{"id":19456,"date":"2020-10-01T09:27:13","date_gmt":"2020-10-01T14:27:13","guid":{"rendered":"https:\/\/www.abodo.com\/blog\/?p=19456"},"modified":"2021-01-05T09:32:42","modified_gmt":"2021-01-05T15:32:42","slug":"keys-to-increasing-your-rental-value-in-2020","status":"publish","type":"post","link":"https:\/\/www.rentable.co\/blog\/keys-to-increasing-your-rental-value-in-2020\/","title":{"rendered":"Keys to Increasing Your Rental Value in 2020"},"content":{"rendered":"

Many people want to know how to increase their properties\u2019 rental rates<\/a> as most are usually frustrated with the low rental rates that they\u2019re seeing, and are wondering what they can do to raise them up. If you\u2019re one of these people, what you need to do is to simply be aware of some <\/span>tips ab<\/span>out how to increase your rental rates, as well as making some minor changes.<\/span><\/p>\n

How To Increase Your Properties\u2019 Rental Rates<\/b><\/h2>\n

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Observe The Rental Rates Of Other Houses Near You<\/b><\/h3>\n

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The biggest factor when it comes to rental rates is location. If you\u2019re in a bad location, it will have a big impact on your house\u2019s rental rate. Unfortunately, there\u2019s not much you can do if you\u2019re in a bad location. Your best option would be to sell your house for cash. There are a few companies that can help you make this process easy and can give you a cash offer the same day. One good example of a company like this is <\/span>Offer House<\/span><\/a>, which provides its services with no pressure and no fees.<\/span><\/p>\n

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Make Sure You\u2019re Asking For A Fair Rental Rate<\/b><\/h3>\n

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One thing you\u2019d want to make sure of is that you\u2019re being fair with your tenants. You don\u2019t want to be viewed as a landlord who\u2019s only looking to take advantage of their tenants. In fact, you want to be a landlord who\u2019s known to make their tenants happy so they will continue to rent from you. So, when you talk to your tenants, make sure you don\u2019t try to pressure them into paying more rent than they should for your property. Instead, make them feel at ease and encourage them to take full responsibility for keeping the property in good condition.<\/span><\/p>\n

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Make Sure Your House Has Adequate Flooring<\/b><\/h3>\n

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This may sound like a no-brainer, but making sure th<\/span>at the flooring<\/span> is in tip-top shape is also a great way to get your tenants to pay for higher rental rates. Even if you have a nice home with a great view, your tenants will still find it unappealing if the floor is filthy, or if there\u2019s an unpleasant smell in the house. You need to make sure that your house looks great and that the carpet looks good. You do not want to scare away new tenants with a home that looks dirty.<\/span><\/p>\n

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Paint The Outside Of Your House<\/b><\/h3>\n

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Painting your home is a good way to boost its value. If you think you\u2019re up to the task, you should try painting it yourself to save money instead of hiring painting services. Make your property appear brighter to a potential tenant by giving the home\u2019s exterior a more appealing look. Consider painting the outside of your home to match the exterior walls. This will add to the overall value of your home and allow it to appear even more attractive to potential renters.\u00a0<\/span><\/p>\n

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Repair Any Damage To Your House<\/b><\/h3>\n

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The most important thing you can do to increase your home’s value is to properly repair any damage that has been done to it over the years. If you know what to do, then you should be able to fix just about any problem related to its condition. If not, you should call in a professional who can take care of these issues.<\/span><\/p>\n

By remodeling the home, you can increase its value and convince tenants that an increased rental rate is justified. However, keep in mind that this is something that\u2019s best left to professionals because they know what kind of remodeling will work best for your rental property. <\/span>Improving the kitchen<\/span><\/a> and bathrooms can be a good starting point if you want potential renters to pay for a higher rental fee.\u00a0<\/span><\/p>\n

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Do Some Landscaping<\/b><\/h3>\n

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Another thing you can do to increase your home’s value is to add landscaping around the rental property. Adding trees and flowers to the yard can really make the property look nice. You can also add lighting and other features, like a small pond if you really want to go the extra mile in beautifying the yard.\u00a0<\/span><\/p>\n

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Add Security Features<\/b><\/h3>\n

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One of the most important ways to increase your house’s rental rate is to add home security features. Potential tenants, especially those with families, are more inclined to pay a higher rental rate for a home that has added security given today\u2019s increasing crime rates. Safety is paramount so it will be easier to convince them of the property\u2019s great value if security features are installed.\u00a0<\/span><\/p>\n

Home alarm systems don\u2019t have to cost you a lot of money. In fact, they can sometimes be as low as $100. Choose affordable home alarm systems as these can be great investments that can help add to the property\u2019s rental rate.\u00a0<\/span><\/p>\n

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Add A Patio To Your Yard<\/b><\/h3>\n

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Another way to raise your home\u2019s rental rates is by adding a patio to your yard. Aside from adding value to your home, it will also give your tenants more space to hang out with their families and friends. A patio can also double as a second family room and even an outdoor kitchen, which can justify rental rates that are somewhat higher from what\u2019s usual. When adding a patio, make sure to locate it in a secluded part of your yard so tenants can have the privacy they need. Don\u2019t forget to also pick outdoor furniture that matches the patio\u2019s design. You can choose from different materials such as rattan, plastic, metal, wood, and many more, depending on your budget and preferences.<\/span><\/p>\n

Conclusion<\/b><\/h2>\n

Knowing how to increase your properties\u2019 rental rates is all about making sure you\u2019re providing a good service to your tenants. Invest in <\/span>making your rental property valuable<\/span><\/a> by accomplishing some repairs and renovations, doing some landscaping, repainting, and adding home security features, as well as a patio. Aside from these, make sure that you show your tenants that you\u2019re not just in it for the money, and that you value their friendship and are concerned for their well-being.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Many people want to know how to increase their properties\u2019 rental rates as most are usually frustrated with the low rental rates that they\u2019re seeing, and are wondering what they can do to raise them … <\/p>\n

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