We are talking about how to increase the value of Spokane rental properties and how you can increase the rent as well. Remember that humans are emotional creatures, not logical. Keeping that in mind will help you make sense of how toget more out of your property.
Always start with curb appeal. Make sure there aren’t any weeds growing up on the curb. If you have a nicely mowed lawn but a lot of weeds, people will get the impression that you’re not taking care of the property. You want a lawn that is green and attractive.
Keep up on maintenance and avoid deferred maintenance. You want your gutters to be cleaned out regularly and repaint the house when necessary. Make sure the windows are clean. Simple steps like these can help increase the value of your Spokane rental property.
The rental price is also important. You don’t want to charge more than the market. The property will sit on the market longer than the average property, and the vacancy time will cut into your profit and the amount you can collect over the years. Most of our smarter landlords know that pricing the home just under the market and keeping it occupied will really have an impact on the rent you collect.
Everything needs to be clean and updated. The paint should be touched up. People can overlook a lot of things, but they won’t overlook a property that isn’t clean. Check the corners of every room and open the drawers of the bathrooms and the kitchen. Pretend your kids were going to be crawling around on that carpet or that floor and eating off that counter. Women are often the decision makers when it comes to properties, and that means that the place needs to smell great and look clean. If you have any questions about how to increase the value of your Spokane rental property, please feel free to contact us at Madison Real Estate and Property Management.