Cost-effective Ways to Increase Rental Property Value

All landlords want to get the most for their properties, as in the end it is a money making business for them. Usually increasing the rental price of any property involves spending a lot of money too, which in many situations can seem kind of counter-productive.

However, there are plenty of ways you can get the most for your rental property when working within a budget. The main two things every house or flat that is seeking new tenants needs to be is clean and new looking and there are various ways this can be done without spending thousands of pounds.

Paint the Key Areas

Repainting all the rooms in your property will make it instantly more attractive to potential clients and increase its value. When time is of the essence or you cannot afford the resources (paint and labour costs) then simply focus on the most important areas. First impressions count so repainting the front door so it looks nice and smart is vital. Touching up any other exterior areas, walls or staircases that are instantly seen when entering is a good idea too.

Add Shine to Appliances

Potential renters will be looking for new appliances, from the fridge to oven. Installing brand new ones every time your property gets a new tenant will be incredibly expensive. Instead clean them to the best of your ability and apply plenty of polish where possible to make them look as good as new. This will impress those viewing the property and add some value to it.

Include Extras

When showing potential tenants around it is a good idea to point out any extras you could throw in. For furnished flats or houses most tenants will expect it to include a fridge, freezer, oven and washing machine. Add in a dishwasher or television and even though you will have to pay for it upfront it can soon be recouped by earning you and extra few hundred pounds in rent each year. Plus such appliances will usually last for five to ten years.

Use Expert Help

Hiring outside help can increase the value of a rented property, such as getting professionals to give the house or flat a professional clean. Using a company that can take care of all your landlord insurance worries is a good idea too, as this will free up more of your time to focus on making cheaper adjustments to increase property value.

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