Credibility and Trust with Buyers as an LLC

Having a limited liability company is a great way to protect both you and your business. It makes obtaining credit for business-related items simpler and increases the trustworthiness of your company in the eyes of buyers. An LLC provides tax benefits alongside the lability protection, which makes it a popular choice for Airbnb owners.
 

Spruce Up Your Unused Room

If you own an investment property and have an extra basement or room, consider utilizing it in a different way. You could transform it into another bedroom or living area to add value, create a kitchenette, or convert it into an office space. Doing so could lead to increased revenue and make the property more attractive to potential buyers.
 

Frequent Deep Cleaning

Cleaning is an important part of maintaining an investment property. Regular deep cleaning of all areas ensures potential buyers that the space is well taken care of. High-traffic areas such as staircases should be cleaned frequently to prevent dirt and debris buildup, which can leave a bad impression on viewers.
 

Refresh Your Kitchen

You don’t have to overhaul your kitchen to make it shine. Update a few old appliances to ensure they are energy efficient and consider updating the backsplash or painting the cabinets for an updated look. Also, make sure that the ventilation system is working properly to avoid smells and smoke damage. If the range hood is outdated, install a new one to increase the functionality of the kitchen. There are great ducted and ductless options available.
 

Smart Home Upgrades

Smart home upgrades are an effective way to increase the value and appeal of your investment property. Key enhancements can include installing smart thermostats for energy efficiency, adding smart locks for improved security, and switching to smart bulbs for cost savings and convenience. These tech-savvy features not only attract quality renters but also optimize property management and tenant satisfaction. Additionally, they can potentially boost rental rates and yield a higher return on investment. It's worthwhile to consult online resources for troubleshooting tips or guides on how to install and manage these smart home devices. By staying abreast of the latest smart home technology trends, you can ensure your investment property remains competitive in the market.
 

Beautify Staircases

Staircases are often overlooked during home renovations, but they play an important role in providing support between levels of a multi-story structure. Paint or wallpaper the stairs to add a splash of color and personality, and make sure all railings, steps, and lighting are secure and functioning correctly. This will ensure safety and comfort for visitors to your investment property.
 

Maintain Strong Foundation and Roof Structures

The foundation and roof of a building are integral components in providing protection from weather and other environmental factors. Regular maintenance is essential to preserve their integrity, as well as avoid costly repairs down the line. Additionally, reinforcing these structures with quality materials such as metal supports can greatly increase stability, especially for buildings that are three stories or taller.
 

Repair Rugs and Worn Flooring

Old carpets and flooring may look outdated, but they can also cause health problems due to dust mites. Regular vacuuming is not enough to keep your indoor air quality healthy. Hardwood floors with area rugs are a better option as they provide long-term durability, and design flexibility, and require minimal maintenance in the future.
 

Fresh Look Window Treatments

Rental property owners should be sure to match their curtain and drape colors with the décor found in other rooms throughout the property. Doing so will make guests feel like they are genuinely entering a home, not someone else's. Whenever possible, upgrade window treatments — even if they are plain-colored or modernly patterned — for an instant feeling of added elegance.
 

Compare Rental Prices

Renters and investors alike are finding it increasingly important to be aware of what other properties and apartments in the area are going for. Knowing market trends helps investors set competitive prices, and compare potential updates that could be made to their own units before listing them. This allows for more efficient and cost-effective improvements, so renters know exactly what price range they should expect for available units.
 

Consider Renting as a Vacation Home

Instead of using your investment property as a long term rental, consider listing it as a vacation rental. One helpful way to achieve a warm and inviting atmosphere that appeals to renters is by enlisting the help of an interior designer. They can assist with everything from selecting the perfect furniture and decor to arranging it all in a way that maximizes space and flow. By investing in staging, you'll better position your home to stand out from the competition and leave a lasting impression on your renters.
 

 

When looking to make improvements to an investment property, budget-friendly strategies are key. ROI-focused ideas such as inexpensive upgrades or subtle aesthetic changes can increase its value while still staying within a reasonable budget. Potential renters will be drawn in by the property and appreciate all the aspects associated with living there.

 

For your mortgage lending needs, contact Team Psaradelis today!