Make the Most of Any Rental Unit: Property Upgrades and Maintenance

The key to maintaining a profitable rental unit can often time come down to maintaining and upgrading wisely. While some in-unit changes likely aren’t worth the money, many are. Often times, investing more initially will pay off over the long run. Here is a list of recommended changes and best practices that won’t break the bank over the long run. These changes will allow any landlord to keep the rent high and ensure less tenant turnover.

Focus on curb appeal.

  • Changes include landscaping, power washing, and repainting the exterior. This can be particularly helpful when it comes time to place a new tenant in your unit.

Upgrade the appliances.

  • This is a purchase that should be viewed as an investment, as band-aiding problems can be expensive long-term, cause tenant dissatisfaction and become a headache for you, the property owner.

1Add backsplashes in the kitchen.

  • This is a cheap addition that will light up any kitchen and provide a quality feel to the room.

Wash carpets instead of always replacing.

  • A professional carpet cleaner can make even the dingiest of carpets appear brand new. Give this a show before choosing to replace immediately.

Invest in high-quality fixtures.

  • Not only will this provide your tenant with a more polished look, the investment will pay off in the long run as less maintenance/replacement will be required. Band-aiding issues will most likely become more expensive in the long run.

Install new shutters or curtains.

  • Old shutters and curtains can make even the nicest of units appear worn and dated. Consider newer, more modern options to get the most out of your unit.

Keep it clean!

  • Perhaps the most important item on any landlord’s list is often the most overlooked. Always thoroughly clean between tenants to ensure your unit does not wear prematurely. It is recommended that a professional deep clean be done between each tenant.
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Tips & Tricks to avoid Rental Scams

1Rental scams are at a fever pitch right now, and protecting yourself and your money while apartment hunting should be your number 1 priority.

In most cases, using common sense will help you stay out of trouble (we’ve all heard of the Nigerian Prince who will wire you a Million dollars as long as you cover the transaction fee) but even a street smart consumer can be fooled by a believable scam. Here are some tip & tricks to avoiding being duped.

1. If it looks too good to be true, it usually is…

1That newly renovated townhouse with all new stainless steel appliances, a small outdoor patio complete with a finished garden, and large three car garage that just happens to be in the heart of the city, and is going for a fraction of average rental? Yeah, thats too good to be true. Business Insider’s tip #6 is great advice – “Trust your intuition.” If the apartment of your dreams is at a price you didn’t even think possible, it is most likely a scam.

2. Never, under any circumstance, wire money to someone you have never met.

1Boston.com details the nightmare situation of finding out you have been duped online. If a landlord “had an emergency come up” or is “out of state working another property” do not wire them money to secure the apartment! Wait until they they are back (if they are actually coming back) and see the listing then. In the meantime, start your search up again. I can guarantee you, starting your apartment search over again is much less of a headache then wiring a few thousand dollars you will never get back!

3. See the listing in person!

1This is easily the best advice you can take to ensure you are not getting duped online. Schedule a showing, tour the apartment, and then you can start the process of actually applying for the apartment. If you physically cannot be present for the showing, make sure someone you trust is. Touring the apartment is your best way to ensure you are not getting scammed. Not to mention, actually seeing the apartment you will be renting for at least a year is a great idea.

The underlying theme in these tips? Common sense. Do not get yourself into trouble by rushing the apartment rental process. Take your time, do you your homework, and actually see the apartment in person.