Renting out a property is a great way to earn regular income, but in order to maximise your rental return, you need to make sure your property is in the best possible condition.
Here are 4 improvements that you should think about before renting out your property.
1. Improve the security
With crime so prevalent in South Africa, good security is a major selling point for potential tenants.
Add burglar bars and security gates to the property and consider installing a security system.
This will make the property more attractive to tenants and protect your investment during periods when the property is unoccupied.
2. Improve the outside area
Who doesn’t love having a great outside area? A well maintained garden is important, particularly if you’re planning on renting out your property to a family with kids.
Clean it up and cut the lawn to make it looks bigger, then tend the flowerbeds so that parents see it as somewhere there kids can play.
If the property has a pool, make sure it’s sparkly clean.
3. Upgrade the bathroom
A nice bathroom is always high up on the list of priorities when people are looking for a place to live. If your bathroom is old and tired, you should consider spending some cash and sprucing it up. You don’t need to go crazy and spend a fortune, keep it simple with a basic bathroom suite and neutral décor that will appeal to as many people as possible.
4. Fix the small problems
Every house has annoying little problems that most of us just ignore. That’s not something you can afford to do when you’re renting out a property though. Tenants won’t want to move into your property if there are lots of minor problems – it shows that you don’t care about the maintenance of your property.
It’s just a case of having a high attention to detail. Go over the whole house and highlight every problem that needs fixing and then put the problems right before you put the property on the market.
There’s a lot of hard work that goes into making your property fit for the demanding rental market. So, make some of these improvements if you want to find long-term success as a landlord.