Atlanta Property Managers Tips on
5 Property Upgrades That Will Increase Monthly Rental Income
When you invest in smart upgrades for your Atlanta rental property, you’ll be able to command a higher rental rate and hopefully a higher level when it comes to tenant quality. The question isn’t whether or not to upgrade, but what to upgrade. Here are Atlanta Professional property management advice on the five most popular and cost effective upgrades you can make.
1. Appliances
Appliances are relatively cheap in terms of remodeling and upgrades. You want them to match in your rental property and be fully functional. They don’t have to be top of the line but they should be new and in great condition. The tenants want high quality equipment to work with, and when you upgrade your appliances, you won’t have to worry about them breaking. Pretty often you can buy new appliances from such stores as Lowes and Home Depot at a huge discount. Go to the back of the store where the clearance items are and you'll be surprised at the prices you see there. For example, we just bought a new Frigidaire stainless steel refrigerator for $350, a 26cu! Now, this was a black Friday clearance deal, but you would have paid $500 for it on a regular sale. Still not a bad deal.
2. Kitchen
The kitchen is considered one of the showcases of a home, and it should be equipped well and have nice surfaces. If you don’t have high end counter tops, consider replacing them. You can try butcher block, granite or some other surface that offers a more modern look. Counter tops need to look clean and inviting. Your cabinets also need attention. If your cabinets are dated, replace the doors and hardware to give them a nice look without a high cost. If the cabinets are in good shape, maybe just paint them to give them a more modern feel. I don't mean contemporary design style, I mean more up to date.
3. Flooring
The flooring should be clean and intact in your rental property. You don’t want to invest in high end wood floors that will get scratched and worn. But you also don’t want cheap flooring that peels up and exposes concrete. Replace linoleum with tile to provide a clean appearance and to advertise as pet friendly. The cost is worth the aesthetic value and the extra rent you can charge with tile flooring.
4. Landscaping
Ensure your front lawn is in good shape with nice, attractive shrubs and trees. It has to look inviting to your tenants. Curb appeal is important, so make sure the yard is in good shape and has pleasant greenery.
5. Exterior
Invest in good siding because it improves the exterior appearance of any house. It also cuts down on maintenance because you don’t have to paint every few years. If there’s trim, make sure it’s painted. You don’t want to have any evidence of neglect on the exterior. This is the first thing a tenant will see and if the outside isn’t in good order, the tenant will assume the inside is just as messy.
Regardless of what you choose to upgrade, make sure you’re upgrading something in your rental property. Without updated flooring or exterior details, you won’t get a higher rental rate or attract the best tenants. Keeping the property neat and well maintained will help you get people who respect the look and the property. Take your time and update when you can, especially between tenants.
Contact us at ALH Podland Realty and Rental Homes Property Management if you have any questions or need help upgrading your Atlanta rental property.
Marina Shlomov, a managing principle at ALH|Podland Realty & Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her Atlanta professional property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.
