Four Surefire Ways to Help Increase Rent and Property Value


Four Surefire Ways to Help Increase Rent and Property Value

Whether you’re trying to flip an investment property or looking to increase rent and maximize your revenue stream, there are numerous ways for property managers to bolster a home or apartment’s market value. While some certainly require a decent amount of time and money, there are other options for landlords trying to spruce up a property to warrant a bump in asking price for next year’s lease.
Renovate the kitchen.
Renovating or remodeling a kitchen is perhaps the most reliable way to increase rent, but you should be deliberate in just how much money you put behind it. Spending 6 to 10 percent of the total property value on a kitchen remodeling will best set you up for a good return on investment. As with most remodeling jobs, you likely won’t get a full return on investment, but a renovated kitchen will nonetheless increase property value and, often just as important, shorten the amount of time it is vacant or on the market.
It’s easy being green.
There are numerous benefits for landlords choosing to go green, ranging from lower utility bills to attracting environmentally conscious tenants, and there is no short list of ways to make your property more environmentally friendly. Being able to advertise your property’s energy efficiency can prove to be a great marketing tool even as you plan to increase rent, and can attract younger generations willing to pay more. A recent study found that 72% of Generation Z respondents are willing to pay more for products and services dedicated to positive en……