be washed, the floors waxed, the trim painted and the windows cleaned inside and out.

When you receive calls from prospective tenants, do not set up different appointment times. Instead, allow the ad to run and wait five days for all prospective tenants to contact you. Then, set one appointment for everyone. With each tenant showing up at the same time on the same day, you can show how much demand there is for your property. When people see others wanting what they want, they will try harder to get it. This can end up in a bidding war which can net you even larger profits than you originally assumed you would receive and increase rental property.

Steps to Increase Rental PropertyFirst impressions are essential when leasing a property. One of the easiest and most inexpensive ways to attract prospective tenants is to paint the front door. A fresh coat of paint brightens up the exterior and automatically increases curb appeal. People judge a rental within a few seconds, so it is vital that the entrance of the property look inviting and welcome. Make your appliances sparkle. There is a trick of the trade that will help breath fresh life into an old appliance. First, clean the appliance with a cleaner like Fantastic. Then apply Windex to remove all traces of the cleaner. If all of the appliances are sparkling, a tenant is more likely to pay top price for your rental. Even if your appliances are not brand new, you can create the feeling of newness by wiping down the stove, refrigerator, dishwasher, washer and dryer with Windex and polishing to a shine.

Increase Rental PropertyMost rental properties will have linoleum flooring in the kitchen and the bathrooms. If the linoleum is worn, replace it. Linoleum is inexpensive and quite easy to replace. Don’t just put a rug down to hide a stain or a crack, replace it. A worn or stained floor can prevent you from receiving a premium rate on your rental property. The best tenants are those that expect the rental property to be perfect. If you want to get the most for your increase rental property, have your unit professionally cleaned, paint the front door, make your appliances sparkle with the tip listed above and replace any worn flooring. Finally, have all of your prospective tenants view the unit at the same time to maximize your profits.

Watch This