Home Improvement: Three Essential but Affordable Upgrades for Your Rental Properties

rental properties

“Our form of relaxing is taking on new projects for the house. It does not work for us—it is a true labor of love.”-Mark Hellman (homeowner)

One of the excellent avenues for financial freedom is to invest in real estate. Owning several properties for example, and renting them out to individuals and families can be a potential cash cow—and you will be surprised at the steady amount of profit that routinely comes every month. However, this is not always the case as owning a rental property does not always mean that tenants would come clamoring for you. After all, there are a lot of rental properties in existence; you have to find ways to ensure yours stand out. Furthermore, rental property management is not as easy and straightforward as it looks—there is a myriad of things you have to put into consideration such as collecting rent and necessary rental repairs. But while you can easily put collecting rent on autopilot, necessary rental maintenance, however, are not so negligible. If there is one thing that is paramount to keeping your tenants happy, it is to ensure that their rental properties are satisfactory and are serving them well. Remember, property upkeep and maintenance can quickly eat into your revenue and cause stress so it would make more sense if you routinely repaired and occasionally upgraded your rental properties.

You do not have to worry though; there are ingenious and affordable ways you can increase your cash flow while you are upgrading your property—regardless of whether the property is a condo for rent in Taguig or elsewhere.

1.) Replace Cabinet Doors

There is nothing more infuriating than staying in a home that has cabinets that do not fully close or worse, cabinets that are about to fall apart. Cabinets are easily overlooked when it comes to repairs and home upgrades, but simply replacing them can make a world of difference. Instead of replacing any worn-out cabinets entirely, simply replace just the cabinet doors but instead of using cheap wooden doors that easily break down, use solid wood doors that are of high-quality. Take it a step further by finishing it up with functional hinges and knobs then paint the doors.

2.) Add a Fresh Coat of Paint

Simply applying a fresh coat of paint to a room can instantly enhance its aesthetics. For this reason, painting the rooms of your rental properties is paramount to any home improvements you make. In fact, you might be surprised, but painting has the highest return on investment when it comes to home improvements. Furthermore, you can enjoy an even bigger return on investment if you bought the paint in bulk—this is because you get discounts when the paint is purchased in bulk. Unfortunately, you have to be extra careful when buying paint as if you have to do any touch-up work; it can be rather hard to match paint colors.

3.) Replace Doors

Doors are the first thing to get damaged at rental properties depending on usage. Unfortunately, most landlords and investors tend to overlook damage doors or simply just cover it with some touch-up paint. But while touch-up paint might make a damaged door look new, it is a Band-Aid solution that does not enhance the overall visual aesthetic of a home. New doors on the other, would significantly increase a rental unit’s visual appeal—and they are not that expensive. So, instead of painting damaged or old doors that are going to end up looking like a botched rental job anyway, replace them entirely.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.