Top 5 Ways to Improve Your Property
5 ways to improve your property and its long term value:
1. Smooth out ceilings – Take a look at your ceiling. Almost nothing dates a house more than popcorn ceilings. Before you dive in, it’s important to have your ceiling tested for asbestos by a professional. Once you’re in the clear, scraping your ceilings is relatively simple. Head to your local hardware store for the right tools and advice on the best techniques.
Curious about the health risks of asbestos? Check out this article: https://www.webmd.com/lung/asbestos-exposure#1
LA area asbestos testing companies: https://www.homeadvisor.com/tloc/Los-Angeles-CA/Asbestos-Testing/
2. Install AC – “Central air conditioning adds about 12 percent to the value of a home on average throughout the country” according to the National Association of Realtors. You’ll first want to consider what type of A/C unit is best for your house. Think about factors like size of home, energy efficiency, and estimated annual cost of operations. We recommend seeking out evaluations from a few reputable contractors and then deciding which set up will be the best investment for your circumstances.
Check out this 2017 A/C cost evaluation article:
3. Upgrade to hardwood floors – The National Association of Realtors found that “the majority of home buyers (or renters) were willing to pay more for a home with hardwood flooring, especially among buyers under the age of 55”. Most love the durability, versatility and overall cleanliness of hardwood floors. With many different hardwood options on the market, do your research and find the best option for your budget.
Check out this hardwood flooring type and cost breakdown:
4. Allow pets – A large percentage of U.S. households have pets and only about half of landlords allow for them. As a landlord, allowing pets will increase the number of tenants interested in your property. You can also charge a higher rent, a pet deposit or a pet fee. If you decide to go this route, screening tenants becomes even more important. Some screening criteria to consider: size restriction, number of pets, breed restriction and pet temperament inquiry.
Article breaking down the pros and cons to allowing pets in your rental property: https://www.rentalutions.com/education/articles/should-you-allow-pets-in-your-rental-property
5. Provide storage – Storage can be one of the top priorities for renters! A few easy hacks as a landlord include: installing closet organizational options (think stackable drawers, hanging shoes racks) or adding additional shelving in a pantry. A few larger projects include: adding new organizational options in the garage (bike racks, winter gear storage etc.) or adding a shed to your property.