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Tips to Improve the Rental Value of Your Property

Posted by Balaji on December 2, 2020
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As a homeowner, when renting out your house, you would like to get good returns. Well, improving the rental value of your house calls for certain effective strategies. First of all, the homeowners should be aware of the present Bangalore Property Prices. Here are ten simple tips that will help you increase your property’s rental value.

Location

In case you are yet to buy a house, make sure that you pick a prime location for the house or apartment. It should have easy access to offices, shopping malls, airports, IT complexes, metro stations, commercial areas, and other important places. The prices of property in these areas are expected to increase in the coming years.

Amenities

When you buy a home, keep an eye on the amenities in the complex. People who rent houses are on the search for luxury, and these facilities will help you increase the property’s value. The facilities include a swimming pool, a gym, a jogging track, a tennis court, etc.

Storage space

The demand for furnished apartments and houses is on the rise. Besides, people look out for homes with enough storage space. You can look at India’s housing sites or contact good real estate experts and select a property that has sufficient storage space and is completely furnished for the tenants.

Appliances

Tenants often seek homes/apartments that come with all the necessary appliances. In case you have everything in order, the value of the house gets a boost. For an apartment that is filled with all the necessary home appliances, you can charge a higher rent.

 First impression

Make sure to create a positive first impression for the tenants when you rent off your property. It should be properly cleaned and made presentable, prior to the visit of the tenant. Complete the home repair works, if any, and prepare the apartment for rental.

Go for conventional renting methods

You can try out alternate rental approaches, which are now available through various third-party companies and home rental apps. While this may not ensure occupancy all the time, you may charge a little higher rent.

Collaborate with corporates

A significant number of companies are entering into deals with landlords. You can go for these types of agreements, contact the local agents dealing with real estate, which can help you find these deals. This will enable you to keep the house well-maintained and earn good rents.

Photography

The owners of the property must make sure that the photographs of the property are clear and attractive. Images help to draw clients most of the time. A walk-through video of the property can also be made.  However, make sure what you show is realistic.

Maintenance

Well, your house should be well-maintained, so be sure to get all the issues fixed. The pipes should not leak, the kitchen cabinets should be in the proper shape, and before the tenant sees the house, the cracks should be fixed.

Proactive listing

Be proactive in listing your property. This will allow you to get a tenant in a very short time. To get a detailed idea about this aspect, you can visit the leading real estate websites.

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