A critical component of keeping your Fort Worth rental property profitable in the long term is performing regular updates. Mainly if your rental house is older, you can and should be getting things done to modernize your rental each year to ensure that you can maximize your rental rate. The good news is that there are several minimal updates you can do to make it look and feel more modern without paying a huge amount of cash. In other words, simply upgrading your outlets, light fixtures, and locks can help increase your property’s value, enhance the charm and ensure that you are keeping pace with other rentals in your market. In this section, we’ll talk about why these three upgrades are essential for all rental property owners.
Outlets
One thing that can make a property look and feel shabby and old is yellowed or outdated electrical outlets. Cracked or mismatched electrical plates are an eyesore, but the outlets themselves can also become a major turnoff for potential tenants. This is particularly true now that so many people rely on multiple electronic devices, like smartphones and computers, to handle day-to-day life. Simply replacing some of your old outlets with new versions that include USB ports can make a huge difference for your renters. What is more, replacing your outlets is normally a fast and simple job that you or an electrician could do in a short amount of time.
Lighting
Lighting is another critical point to keep on your upgrade list. Similar to electrical outlets, substandard, malfunctioning, or outdated light fixtures can detract from an otherwise clean and tidy interior. Modernizing your light fixtures or replacing older style light bulbs with LED bulbs can make a significant difference. Modern light fixtures will make your interiors brighter and seem modern and tidy. Moreover, it’s often possible to find new light fixtures for a reasonable price, and replacing them is another small job you or your electrician can easily handle. In fact, with the right lights and a little effort, you could give your rental’s kitchen or other rooms a lot more custom feel your tenants will appreciate.
Smart Locks
Lastly, a final smart upgrade requiring some budget is to replace your standard deadbolt or other door locks with a smart lock system. A smart lock is just what it seems like: a Wi-Fi or Bluetooth-enabled door lock that you can control from a smartphone or other device. Smart locks are a perfect option 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 hassle of a key, but many smart locks will also let them see data about who is going in and out of the property and when. Smart locks are also perfect for property owners because you can set temporary access codes and then change them when needed, like if a handyman needed access to the property to conduct some repairs or between tenants. Plus, you’ll never need to stress over your tenants keeping extra copies of their keys when they move out.
Would you want to know more low-budget ways to upgrade your rental property and increase your rental income? Give Real Property Management 360 a call! Our local Fort Worth 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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