If you had the budgets that some of those DIY shows on television had, you could have a heyday with renovations and improvements for your Riverdale rental value. But in the real world, making significant changes can be too costly, at least to do them all at once. However, there are a few practical and easy ways to improve your rental property’s value without breaking the bank. Today, we’ll highlight four simple, affordable ideas and within reach, that can add real value to your Riverdale rental property investment. After all, the difference between your property being worth $250,000 and $300,000, doesn’t have to be $50,000.
Adding Rooms, Closets, or that Second Bathroom Sink
If your Riverdale rental value needs a boost, consider adding an additional room. Of course, this will depend on the layout and feasibility of your rental. But if you can carve in an extra bedroom, with a window, or a bonus room, it can present substantial added value to the home. If a room addition isn’t an option, the experts will suggest ramping up the closet space. Spacious closets or making use of a space under the stairs will provide better storage capacity. For floor plans that don’t allow for rooms with doors, consider adding a second sink to the master bathroom. Fixtures and extras like these can add value to your spaces, and ultimately to the rental as a whole.
Smart Technology Enhancements
Another advertising bonus and value-added feature to consider is home automation. Incorporating smart technology into the home seriously improves your investment. Doorstep video cameras, smart device-controlled thermostats, and voice-command lighting can provide your tenants with the best tech. It also infuses your Riverdale rental value with a state of the art home automation upgrade. Home automation is in high demand as renters seek out convenience and intuitive controls within their living spaces.
Paint, a Home’s Version of a Facelift
Sometimes all a property needs is a fresh coat of paint. Painting can give your rental property the facelift it needs. Exterior paint can revitalize the look of the house. But it can also be a game-changer for improving the look of a privacy fence or front door. Take the paint inside and brighten a room with lighter, neutral colors. Painting can be inexpensive, even if you outsource the work to professionals. It’s a small investment that can improve your ROI.
Curb Appeal 101
The experts usually suggest paying attention to the curb appeal of your rental property first. But adding value means going beyond planting some shrubs or reworking the window boxes. To really improve the property, look to make enhancements that preserve the life of the home. For example, fresh gutters, with proper extensions will refine the look of a roofline, but also will channel rainwater away from the foundation. Keeping tree limbs trimmed will keep the property looking manicured. It also will prevent potential roof damage from low hanging branches. Incorporating yard, lawn, and porch lighting will increase the aesthetics and visibility of your property’s exterior and deter vandals and thieves at the same time.
When it comes to improving your Riverdale rental property’s value, there are dozens of investments you could explore. But if you have a budget in mind, leveraging some of these easier and more affordable upgrades can certainly make a difference. And when you’re ready to take your property management efforts and strategies to the next level, consider partnering with us. Contact us today to learn how our Riverdale rental property managers can be a resource of ideas and tools to make the most of your rental investment.
