How to make your rental property investment successful?

May 24, 2018

Do you have a house or apartment that you have let on rent but aren’t happy with the outcomes? This happens to most people who rent their house or property for running income but don’t work on the house to make it profitable.

We, at Spacio Realtors have been helping people find a great rentable accommodation for themselves and hence we know what attracts people and what all things get a good price.

Rented acquisitions have a lot of things to be done right in order to truly fascinate the renter and get a great price on the property. If you have invested in rentable property, you would not want a meagre return on investment from it, hence, here are a few tips that can help you get more from your for-rent property.

Remove Personal Marks

If the property was being rented by someone else earlier or you have stayed at the property for some time, there’s a chance that personal marks have been left at the property. This is a big put-off for someone who visits your property to check it out. Therefore, you must remove any of the personal marks at the property.

Renew the Washrooms and Kitchen  

The first thing that a tenant looks at while inspecting the property is the washroom. They should be well maintained with 24 hour water supply and a ventilator with an exhaust fan. If you can arrange a looking mirror and a tidy cabinet for toiletries, it would be even better. Make sure that the washroom has been thoroughly cleaned once before the tenants visit.

If the apartment has a kitchen in it, the same treatment must be given to it. Try installing cupboards for high reaching shelves and provide basic appliances such as gas stove and a microwave oven. These things aren’t much expensive but add a high value to the kitchen utility.

Paint Touch Up

If the property is a bit old and the paint job is wearing off, it’ll be a great idea to give it a touch up. Maybe you could get a few coats done and hide the unappealing walls. A neutral color like white would be the best choice as it doesn’t offend personal preference of the tenants.

It’s okay if only the interiors are tweaked, the exteriors won’t need much of beautification. It’s the interiors that matter the most.

More Amenities

You can always go an extra mile for providing your tenants with increased comfort with the help of more amenities. You can supply electronic appliances such as a refrigerator, a TV, an STB etc that make the tenants feel at home.

TIn addition, you can partner with food service providers, launderers and house help agencies to make a complete package of the property on offer. The tenants can opt-in for these services if they like, which will get them easy convenience close at hand, and increase the chances of paying a higher rent.

Happy with the tips? Apply them now and let us know what your experiences were. If you need even more personalised property advice, reach to us via Spacio Realtor’s Contact Page!

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