There are a variety of perks that go along with being a landlord, such as the chance to build a guaranteed income as your own boss, the ability to take advantage of various tax deductions, and the opportunity to expand your investment portfolio. Getting your rental home ready for new tenants is your chance to make some updates that will give your property some extra protection and help you save some money long term – here are three effective update options to consider:
The Garage Door
The garage is an important space as it's typically used at least twice daily when leaving and returning home in a vehicle. Even if the garage is not used for a car, chances are that your tenants will want regular access to the space for storage, hobbies, or other similar reasons. Because of this, it's important to have the garage door inspected and repaired before putting your rental home on the market.
A poorly performing garage door can get create havoc inside if it does not close properly, if the springs are rusted, or if cracks and holes are found within its base or frame – any of these things can lead to interior mold damage and therefore the need for extra cleaning and repairs between tenants.
To protect your home from unneeded damage and to ensure comfort, convenience, and safety for your tenants, it's a good idea to have the home's garage door inspected and repaired before putting it on the market for rent. In addition to an overall inspection and having specific problems addressed, ask your service provider to:
- Completely replace the door's springs
- Tighten up all the hardware
- Inspect and replace the rollers if necessary
- Replace the weatherstripping
- Lubricate all moving parts
It's also important to make sure that the remote garage door opener can detect objects under the tract so it won't accidentally close on children, animals, and objects like bikes that might get in the way. If it doesn't, consider having a technician, such as those at Crawford Door Company, install an updated model that does.
Appliances are one of the most important aspects of a rental place to most tenants, so if your rental home includes them, you'll want to make sure that they are in optimal working order and have an updated and modern look. Don't worry about buying new appliances to impress potential tenants – you can wow them simply by having the current appliances repaired and tuned up and then giving them a new coat of epoxy appliance paint for a brand new look and feel.
If appliances are missing in the kitchen, consider buying them used at garage sales or thrift stores and then updating them yourself. Including used yet reliable and appealing appliances in your rental offers extra comfort and convenience without costing you an arm and a leg and may even provide you with an opportunity to command a higher monthly rental rate depending on your neighborhood's specific market.
Household Doors and Windows
By sealing your rental home's windows and doors you'll increase its insulation capabilities and save your tenants some money on their monthly utility costs. A home that is well sealed optimizes humidity control and makes it easy to maintain comfortable temperatures indoors. This results in less use of the HVAC system throughout the year as well as minimal maintenance and repair costs for you as time goes on.
Sealing the windows and doors in the home will also decrease outdoor noise pollution and keep things like dust and pollen from getting inside. To seal the windows and doors, carefully apply caulking or spray foam insulation along the frames and let them dry for a few hours before using them again.
These update ideas will ensure comfort, safety, and convenience, helping to make your rental home stand out from the crowd and more attractive to potential tenants so you can get it rented out quickly.