{"id":19427,"date":"2020-10-09T12:23:45","date_gmt":"2020-10-09T17:23:45","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=19427"},"modified":"2020-10-09T12:23:45","modified_gmt":"2020-10-09T17:23:45","slug":"boost-property-rental-value","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/boost-property-rental-value\/","title":{"rendered":"These 5 Home Features Will Boost Your Property\u2019s Rental Value"},"content":{"rendered":"

In the age of COVID-19<\/a>, media rooms and party basements are on the out as sought-after home features. To attract tenants, owners of rental properties must adjust to changed priorities.\u00a0<\/span><\/p>\n

The pandemic has fundamentally altered the rental market. Many people <\/span>deferred buying first-time homes<\/span><\/a> because of the crisis and economic uncertainty, giving a boost to the market. In other areas, such as San Francisco, rental values plummeted by as much as 20%, as renters moved out of cities and to more open spaces.\u00a0<\/span><\/p>\n

Adjusting your real estate strategy and outfitting your property with desirable features is the best way to <\/span> Most times, minor changes and small investments can significantly increase your rental value.\u00a0<\/span><\/p>\n

Here are five features of properties that apartment dwellers look for in 2020 on the search for a new home.\u00a0<\/span><\/p>\n

1 – Home Office Spaces\u00a0<\/strong><\/h2>\n

With the rise of remote work during the pandemic lockdowns, having <\/span>a dedicated home office space<\/span><\/a> makes peoples\u2019 lives so much easier.\u00a0<\/span><\/p>\n

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Proper lighting, internet access, a spacious desk, and an ergonomic office chair. These are basic requirements for an efficient space to work from home. Throw enough power outlets, a shelf, and sufficient distance to noisy apartment areas into the mix, and you\u2019ve got yourself a winner.\u00a0<\/span><\/p>\n

Investing in outfitting part of your property to serve as a home office is worth it. Even with pandemic restrictions easing, <\/span>many companies say<\/span><\/a> they will keep remote work an option, at least in part.<\/span><\/p>\n

2 – Fast Internet\u00a0<\/strong><\/h2>\n

For those working from home, fast internet is indispensable. Invest in a <\/span>high-bandwidth internet access<\/span><\/a> in your property, and it will turn into a magnet for professionals working remotely.<\/span><\/p>\n

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In certain areas, this will be more difficult than in others. It could even require getting a dedicated line. In the past, this might have been too expensive – but with maintenance costs decreasing, and renters willing to pay a premium for reliable, fast internet, it will be worth it.\u00a0<\/span><\/p>\n

3 – Established Appliances\u00a0<\/strong><\/h2>\n

Outfitting your apartment with appliances – from a dishwasher to a dryer – is a minor investment that pays off big time.\u00a0<\/span><\/p>\n

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Surveys show<\/span><\/a> that renters consider it a major plus point when a potential new home comes already equipped with household devices. It saves them lots of hassle when moving between places.\u00a0<\/span><\/p>\n

Amid a pandemic, finding an apartment and coordinating the move is tough enough without having to worry about measuring the space for a fridge or waiting for a washing machine delivery.\u00a0<\/span><\/p>\n

4 – Kitchen Upgrades<\/strong><\/h2>\n

Anyone who\u2019s forayed into social media over the past few months knows people are dining out less and <\/span>cooking at home more<\/span><\/a>. Millions of sour-dough selfies are a testament to that.\u00a0<\/span><\/p>\n

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This means upgrading your rental property\u2019s kitchen is a major winner. Put in a modern stove top, improve counter space, and add space with a smart storage solution. <\/span>These tweaks are not expensive<\/span><\/a>. But they can make all the difference for a brand-new hobby cook looking to rent.\u00a0<\/span><\/p>\n

Plus: It\u2019s a good investment for the future. The eat-at-home trend is likely to continue, with dining out carrying a virus risk and a higher price tag in economically uncertain times.\u00a0<\/span><\/p>\n

5 – Energy Efficiency<\/strong><\/h2>\n

Ecological considerations are becoming ever more important for potential tenants. Additionally, thanks to COVID-19, they are spending much more time in their homes rather than in offices, at the gym, coffee shops, or other community spaces.\u00a0<\/span><\/p>\n

Consequently, <\/span>increasing your rental property\u2019s energy efficiency<\/span><\/a> has a double benefit for renters: A clear green conscience, and lower power bills.\u00a0<\/span><\/p>\n

Add better insulation. Exchange old power-gobbling appliances for more efficient modern ones. Upgrade your property\u2019s heating system and air conditioning to something more eco-friendly. Maybe even stick some solar panels onto the roof. These are critical investments for the future.\u00a0<\/span><\/p>\n

Pro Tip: Make Inquiries With Realtors in Your Area\u00a0<\/strong><\/em><\/p>\n

Finally, note that the exact features people search for vary by area. In a small city apartment, a home office corner may clinch the deal for potential tenants. A house in a storm-prone rural town could soar in value if you add an emergency generator in the basement.\u00a0<\/span><\/p>\n

If anyone knows what the top desirable bullet points in any listing near you are, it\u2019s real estate agents. Browse property pages and filter for your area, or <\/span>find trustworthy realtors in listings and rankings<\/span><\/a> online, and reach out to them.\u00a0<\/span><\/p>\n

In most cases, they\u2019ll be happy to give you an inside scoop – especially with a potential collaboration in mind.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In the age of COVID-19, media rooms and party basements are on the out as sought-after home features. To attract tenants, owners of rental properties must adjust to changed priorities.\u00a0 The pandemic has fundamentally altered … <\/p>\n

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