Before you put your San Diego area rental property on the market, you may want to invest in a few renovations and remodeling projects. Doing so will not only help make your property more attractive to residents but will also help to increase the value of your property, which, in turn, will allow you to charge higher for the lease. The following are ten projects most San Diego property management companies will recommend in order to help increase your property's value:
1. Perform repairs
While this may seem like an obvious project, many property owners will ignore repairs they deem to be less important. Even small repairs, such as loose bricks in your walkway, should be tended to since any flaws in the home will be noticed by potential residents. Some of the areas to focus on when it comes to repairs include:
- The roof - All roof issues should be dealt with to prevent leaks and further damage. A small problem can easily grow into a big one which could require costly repairs or replacement further on.
- Windows and doors - Make sure all of the windows and doors can be opened and closed easily and safely. You should also ensure they aren't leaking.
- Rails - A loose rail leading to your front door or alongside your stairway can be a safety hazard.
- Plumbing - Any plumbing issues, such as faucet leaks, should be dealt with.
2. Add new coats of paint
If the color of your home, whether it's the interior or the exterior, is beginning to fade or chip away, it's time for a new paint job. Painting the exterior of your home can go a long way toward boosting the property's curb appeal. Using indoor paint strategically also works wonders; for example, lighter colors will make smaller rooms feel bigger while darker colors will make bigger rooms feel more intimate.
3. Upgrade the kitchen
One of the first things potential residents look at is the kitchen. An outdated kitchen will have a negative impact on people's impression of your home, whereas an upgraded kitchen will be a huge selling point. The following are a few things to consider upgrading:
- Kitchen cabinets - You may want to reface or replace older kitchen cabinets.
- Kitchen hardware - An easy and affordable way to update the visual aesthetic of a kitchen is by upgrading the hardware on your drawers and cabinets.
- Light fixtures - Installing pendant lights over your island or LED strips under your cabinets helps add attractive task lighting which makes the kitchen more functional.
- Countertops - If your kitchen has older, damaged countertops, consider replacing them with something more durable and stylish, like granite.
4. Upgrade the bathrooms
Bathrooms are second in importance to the kitchen. A bathroom should be functional as well as comfortable. To make a smaller bathroom feel less cramped, consider replacing your large cabinet sink with a pedestal sink, and consider replacing your bathtub with a walk-in shower. Other upgrades to consider include the lighting and bathroom fixtures, from the faucets to the toilet.
5. Upgrade your flooring
If the property's flooring is beginning to show wear and tear due to age and use, replace it with new flooring. Hardwood tends to have a timeless quality and is both beautiful and durable, making it a great option in most parts of the home.
6. Upgrade your appliances
New appliances, including refrigerators, ovens, etc., are a huge draw for potential residents. This is because they tend to have useful, technologically advanced features while being more energy efficient, which helps to lower the energy bills of your residents.
7. Add amenities
One way to add value to your property is by investing in more amenities. These are extra features which aren't typically included in average rental properties, such as dishwashers, washers, and dryers.
8. Improve your landscape
Potential residents are more likely to schedule a visit if the landscape is attractive. This means putting some effort into trimming the bushes and trees and keeping the yard clean. You may also want to invest in some landscape lighting, such as pathway lights, and other features, like a small garden or a small patio.
9. Spruce up the entrance
The entrance is vital to creating a positive first impression, so consider upgrading the front door if it's showing its age. You may even want to flank the door with a few new light fixtures.
10. Invest in security
By building a fence around your property or installing a security system (or both!), you'll make the home safer, which makes it more attractive to residents.
For more advice concerning your rental property, or if you're interested in finding out how you would benefit from obtaining a dedicated, full-service San Diego property management company contact us at Property Advantage today.