At North San Diego Property Management, we manage multifamily and commercial properties in the North County area, including in Oceanside, Carlsbad, Vista, San Marcos, and Solana Beach. Our experience in preparing rental properties for the market has resulted in lower vacancy times and better tenant placement. Today, we’re discussing the updates and improvements you can make to help you earn more rent and attract high quality tenants.
Improving your Rental Property
Instead of investing a chunk of money in renovating the entire kitchen or adding on another bedroom, make some smaller repairs that cost less but have a huge impact. These include fresh paint, which makes a property look brand new, and updated lighting. New light fixtures can make a major difference, and so can small changes like new hardware on the cabinets or faucets.
Instead of cleaning the carpet between tenants, put in new carpet or consider hard flooring that’s easier to maintain and has a longer life. Take a look at the tile in your bathrooms and your kitchens. Replacing it might give the home a fresh, modern look. If your rental property appliances are looking old and worn, replace them. Stainless steel isn’t always necessary in every market, but if competing properties have those appliances, consider making the investment.
Measuring Cost against Value
These minor improvements are worth your time and money. You’re not going to attract the best tenants in San Diego with kitchen appliances from the 1970s or carpet that hasn’t been changed in 10 years. Think about the cosmetic changes you make when you’re preparing to sell a property. You do those things to sell the property quickly and to attract potential buyers. It’s the same principle with your rental property. You want it to be ready for the rental market and appealing to good tenants.
When to Make Repairs and Renovations
These updates should be made while you’re getting your property rent-ready. Ideally, you’ll make the improvements during turnover periods, when one tenant has moved out and you’re preparing to move another tenant in. If you do this work on the property before you list it, you’ll benefit during the showings, and a larger number of tenants will be interested in the property.
We help owners and investors update their homes all the time. If you would like some recommendations from our qualified team, please contact us at North San Diego Property Management. We’d be happy to tell you more.