Great Tweaks That You Can Make to Your Rental Property to Attract Renters
Posted by Tile Trader
with special thanks to Larry Waters for kindly being our guest author...
If you are planning to rent out an investment property or find a top buyer, then you need to make some modifications inside and out to attract the largest audience. From renovating your floors and walls, there is a ton of stuff that you can do, and we are here to help. At Tile Trader, we love to see how improvements can beautify a home, so we have some tips for changes you can make to get a nice return on your investment.
Consider Refinancing to Cover the Costs
The condition of your rental property will reflect how much you need to pay for repairs, but it is not uncommon for the cost of a remodel to be upwards of $16,000-$50,000. Even if you need to make more minor changes, you could still be looking at thousands of dollars. If you don’t have the cash on hand then you may need to look at other options, such as considering a home loan refinance.
Essentially, this process includes replacing your current mortgage with a new loan that could save you money. You can also refinance so that you get a larger loan. Then, you can use the difference between the two loan amounts to make your repairs and adjustments. It is a wise idea, especially if you know that you will get a pretty penny once you put the house up for rent. Just keep in mind that you will need to apply and go through underwriting, so plan accordingly.
Modifications to Consider for Your Property
When it comes to modifying your home, start by fixing anything that is broken or out of shape. That might include cleaning carpets, replacing tile inside and outside, fixing any broken appliances, and working on your curb appeal. That means power washing the walls and the deck and repaving the driveway, if necessary.
You can also add new elements to the property, like eco-friendly appliances and larger closets. Outside, you might add more entertainment spaces like a deck, patio, or pool. You can also make many small changes such as redesigning your driveways and patios with pavers, adding glass mosaic tiles to your pool design projects, or adding an authentic and rustic touch to your decks by using natural stones, ledgers, and porcelain tiles. Take a walk around the house and see what works well and what you can afford.
Considering kitchens are the hearts of our homes that we spend most of our family time, starting with a stunning kitchen design or remodel can make your kitchens as focal points as well as adding great selling value to your homes. You can create a joy for yourself and refresh the look of your homes by picking a stunning glass or porcelain mosaic backsplash, but just make sure it pairs your counters and cabinets well. Having non-slippery porcelain tiles, whether be wood-look or marble-look porcelain tile would complete your show in your kitchens.
Use Online Tools to Create an
Once you have made all the necessary adjustments, it is a good idea to create a video that you can show online and to potential renters that highlights all of the great modifications that will make your home most appealing. You can either show a tour of your home or point out specific amenities that you think people will enjoy.
If you are like many people, then you will likely have many different clips as you are filming your home, and you will need to edit them together. To do so, you can merge and combine video online so you can create a continuous presentation. It will also make it easier to single out some of the biggest moments that you really want people to see. Once you are done with your edits, you can download the file and upload it to your own website.
As you can see, there are many improvements and a lot of tactics that you can use to make your investment property more appealing to renters. If you need money, then consider refinancing, and then make a great video to show off your work. The profit will be worth the effort. If you want to see your options for best-quality and most versatile tiles and natural stone options, visit our showroom or www.tiletrader.com. For any further help, don't hesitate to give us a call at 832-834-5000."