investing in your investment property - 7 more tips

Are you wanting to make your investment property look its best? It is essential to make a good first impression with potential renters, so it’s important to take steps to maximize your return on investment (ROI). In today’s article, courtesy of Megan Cooper of RealLifeHome.net, we’ve put together a list of tips on the most ROI-friendly ways to improve the look of an investment property.

1. Freshen Up the Interior with Neutral Colors

A fresh coat of paint can do wonders when it comes to updating the appearance of a room. Opt for neutral tones such as whites, grays, and beiges. These colors are classic and timeless, so they won’t go out of style anytime soon. Plus, neutral colors can help make a space feel larger which can be appealing to potential buyers or renters. Another great tip is to paint all the walls, ceilings, baseboards and doors the same color! Believe it or not, the natural lighting of the room makes it look like different colors, and it makes it that much easier to touch up/repaint between renters.

2. Invest in Window Treatments

Window treatments can create a dramatic transformation in any room. Investing in window treatments is a smart decision as they can add style and increase energy efficiency. When choosing window treatments, pick something that adds texture and color without being too overwhelming. Simple curtains can offer privacy and shade when needed, and are easier to replace than traditional blinds.

3. Furnish for Vacation Renters

Furnishing your investment property as a vacation rental is a strategic move that can significantly enhance the appeal and comfort of your space. Key to this is the master suite, where guests expect a restful sleep experience. Finding king mattresses that offer a balance of comfort and support is essential in creating an inviting atmosphere. A king-sized mattress not only offers ample space but also provides the level of comfort and support that guests appreciate after a day of vacation activities. By carefully selecting a mattress that meets these criteria, you are ensuring a luxurious and satisfying stay for your guests, which could lead to positive reviews and repeat bookings.

4. Enhance Natural Lighting

Natural light is an essential element for creating inviting and welcoming spaces to draw people in. Swap curtains with lighter materials such as sheer drapes, which still provide some privacy but let natural light come through. Installing skylights or solar tubes can also help increase natural light indoors without needing to open up walls or ceilings, and may save energy costs over time.

5. Offer Smart Tech Features

Smart technology has become a popular option in recent years. It offers many benefits such as improved security, the convenience of voice-controlled lights and thermostats, and energy savings via automated temperature adjustment. Installing smart technology can also add value to a home when renting due to it being an attractive luxury renters desire.

6. Modernize Windows and Doors

Replacing older windows and doors is a great investment that can improve the insulation of a home. This helps to reduce energy bills over time, while also enhancing the look of the house - both inside and out. Investing in an upgrade before listing a property could mean higher rental prices due to the improved appearance compared to older, damaged versions.

7. Make Room for More

Adding creative storage options to your rental can make it more attractive to potential tenants. Not only does adequate storage space keep the property neat and organized, but it also gives tenants a sense of security in knowing their belongings are safe. Having enough storage could also help reduce clutter, giving renters more free living space. Furthermore, adding additional storage could increase the value of a rental property and make it more desirable than other competitors.

For your commercial or residential real estate needs, contact BRC Real Estate today!