Rent roll forms the backbone of real estate investment for all types of properties, including multi-family real estate. It’s a document that illustrates a landlords’ properties with the rents due from them. Whether you’re a property manager or owner, your aim should be to boost your rent roll. This guide will suggest some essential property upgrades to achieve that critical goal.
1. Enhance the Curb Appeal
In many cases, the outside view of a property will already have made its impact before a potential tenant enters the unit to explore it. The curb appeal is therefore a great place to start to make that strong first impression. For example, painting or replacing the doors should provide a noticeable upgraded look to the property. Installing bricks or pavers or pouring new concrete is a great way to achieve a refined look. For a greater impact, paint the entire exterior and add clean landscaping.
2. Renovate the Bathroom
The condition of the bathroom strongly influences a tenant’s decision these days, which means that you can no longer ignore this portion of your rental property. By renovating, we don’t necessarily mean implementing an entire makeover. It can be as simple as updating the cabinet hardware and faucet, adding a new shower head, or replacing the toilet seat.
Extra functional bathroom spaces such as storage are hard to find. Even if you’re working with a small bathroom, don’t overlook storage. Shelves don’t consume too much room, making it a great idea to add it.