5 Easy Ways to Add Value to Your Californian Rental Property without Going Bankrupt

iStock_000011739530_Small“All I have to do is to let a few close friends know that I’m planning on renting my Californian home, and the right buyers will come knocking on my door in no time.” Does this statement sound familiar to you? Unfortunately, this is a popular misconception shared by more than a few homeowners who want to turn themselves into successful landlords. The truth is that this is not how it goes. Unless your house is brand-new or in mint condition, you will have to invest a certain amount of time, money and energy in home improvement projects. Here are a few starting points that you may want to consider when it comes to implementing changes that add real value to your Californian rental property.

  1. Increase the Curb Appeal of Your Property. Before checking out your indoor space, your potential tenants will inevitably inspect your outdoor area. Walls displaying a chipped coat of paint, shrubs that have grown out of control and an old, unappealing front door that looks like it’s about to fall on your guests don’t exactly do you any favors. Try to address the faults that impact the functionality and aesthetic value of your property. You can enhance the curb appeal of your rental by installing a new mailbox, adding a few strategically placed potted plants and/or working on a more ambitious project revolving around a new porch/walkways or driveways.
  2. Depersonalize Your House or Apartment. Only a few homeowners realize just how important it really is to depersonalize their properties before putting them on the market. Think about it this way: would you be willing to rent or buy a property that has nothing in common with your taste and personal preferences? Would you be able to appreciate an indoor space in an objective manner and consider it your home, as long as it reminds you of its previous owners? You get the point: clean and remove personal belongings and decorative items; turn your home into a neutral environment allowing potential buyers to assess the level of compatibility between themselves and the property that you wish to put at their disposal.
  3. Stage Your Property. We will let you in on a little secret: more than a few people who wish to rent or buy a new place lack imagination. This is precisely why you should make it easier for all candidates to visualize the potential changes that they could make to feel at home in your Californian house or apartment. Therefore, start by cleaning and de-cluttering your kitchens, bathrooms and bedrooms. Let your guests be stunned by the spaciousness of your rental and allow them to picture the potential improvement that could trigger their complete satisfaction. Proper furniture placement is one of the most important elements that could help you stage your property in an ideal manner.
  4. Add Clever Architectural Details. Assuming that you can actually afford to go the extra mile to increase the value of your Californian property and make it more desirable, what are the main steps that you should take to accomplish this mission? You can start by adding a series of high-value architectural details that will certainly be appreciated by a large category of potential tenants. In this case, we are referring to additions that serve both aesthetic and practical purposes. For example, you can give some much-needed pizzazz to an old, boring room by adding tasteful ceiling moldings to its current décor. Instead of directing your attention towards your bedrooms, start by remodeling your bathrooms and kitchen, as these indoor spaces are the ones that usually attract or deter most renters and buyers. These areas can become the most important deal-breakers, especially when they require ample, costly renovations. If you can afford to shed a few hundreds of dollars on a remodel project, don’t hesitate to change old sinks, countertops, cabinets, fixtures and flooring material. New, shiny stainless steel appliances could add a touch of glamour to your bathrooms and kitchens, which will definitely be appreciated by most tenants looking for a modern Californian house or apartment. In case you have the time and money required by more complex renovation work, consider upgrading the floor plan of your property, to modernize it and expand its functionality. For example, you could decide to take down a large wall separating your living room from your kitchen. You could also add a small bathroom to your master bedroom, in an attempt to create a luxurious and practical suite. The possibilities are endless; you just have to make sure that your new floor plan is compatible with the desires and expectations of a larger category of prospects.
  5. Learn How to Market Your Property the Easy Way. At the end of the day, the steps that you take to market your Californian rental are just as important as the new coats of paint that you apply on your walls, the bright wallpaper that you use to decorate all rooms and the new expensive furniture that you’re planning on ordering. As a matter of fact, in the absence of a good marketing strategy, all these improvements could pass unnoticed, as you fail to fill your vacancies. Does this mean that you should direct a considerable amount of money towards online and offline channels designed to promote your rental? Not exactly! You can limit your expenses and still get excellent results by collaborating with Apartment Hunterz. California’s most respectable apartment finding service lends a helping hand to landlords and property managers, by allowing them to put and keep their slices of real estate into the spotlight. Using this service, landlords can list their properties, accentuate the best features of their Californian rentals, post photos and video tours and get in touch with potential tenants online. Scheduling meetings with the most reliable candidates who are looking for a nice California-based house or apartment has never been easier. Give this service a try, create your own landlord account and discover the simplest method to attract tenants with just a few clicks.
Mar 2015