The main factor of keeping your Round Rock rental property profitable in the long term is making regular updates. Primarily if your rental house is older, you can and should be performing actions to modernize your rental each year to safeguard that you can maximize your rental rate. The good news is that there are various minor updates you can perform to make it look and feel more modern without wasting a big amount of money. For instance, simply upgrading your outlets, light fixtures, and locks can help increase your property’s value, enhance the beauty and ensure that you are keeping pace with other rentals in your market. In the following, we’ll outline why these three upgrades are essential for all rental property owners.
One aspect that can make a property look and feel worn and old is yellowed or outdated electrical outlets. Missing or mismatched electrical plates are an eyesore, but the outlets themselves can also become a huge turnoff for potential tenants. This is especially true now that so many people rely on multiple electronic devices, including smartphones and computers, to manage day-to-day life. Simply replacing some of your old outlets with new versions that incorporate USB ports can make a big difference for your renters. And, changing your outlets is usually a quick and easy job that you or an electrician could do in a short amount of time.
Lighting is another main item to keep on your upgrade list. Much like with electrical outlets, second-rate, faulty, or outdated light fixtures may impede an otherwise clean and tidy interior. Modernizing your light fixtures or replacing older style light bulbs with LED bulbs can make a huge difference. New light fixtures will make your interiors brighter and seem modern and elegant. In addition, it’s typically easy to find new light fixtures for a reasonable price, and replacing them is another small job you or your electrician can easily handle. As a matter of fact, with the right lights and a little labor, you could give your rental’s kitchen or other rooms a more custom feel your tenants will embrace.
Lastly, a last smart upgrade with a little budget is to replace your standard deadbolt or other door locks with a smart lock system. A smart lock is just pretty self-explanatory: a Wi-Fi or Bluetooth-enabled door lock that you can control from a smartphone or other device. Smart locks are an ideal choice to upgrade your rental property’s security without going all out on a full security system.
Not only can your tenants lock and unlock their door without the need for a key, but most smart locks will also let them see data about who is going in and out of the property and when. Smart locks are also ideal for property owners for the reason that you can set temporary access codes and then change them when needed, say if a handyman needs access to the property to make some repairs or between tenants. Aside from that, you’ll never need to worry about your tenants keeping extra copies of their keys when they move out.
Would you like to find out more low-budget ways to upgrade your rental property and increase your rental income? Give Real Property Management All Connect a call! Our local Round Rock property management experts can help you maximize your cash flows while helping you grow your property’s value. Contact us online today!
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