Higher Rent with Property Improvements
If you’re the owner of a rental property, you want to get the most out of your property, or at least get the highest return on the money you invest. The good news is that this isn’t hard to do. If you were to consult Wright Property Management Group, LLC here are some of the things we might suggest:
Add Value with New Paint
A new coat of neutral colored paint on the interior or exterior of a Wright Property Management Group, LLC rental property can really make a difference in how a property looks and how long it takes to rent. This doesn’t have to be an expensive project. Look for paint that is on sale and do the work yourself. With not much money and a little work you can add value to your property that will save you time and make you money.
Kitchen Improvements Can Make You Money
Ask any property management company in Anne Arundel County and they will all tell you the same thing. Upgrading your rental property’s kitchen is one of the first places you should start. This room is usually the most important one to the future tenant and probably the first room they’ll ask to see. People spend a lot of time in the kitchen, so they want to make sure it’s as nice as possible. Upgrading to stainless steel appliances and quality countertops will net you more money each month and increase the value of your property. On average, we’re able to charge $100 more for a rental with stainless appliance than one without!
Add Energy-Efficient Windows
Maryland can be cold. New windows will add to a property’s value, regardless of what type the windows may be. If you add double- or triple-paned windows to your property, you will see a definite increase in value. This upgrade increase the property vaule of your property and bring the tenant long-term savings through a reduction in energy usage.
Install a Washer and Dryer
A washer and dryer can increase interest in a property and help it rent faster. If washer and dryer hookups are already installed in your property then this can be a cheap improvement, considering the increase in income it can achieve.
Whatever you choose to do, remember that maintenance is key to making sure your tenants are happy. Many property owners have other jobs to do and simply can’t spend the time to take care of their properties as they should. If this sounds like you, consider hiring a property management company such as Wright Property Management Group, LLC.
About Wright Property Managemenet Group, LLC
Our business is to provide our clients with management solutions that help their residential single family, multifamily, townhouses, condos and apartments operate smoothly, increase in desirability and enhance investment value. That's why property owners and investors who reside locally, nationally and internationally depend on Wright Property Management Group, LLC to help achieve their property performance and profitability goals. From Tenant Placement Service to Full Property Management we ensure that our client's investment is well managed to attract and retain tenants.
We proudly serve all of Maryland including: Annapolis, West Annapolis, Historic Annapolis, Eastport, Annapolis Roads, Bay ridge, Hillsmere, Thomas Point, Arundel On The Bay, Wardour, Crofton, Homewood, Murray Hill, Bestgate, Severna Park, Easton, Centerville, Laurel, Bowie, Admiral Heights, St. Margarets, Camebridge, Cape Saint Claire, Arnold, Preston, Cownsville, Sherwood Forest, The Downs, Epping Forest, Chestertown, Riva, Edgewater and more...