Because you have decided to rent your home out as opposed to selling it, there are a variety of benefits to take advantage of as a landlord. In addition to having the opportunity to be your own boss, you can look forward to taking advantage of various tax deductions when it's time to file each year. And you get to hold on to your property as it appreciates in value which will come in handy if you decide to sell in the future. To optimize the rewards of being in the home rental business, consider making these home updates to better attract tenants as well as save some money on maintenance and repairs as time goes on:
Redo The Ceiling With Plaster Of Paris
A great way to dress your rental home up and give it a new look is to have the ceiling redone with Plaster of Paris. The plaster's texture will add some softness to each room in the home and produces low thermal conductivity for better temperature control indoors. It also happens to be fire retardant to keep your home protected to minimize the chance of facing a devastating fire in the future.
Plaster of Paris holds color well and can be molded for a customized design and professional look that is sure to set your rental home apart from the neighborhood competition and quickly attract potential tenants. Thanks to the plaster's impressive durability, the need for maintenance and repairs should be minimal throughout the years. Companies like Painting By Jerry Wind can help meet your needs for assistance with plastering.
Dress Up The Windows In Each Room
You can easily attract new tenants and protect your home from damage and the need for repairs by dressing each room's windows up a little. If possible, start by replacing the windows altogether with an Energy Star certified option. By doing this alone you'll reduce the home's energy costs and minimize drafts which will interest tenants, as well as protect the home's floors, walls, and carpets from harmful UV rays so don't have to repair or replace the interior often.
Consider giving your rental home an updated look and feel by replacing the current curtains or blinds with cellular shades. These shades provide impressive insulation performance and will help to protect your rental home from moisture and mold buildup. They come in a wide range of colors and textures, making a tailored look possible and they offer excellent light filtering options that your tenants are sure to fall in love with. Cellular shades are also easy to clean and maintain which means that they'll likely still be in good shape when tenants move out.
Incorporate Stamped Overlays In The Driveway
If potential renters don't like what they see when pulling up to the curb of your rental property, they'll likely have a poor pre-conceived opinion about the home before even stepping foot through the front door. In addition to making sure that the grass is cut and the bushes trimmed, you can make a significant positive impact on the home's curb appeal and attract tenants by incorporating decorative stamped overlays in your driveway.
Stamped overlays are less expensive than other options like natural stone and pavers, yet they provide the same sophisticated and classy look. Because stamped concrete overlays don't have joints, weeds can't grow between them which makes maintenance easy and helps cut down on the need for repairs. In fact, when properly installed, stamped overlays will stay in good shape for decades before needing a replacement.
Each of these updated options should pay for themselves within the first couple of years, yet should continue to attract new tenants and save you money on management costs for decades to come.