Proper planning to upgrade your single-family rental home annually is not just a wise investment strategy but actually also a financial security measure. Just as rental homes must be regularly maintained, they should specifically be updated to keep them current and competitive in the market, thereby completely making sure of a steady increase in property value in the long run.
Property values throughout Beebe rely unquestionably on the home’s condition, so investing a little to touch up things every once in a while certainly is worth the time and cost involved.
But be careful, not all upgrades bestow direct benefits for property owners. In reality, certain enhancements have very obvious advantages for residents but don’t add much to the property’s value or help protect your investment better.
Reasonable upgrades to maintain property value
Bringing in new kitchen cabinets in your rental properties may often look like an upgrade that would benefit you and your residents. Your residents will be so happy with nice cabinets, and you might reckon that new cabinets would keep your property values mounting. But in point of fact, kitchen cabinets are one upgrade that isn’t worth the cost because any increase in value you might see won’t quite match up to what you’ve spent on the job.
If the kitchen cabinets in your rental are in downright dismal shape, you should properly replace them with something appropriate. Otherwise, a good cleaning or a coat of paint or stain is all your cabinets need to keep them looking wonderful.
Fancy stylings usually do not add to property value
Another upgrade that has far more benefits for the residents of a rental home than for the owner is high-end window treatments. To customize their space, residents may oblige you for upgraded blinds, valences, or drapery systems.
But while owners expect residents to make a rental home comfortable, there’s no tangible benefit to providing any window treatments beyond a few suitable but essential blinds or shutters. Fancy window treatments don’t add a lot to the overall value of your property and are tied so very closely to an individual style that they indeed scarcely have wide appeal.
Trendy decorative features may not benefit tenants
Speaking of personal style, other decorative features like custom garage doors, upscale paint colors, and so on seem like a nice way to entice quality residents. But really, as with window treatments, the appeal of decorative features is a matter of personality. This is the reason, upgrading beyond good quality, basic doors, windows, and interiors holds slight to no benefit for property owners.
Residents may appreciate trendy decorative features for a certain period of time, but as trends change, so will that allure. To build up a quality home with lasting appeal, avoid the ever-changing trends and conform to the less exciting but practically more tried-and-true décor for rental homes.
Whether you’ve executed upgrades or not, rental property maintenance should, in any event, be a priority to maintain value. At Real Property Management Delta, we take proper care of your Beebe investment while establishing awesome relationships with your residents. For more information with reference to our property management services, please contact us online or at 501-404-0674.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
