The local Goose Creek rental market typically drives what owners can charge in rent. However, there are certain things you can control when it comes to establishing a competitive and profitable rental value. The condition of your home, for example, impacts what you earn in rent. If you want to maximize your rental income, consider making some simple and cost-effective improvements to your rental property.
Give Your Walls a Fresh Coat of Paint
New paint can make your rental property look brand new, and it doesn’t cost much. Instead of touching up nail holes and faded parts of the wall, do a complete paint job. It makes a big difference, and this will help you show the property better.
Best practices say you should keep the walls neutral, and that’s a good idea. It doesn’t mean that the same boring shade of white has to be used, however. Consider shades like eggshell, light grey, and off-white. You can even paint the trim and baseboards a different color to add interest and texture.
Upgrade Floors and Consider Abandoning Carpet
For many decades, carpet has been the standard in Goose Creek rental homes. Carpet still works in bedrooms, and it’s something many tenants will expect. Make sure they have fresh carpet when they’re moving in. No tenants will be eager to rent a home with stained or torn carpet.
If you’re looking for more rent, consider installing upgraded flooring. Some types of vinyl look great and don’t cost a lot. Faux hardwoods are also popular. These are cleaner and easier for tenants to maintain. You’ll also have a longer lifespan, which means you won’t be cleaning and replacing carpet every year.
Improve your Window Treatments
Prospective tenants will be looking at your windows before they even enter the property. If they see bent blinds or torn screens, they’re not going to be very impressed. Replace those cheap plastic blinds with horizontal wood blinds or linen shades that are easy to pull up and down. This requires a minor investment and can help with rental value and tenant placement.
Check your windows out while you’re changing out the blinds; you want to make sure the screens are free of holes. Good windows will insulate the property and protect it from drafts and insects.
Upgrade Your Interior and Exterior Lighting
Lighting is a big part of maximizing your rental income. Tenants want a property that’s safe and secure, and lighting is a part of that. Evaluate your exterior lighting, and make sure there’s enough of it. Your residents want to feel safe at night, and you’ll want to be sure exterior doors, walkways, and parking areas are well-lit and easy to see from the street or inside the property.
Inside the home, make sure the lighting is bright and modern, especially in the kitchen and the bathrooms. Ceiling fans are popular, especially in bedrooms and living rooms. Take a good look at your lighting and make upgrades wherever you can. It doesn’t have to be expensive, and it will make your home look good.
With a few simple updates, you can earn more on your rental property and attract better tenants quickly. If you need help leasing and managing your Goose Creek rental property, please contact us at ROG Coastal Property Management.