Are you looking for some ways to increase your rental property value and boost your rental rates in Palm Coast? Below are some simple rental property upgrades that can beautify your property and add amenities that will attract tenant prospects.
If your rental property contains appliances, choose high-quality, durable replacements that come with good warranties. Make sure your appliances all match. For instance, if you choose a stainless steel refrigerator in the kitchen, try to match it with a stainless steel oven and a stainless steel dishwasher. You may even want to accent it with a stainless steel microwave. The same goes for a washer and dryer. Instead of piecing the set together, purchase a matching set.
If you have a little room and want to add a few highlight features, try adding a toaster, wine cooler, an extra freezer, or coffee machine. Make sure you purchase durable appliances that require less maintenance.
Here are some common appliance features that are popular with renters:
Flat top, easy-to-clean, electric range
Easy-to-clean stainless steel
20+ cubic foot refrigerators 9+ cubic foot freezers
Water/ice cube dispenser
Gas-powered appliances (specifically, a clothes dryer)
Side-loading durable clothes washer and dryer
ENERGY STAR appliances
Quiet, but powerful range hood fan
Wall Outlets with USB Charging Ports
The average four-member household uses around 25 to 30 total USB-powered devices. That amount is expected to double by 2025. So, while it may not seem like a big selling point, installing wall outlets with USB (or similar) charging points is an instant eye-catcher with both couples and families.
The best USB wall outlets contain USB Type A and Type C charging port that can accommodate mobile devices such as phones, tablets, e-readers, and other devices. Since wall ports can charge twice as fast as plug-in ports, they are far more appealing. Make sure that all wall ports are UL listed and compliant with the National Electric Code (NEC). You may also want to purchase outlets with multiple USB ports.
Webcam Video Doorbells
70 percent of the 1.5 million burglaries that occur nationwide each year are residential. Therefore, security is a top-selling point with renters. Tenants also value their privacy. You can address both these issue with a simple webcam video doorbell upgrade.
A webcam doorbell allows tenants to see who is knocking or ringing the doorbell from any location. A webcam enables viewers to screen and record visitors and keep an eye out for expected packages. The device offers both audible and smartphone notifications via a smartphone app, which stores recordings in a cloud platform for easy access. Most models are compatible with smart-home automation systems and any remote device.
Storage is another top priority for renters. There are several ways that you can maximize storage space in your rental property. Some ideas include:
Entryway and bathroom hooks
Closet organizing systems
Pantry, garage, and closet shelving
Mounted racks in the kitchen
Keep in mind, your storage solutions should add value to your rental property without killing your budget. So, balance your costs and your expected ROI. Your storage solutions can be elaborate or simple. No matter what the design looks like, it has to make sense to renters.
One of the most striking features of a modern rental is a studio look or open floorplan. Today’s renters want more space to move around and entertain guests. A simple adjustment like knocking out a wall can make a huge impact on your rental’s interior design.
While there may some costs associated with knocking down a wall such as rerouting wiring or a plumbing design, the renovation is relatively simple, fast, and can pay big in making your rental more attractive to tenants.
Working with Your Property Manager
Your property manager can assist you with the planning, budgeting, and execution of your property upgrades. Everest Property Management rental experts can make recommendations on the right upgrades that will add value to your rental, as well as make it more attractive for tenants.
Your property manager can also identify reliable vendors in the area that can help you complete your project to your specifications while saving you money. Our property management team can help you with all the aspects of your project from start to finish.
Property Management Services in Palm Coast
Everest Property Management is a Palm Coast-based company that helps people find homes to rent and manages properties for real estate investors. We work with investors to identify investment opportunities in the Palm Coast area. By partnering with our property management experts, you can get a higher ROI out of your property.
To find out more about our products and services, call us at 386.246.2085. You can also message us on our contact page.