Friday, 22 November 2019

How To Increase Your Rental Income After Making These Improvements

Owning rental property can be a rewarding experience by helping people when they are not ready to buy their own home. And the smartest investments can produce significant income! There will come a point however, when your property needs improvement to stay competitive with the higher rental rates. Try these small improvements to increase the monthly rate on your rental property. 

Curb Appeal

Attract those potential renters by improving the outside appearance! Your best renters are the ones who care about the property’s appearance and what shape it’s in. If you purchased an older property or have owned for many years, the landscaping will benefit from a small overhaul.

The best thing about improving the landscaping is you can do so with a current tenant and there is no loss of income. Once you and your tenant agree on a convenient time for the least disturbance, rent one of our smaller bins to help with your debris. Include in your dumpster...old mulch, any dead or crowded bushes, and overgrown tree branches. 

After you clean up the yard and landscaping, look over the home for wood or siding that needs to be replaced. Oklahoma storms can damage these parts of the property. Also, a metal mailbox and guttering can sustain damage from hail. Add the dented mailbox and guttering to the same dumpster, maximizing your bin rental. 

On The Inside

Rental property owners know higher rents come from desirable properties that are in demand. Small updates can make properties as desirable as competing properties that are newer. 

One improvement should be updating the floor surfaces. Renters are wanting ease in care and function-friendly. The popular choices are wood or wood-like laminates and also tile. Carpet may be the cheaper expense upfront, but choosing a more durable flooring will not require replacement with every new tenant, making it an investment. Also, wood and tile floors are more present than ever in new builds and renters will pay more for this upgrade. 

When upgrading or replacing flooring, rent a roll-off dumpster to dispose of the old carpet and padding. If the baseboards are going to be replaced to match new floor’s height and style, add the old wood to the dumpster also. We have the perfect size bin to accommodate both the flooring and baseboards. 

Finally, if your property is up to date with required maintenance and repair, it is the perfect tine to invest in updating the items in the home that will ‘date’ its appearance. Replacing old cabinetry in the kitchen and bathrooms will improve the appearance of your rental. New cabinets, drawers, and flooring will refresh the entire home. Our larger bin will then be the perfect choice to handle disposal of all the old flooring, baseboards, and cabinets. 

Because these inside updates have to be done between renters, a dumpster will help the update go smoothly with the quickest disposal of old materials and packaging. The goal is to update as quickly as possible, moving the next tenants in and once again collecting rent. 

When you are ready to increase your rental rate by improving your property, Bin There Dump That will help you with your dumpster needs.