An important aspect of keeping your Caldwell rental property profitable in the long term is implementing regular updates. Mostly if your rental house is older, you can and should be doing things to modernize your rental each year to guarantee that you can maximize your rental rate. The good news is that there are numerous minor updates you can do to make it look and feel more modern without investing a huge amount of cash. For instance, simply upgrading your outlets, light fixtures, and locks can help increase your property’s value, add charm and ensure that you are keeping pace with other rentals in your market. In this section, we’ll highlight why these three upgrades are essential for all rental property owners.
One aspect that can make a property look and feel neglected and old is yellowed or outdated electrical outlets. Wrecked or mismatched electrical plates are an eyesore, but the outlets themselves can also become a major issue for potential tenants. This is particularly evident today since so many people rely on multiple electronic devices, like smartphones and computers, to accomplish day-to-day life. Simply replacing some of your old outlets with new versions that contain USB ports can make a huge impact on your renters. Also, replacing your outlets is commonly a cheap and uncomplicated job that you or an electrician could do in a short period.
Lighting is another great choice to keep on your upgrade list. Same as with electrical outlets, substandard, cracked, or outdated light fixtures may impede an otherwise clean and tidy interior. Modernizing your light fixtures or replacing older style light bulbs with LED bulbs can make a huge difference. New light fixtures will make your interiors brighter and feel modern and neat. Besides, it’s frequently easy to find new light fixtures for a reasonable price, and replacing them is another small job you or your electrician can easily handle. In effect, with the right lights and a little effort, you could give your rental’s kitchen or other rooms a lot more custom feel your tenants will adore.
Ultimately, a last smart upgrade with a bit of budget is to replace your standard deadbolt or other door locks with a smart lock system. A smart lock is just what it sounds like: a Wi-Fi or Bluetooth-enabled door lock that you can control from a smartphone or other device. Smart locks are a wonderful choice to upgrade your rental property’s security without going all out on a full security system.
Not only can your tenants lock and unlock their door without the problem of a key, but most smart locks will also allow them to see data about who is going in and out of the property and when. Smart locks are also useful for property owners because you can set temporary access codes and then change them when needed, say if a handyman wanted access to the property to undertake some repairs or between tenants. Plus, you’ll never need to worry about your tenants keeping extra copies of their keys when they move out.
Would you like to discover more low-budget ways to upgrade your rental property and increase your rental income? Give Real Property Management Nampa a call! Our local Caldwell property management experts can help you maximize your cash flows while helping you grow your property’s value. Contact us online today!
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