As a landlord in New Braunfels, your main objective is adding more value to your rental home. The more renters are attracted to your property, the higher the price you can set. You may think initially that upgrades are costly but there are several tips you can follow to enhance your rental unit without spending more.
Here are 5 tips you can follow to add value and assign a higher rent rate to your New Braunfels rental investment:
1. Paint the Property to Improve its Appearance
Pick a nice and refreshing paint color to draw the eyes of the viewers. A nice paint shade can be visually appealing and creates a welcoming aura. You can go for neutral hues such as beige, cream, white, grays and brown. Color coordinating with these tones is much easier for the tenants.
Simply painting your New Braunfels rental home can make it attractive to potential renters. It also requires a smaller expenditure compared to renovating your entire kitchen. An attractive property can be assigned a higher rental rate given since it creates more demand.
Existing tenants can also be encouraged to stick around longer when they see that the landlord has made efforts to beautify the home they’re living in. You must be prepared for tenant requests to change the unit’s paint shades. Giving your approval permits them to feel a sense of home.
They’ll want to stay longer since they’re given a bit of autonomy. You can always authorize these changes with conditions on the color palette to use. Just remember to include these conditions in your rental agreement.
2. Invest in Energy-efficient Appliances
Apply the sustainability concept to your New Braunfels rental home. Opt to invest in appliances that are more friendly to the environment. Buy appliances that are energy-saving. Even if they may be pricier in comparison to other units, this provides more value.
In return, the tenants are open to shelling out for higher rent charges. Try setting up LED lights in your property as well as using appliances designed with inverter technology.
Energy consumption is less with energy-efficient appliances leading to reduced utility bills. The greater savings they can earn, the more they’re inspired to rent longer in your property.
3. Improve Your Rental Home’s Flooring
Flooring is crucial when marketing your property. No matter how modern your furnishings in your New Braunfels rental home are, if your flooring looks worn down, prospective tenants may not proceed to rent.
Hardwood floors always score high in residential properties. They make a rental space appear elegant. Thus, a property investor can ask for a higher rent rate. If you’re looking for more affordable options, you can also consider engineered hardwood, wood-look vinyl planks or painted plywood.
One of the best qualities of wood flooring compared to other flooring materials is its durability. It takes a long time for it to be affected by normal wear and tear. Maintenance and cleaning is also easy. With simple wiping, your hardwood floor can be spotless. This type of flooring is stain-resistant compared to ordinary carpets.
Hardwood flooring also leads to better air quality. Unlike tiles and carpet fibers which can easily retain dust, hardwood does not. Additionally, the color of hardwood is classic and appears the same throughout the years. No wonder it’s highly sought out as flooring material.
Choosing to invest in hardwood flooring can be cheaper in the long run. Given that the maintenance is simple, you can save on the costs of hiring cleaners. You also avoid engaging in frequent repairs.
4. Improve Your Kitchen
On property showings, potential renters check out kitchens to see if they’re attractive. Updating the kitchen of your New Braunfels rental home can have a greater impact on your prospects. It’s best to take time in improving it so you can assign a higher rental price.
Among the changes you can consider is changing the lights, performing a repainting session, adding more storage areas and replacing the hardware on the cabinets. If you have more disposable income, you can also invest in a granite countertop. It’s durable and attractive.
When deciding for a kitchen remodel, consider your kitchen’s layout. Making the area more spacious is a big plus since a lot of activities are done in the kitchen from cooking to dishwashing. Spacious kitchens allow more room for movement.
5. Focus on Creating an Attractive Curb
Simple changes on your curb appeal can naturally make your New Braunfels rental home eye-catching. You can engage the services of a gardener to maintain a great landscaping. Tend to your plants well and they can become a charming sight.
Is it necessary to pay attention to your curb appeal? Even though your rental home furnishings inside are excellent, potential renters still base their judgement on how a home looks from the outside. That’s why the first impression matters, and you must cultivate a nice curb appeal.
You can plant new grass, mow the lawn and get rid of exterior clutter. This increases your curb appeal. Even with newer rental competition in your neighborhood, maintaining your curb appeal sets it apart from others.
At nighttime, you can also upgrade with better lighting to create an atmosphere of warmth and welcome. This strategy also helps deter trespassers away from your property.
Another update you can consider is creating a charming pathway to your entrance area. This can focus the attention of passersby leading to less marketing effort when you’re looking for new renters.
Don’t forget to apply a fresh coat of paint to your front door and replace the hardware to make it look modern and new. Doors that look worn down will merit little interest. It can make prospects look away.
The more intent you are to find great tenants, the more attention you should be paying to your New Braunfels investment property. If you’re looking for a dedicated property manager to handle rental marketing, property maintenance, tenant screening and more, contact Limestone Country Properties today!