Fresno population is growing and investing in real estate here is a booming business. However, it is important for investors to work closely with property management Fresno companies if they want to maximize returns from their investments. Other than helping you to take care of your investment, property managers understand the demands and expectations of tenants and can therefore help you with ideas when renovating your rental home to make it more attractive to potential tenants.
Remember that Fresno property management work with tenants all the time and they can help you as an investor with useful renovation ideas that could add value to your property and make it more attractive to potential tenants. They can also give you tips on how to expand your rental space so that you can maximize on rental income. Here are some of the key things that you should consider working on when renovating your rental home in Fresno.
Add additional income Suite in your rental home
Some rental homes are situated in a big and spacious compound that can be used to build an additional income suite within the property. Remember when you decide to rent out your home, chances are very high that tenants may not need a big space like you. It could be profitable if you had additional structures and let out so that they can earn you more income. For instance, you can renovate the basement of your home or the parking and garage so that you can rent it out separately. You can also divide big rooms in your house so that you can rent them out separately if the tenants you are targeting cannot afford renting the whole house.
2. Improve the shape of your kitchen
I am sure you have heard some people say that Kitchen is the heart of every home. This is very true because the majorities of renters are very categorical about the condition of a kitchen of the house they are renting. Some tenants are very concerned about the kitchen to an extent that they are ready to compromise other things as long as the kitchen is appealing and meet their expectations. You can improve your kitchen by adding some new appliances and adding modern cabinetry and under cabinet lighting among others.
3. Replace the flooring
It is very important to replace the flooring of your rental home before advertising it to potential tenants if you want it to attract more renters and fetch you more rental income. This is because tenants are very concerned about the flooring of the house they are renting. You can install some hardwood floors and quality tiles in your rental home as a way of adding some value to it. This will not only make your home attractive to possible tenants, but it will also make your home gain value.
4. Replace the fittings and fixtures in your rental home
If you do not know, tenants are attracted to rental properties that are fitted with new and attractive fittings and fixtures. For instance, if your rental home has old fixtures, it is important to consider adding some new cabinetry, light fixtures, faucets and counter tops in your home among others. Tenants are more attracted to what is appealing to their eyes before they even consider other factors such as safety and convenience. However, you need to work closely with a local Fresno property manager so that he/she can advise you on important fittings and fixtures you should add to make your rental home more attractive to potential tenants.