As a Crestwood rental property owner, you’re always looking for ways to trim costs and improve ROI. And while most of the advice you read centers around your processes, it’s equally important to consider the property value itself. Over time, your investment and equity will continue to grow. However, there are a few property upgrades to consider adding to your to-do list, to see even more incremental value increases.
Today, we’ll offer simple suggestions that may make sense for your rental property. After all, it’s not about what you paid for your Crestwood rental. Instead, it’s about what you put into it to increase its overall actual and perceived value.
‘Tis the Season for Curb Appeal Upgrades
When you drive by your Crestwood rental property, do you feel invited? If you’re not sure, it’s time to make a few curb appeal upgrades. To improve the value of your property, look for those additions that go beyond a few pretty flowers in the front yard. Think privacy and add a backyard fence or row of shrubs along the property line. Think noise-canceling measures and introduce vining flowers along the road-facing fence line. Get creative with how you improve the look of your property to ensure you’re also increasing its value.
Hardware with a Soft Touch
You can transform the entire look of a master bath or a kitchen by simply swapping out the cabinet and fixture hardware. Look for sales on bulk orders of new knobs and handles. And adding these new fixtures into the spaces is something you can probably handle on your own with a screwdriver. You’ll be surprised just how different a room can look with modern hardware. And it’s the simple touch that can make a big impression.
Get Smart with Smart-Home Automation
Today’s renters look for certain amenities. And home automation technology is becoming a popular must-have rental feature. Smart home tech doesn’t have to be an all-inclusive install if you don’t have the budget for the big package. You can always start with a smart thermostat or a doorway camera. These upgrades are great even when you have vacancies, as well.
Any Large Project Is an Investment
Whether it’s time to replace the roof entirely or you want to knock out a few walls to create an open floor plan, any major renovation is an investment into your Crestwood rental property. Of course, these types of remodel projects can be more costly. But over time, you can save and prepare a budget to tackle at least one significant improvement every year. Tackling these projects in a planned timeline can keep you from having to engage in major sudden replacements.
Windows, Doors, and Awnings, Oh My!
If you have a designated budget set aside for property improvements, but maybe not a huge remodel-sized pile of funds, consider doors, windows, and awnings. Give your Crestwood property’s front porch an entirely new look with a new door that also offers better protection and reduces drafts. Consider taking advantage of those annoying window sales phone calls, offering seasonal deals. New windows translate to better energy efficiency and reduced utilities, too. And don’t forget the awnings. If your property has an awning over a doorway, give it a fresh scrub and coat of paint. Or replace it altogether with a more modern design that welcomes new potential tenants.
Improving your Crestwood rental property value doesn’t have to cost a fortune. Hopefully, these simple upgrades and suggestions can inspire you. But if you’re ready to hand these tasks over to a professional, contact us! Our professional team of experts can take all the guesswork out of property improvement efforts ongoing and make sure your Crestwood property continues to be valuable, both to potential renters and to your bottom line.