Landlords often ask us how to get more rental income on their properties. Today, we are sharing some tips that are easy to implement. When you take these steps, you’ll be able to get more rental income and find high quality tenants faster.
Curb Appeal
Curb appeal is a huge factor. Making minor landscaping adjustments like mulch, cleaning the flower beds, mowing, weeding, and trimming all the bushes will make your property stand out. Those kinds of things can have a huge impact on the curb appeal of your home. If someone drives by and everything looks overgrown, they won’t want to rent it. So, clean and mow the front yard and make sure everything looks good.
Make Sensible Improvements
Another thing to keep in mind is that you don’t want to over-renovate. For example, it’s better to use tile instead of hardwood on the floors. Tile is less expensive and not as easy to damage. Focus on kitchens and bathrooms when you make upgrades. Those are the areas that sell the homes. Update faucets and fixtures, and put in modern kitchen appliances. These things will get you a greater return on your investment.
Don’t Replace When You Can Repair
Repair items instead of replacing them. Clean your carpet before you rush to replace it. With a good carpet cleaner, you can make a dirty carpet look brand new. Try to do touch-up painting instead of painting the whole house. This can save you money. Using a dry eraser can even work on some rough spots.
Keep a Clean Home
Make sure the house is clean before you show it. You want the ceiling fans to be wiped down and the bathrooms to be sparkling. Be sure to wipe down the baseboards. Especially in a vacant home, those things will stand out when someone walks in and looks around.
Broaden Your Tenant Pool
Allow pets. A lot of tenants consider pets as part of the family. Use a pet fee and allow pets in your home because that gives you a greater market pool. Do what you can to keep tenants happy. Less turnover will help you get more rental income. Give gift cards at Christmas, and pay prompt attention to repairs and maintenance. Consider offering your rental to Section 8 or HUD tenants. That will also bring you a wider array of potential tenants.
Property Management Orange Park
Last and most important, let your property be managed by a professional Orange Park property management company. This will make a major difference in bringing in more rental income. These are just a few suggestions on how to earn more rent. If you have any questions about this topic or anything pertaining to property management in Orange Park, FL, please contact us at Zenith Realty.