As a landlord, you always think about budgets and ways to cut expenses. Daily upkeep alone can chip away at profits. If it is still not possible to increase rent, you may not be able to spend capital on large-scale improvements. But, there are times when a modest investment can create amenities for tenants and possibly increase rental value. When it comes to property management in Thousand Oaks, CA, you need to explore cost-effective property improvements available for different budgets. These include the following:
Giving Your Walls a Fresh Coat of Paint
Your rental home’s walls will eventually show their age. Because of constant patches and touch-up paint, your walls may have a more worn-out look that can turn off possible renters. Adding a fresh coat of paint in a neutral tone will help restore the original beauty of your rental property. To save money, purchase paint in bulk from a local hardware store.
Doing a Power Wash
When renters look for a property to rent, they will see curb appeal first, so you need to make a good impression. Mold, mildew, and dirt build up on the exterior of your property, decks, driveways, and walkways. You can get rid of them through power washing, which can make a significant difference in the look of your property. This is probably the simplest way to improve your rental property. You can perform this task by yourself using equipment available for rent from a local hardware store. But, if a DIY project is not your thing, hire a pressure washing company to get the job done for you.
Updating the Fixtures and Hardware
Lighting fixtures, cabinetry hardware, and faucets can make your rental property look dated. But, you can swap them out to a modern or energy-efficient option that can alter the entire look of the space. By replacing the hardware, you instantly update the kitchen cabinetry for a fraction of the cost of a cabinet refacing or replacement. And if you choose to replace light fixtures, go for highly efficient LED bulbs to save on replacement frequency and utility cost.
Having Fresh Landscaping
Flowers and shrubbery can add warmth and color to your boring exterior. Possible renters are often attracted to a well-cared-for yard because this gives them a sense that you take care of your property. Landscaping suppliers are affordable and planned planting can keep your property looking beautiful year-round.