Get To Know Your Lo­cal Trades Spe­cial­ists...

Guardian Express - - RESIDENTIAL -

FROM IN­CREASED PROP­ERTY VALUE to ten­ants that stay longer, there are many ben­e­fits to ren­o­vat­ing an in­vest­ment home.

When seek­ing new ten­ants a few sim­ple im­prove­ments can make all the dif­fer­ence to put the home at the top of prospec­tive res­i­dent’s lists.

A fresh lick of paint can in­stantly brighten the home and make it ex­tra wel­com­ing, while new cur­tains or blinds en­sure it is neat and com­fort­able.

In­vest­ing in stor­age such as built in robes can also be a great way to make the home de­sir­able to save ten­ants hav­ing to buy new stor­age fa­cil­i­ties.

Other ad­di­tions could be in­stalling a dish­washer and an air­con­di­tion­ing unit, all help­ing to in­crease the leas­ing value of the prop­erty and en­sure that the ten­ants will want keep leas­ing. If the home has cur­rent ten­ants, there are still ad­van­tages to con­duct­ing ren­o­va­tions. Lis­ten­ing to any sugges­tions the ten­ant has will en­sure they will want to keep rent­ing.

Some may be happy to pay more rent if they feel their con­cerns are be­ing lis­tened to and that they are be­ing pro­vided with ex­tra ameni­ties.

It also helps with know­ing what those in the rental mar­ket want from a home, which is ex­tremely ben­e­fi­cial for fu­ture leas­ing.

Al­though ren­o­va­tions may seem to costly to be­gin with, the re­sult­ing in­creased value of the house and the higher chance of ten­ants re­new­ing their lease makes im­prov­ing the rental prop­erty a worth­while in­vest­ment. With a com­pet­i­tive rental mar­ket, any im­prove­ments you can make to your prop­erty will make yours stand out in the crowd.

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