Quick And Easy Upgrades For Maximum Return
Today’s rental market is fast-paced and rents in the Jacksonville metropolitan area have increased 7% since this time last year. Many new apartments are in the process of being built and there are lots of people who want to live in a brand new space. Most of these new units are being offered at market rent or higher. However, since they are new, they will not have the historic feel of the neighborhoods. Many prospective renters want to live in a settled neighborhood with little or no infill housing. You may even own one of these gems. You may be able to raise your rent for a new tenant or when a current tenant’s lease is up for renewal. Here are a few quick and easy upgrades that will help you get maximum return…
Renovating bathrooms doesn’t have to be a budget buster. How about repainting in a trendy neutral color, changing light fixtures to something a bit more contemporary? Providing a new toilet seat between tenants is a minimal expense but one that is greatly appreciated.
Kitchen redos are expensive but sometimes painting cabinets and changing their hardware can make a huge difference. New MPT and low VC paint are appealing to both landlords and tenants alike. The paint is durable and has almost no odors. Updated lighting or new ceiling fans again add appeal.
Other inexpensive fixes could be replacing old vinyl floors with laminate flooring or just installing fresh new mini blinds on all the windows. Lastly, be sure ‘Mrs. Clean’ runs through the unit to have it showing as spotless. Your pocketbook will thank you.