5 Ways to Increase the Value of Your Rental Property
by Nina Tambal
Mar 04, 2020
Ask any landlord and they will tell you that increasing your property’s value is fundamental in the realm of real estate.
You have to take good care of your investment and make it worth more than when you bought it.
So, in what ways can this be made possible? Don’t fret for I am here to answer your earnest question.
Instead of giving you a list of more than 25 items on how to go on about this crucial event in your life, I’ve narrowed it down to five vital aspects to keep in mind.
1. Go smart
It is a known fact that we are in the digital age and it is here to stay.
You don’t have to install everything and anything involved in smart technology all at once. But you can start with a programmable thermostat, smart lights, or even a security system.
This gives a good impression to anyone who’s looking to rent your place, especially for millennials and possibly older Gen Zs. These are two generations that grew up with smartphones and love the convenience of doing some tasks in just a click or two.
2. Reduce noise
Noise is certainly something that can’t be avoided no matter where you live. More so if you’re staying in an apartment with several other people on the same floor.
You can try adding drywall to strengthen a wall’s capacity to block sound, but this can be a bit pricey. For a more cost-effective solution, cotton sound insulation is the way to go. It’s lightweight and can easily reduce all types of sounds.
3. Consider sustainability
Sustainability is in and it isn’t hard to see why. Through practices such as energy conservation, both tenants and landlords are able to benefit from having a less stressful and more efficient lifestyle.
Besides the space that residents will be paying for, they have the utility bills to worry about. So, having a more energy-efficient home increases the value of your property.
Getting LED lights is great, because it goes hand in hand with developing a smarter home as mentioned in item one. Double-paned windows are also nice add-ons.
4. Upgrade the existing to the max
Clean, clean, clean. Keeping a tidy apartment is key.
On top of that, a mini makeover wouldn’t be so bad either. Paint the walls a new color, add fixtures that will benefit future tenants, replace countertops that are looking a little shabby. The sky is the limit!
This is a time for you to showcase your condo in the best way possible. Just think that if you were a possible tenant, what would catch your eye and what would you appreciate?
From there, you can strategize on how to upgrade the feel and look of your home. It doesn’t have to be a grueling process at all. It can be as insightful and as fun as you’d like.
5. Consult with experts
Like they say, everyone needs help at one point in their lives. If not help, maybe a bit of guidance.
Getting an expert’s opinion will definitely put your mind and heart at ease, especially if they are someone who’s experienced in the real estate industry. Someone that is not hard to trust when it comes to property matters.
Soniala Architectural Consultancy Services, based in Rockwell, Makati, is certainly a company you can count on. They offer a wide range of services that guarantees an improvement to the property value of your apartment, from design consultancy and interior architecture to lease and facility management.
Whether you’re a novice or a veteran property owner, it’s important to remember that your investment needs a bit of TLC every now and then. Not just for the benefit of your business, but also for the enjoyment of those who will live in your condo for a certain period of time.
Ready to take the next big step on increasing the property value of your home? Reach out to the Soniala team with just one click or call. Rest assured that they will help you in every step of the way of your significant real estate journey!