Property investing can be a tricky business and it is all about balancing the numbers and making good choices on which properties are best to buy, and how to upgrade those properties to make the most of them. Property management services in Charleston have a lot of expertise when it comes to knowing what renters are looking for in single-family housing. We talk to tenants every single day who are asking for upgrades at renewal time and new prospects who expect only the best when living in Charleston. However, not every upgrade is worth it, and we will tell you what trends you can skip, as well as which are worth it.
Upgrades Worth Doing on Single-Family Rentals
There are many upgrades that will have tenants choosing to renew their leases without a second thought, and new tenants will appreciate. Some of these upgrades will even make it possible for you to charge more rent and make the property more competitive.
- Upgrading the bathroom
- Upgrading the Kitchen Appliances
- Brand new carpet installation
- Fresh paint
- New cabinets and fixtures
- A deck or patio
- Hardwood floors to replace linoleum or vinyl.
- Roof replacement
- Siding Replacement
Property management services in Charleston see many tenants falling in love with properties that are newly renovated. Brand new roofs are also a great selling point that help renters feel safe and secure in the home.
Upgrades You Can Skip on Single-Family Rentals
Some upgrades are very costly and might not be worth it in the end. These are the upgrades you can skip, especially if budgeting is a concern.
- Professional landscaping, especially if you are renting to families with kids or who may not be able to help with the upkeep.
- Smart Home features may seem cool, but they do not add much value to the rental price. There are many wireless electronics that can turn your home into a smart home that tenants can use without the hassle and take to their future homes as well. Let them handle the technology.
Property management services in Charleston can work with investors to help create upgrade plans that add value to the home and be a reason to increase the rent at lease renewal time or for new tenants.
If you are looking for professional property managers to help you make the most of your rental property investments, call Scott Properties at 843-790-4929.