Are you planning on updating your Monterey or Salinas area investment property in 2020? If so, you’ve come to the right place!
This article will share with you several tips for improvements that you should consider making to your investment property this year.
Tip #1 – Stick with Durable Improvement Vs. Stylish Improvements
Even though you may like your investment property, one of the most important things that you want to do as an owner is a stick with making durable improvements to your property rather than making improvements based on style.
Every year, many owners make the mistake of choosing stylish improvements for their rental property like investing in wood paneling, granite counter tops, or other high-value improvements rather than sticking with investing in durable materials which will last for years to come.
Tip #2 – Consider Adding High Tech Updates
Besides updating the flooring, cabinets and other areas of your investment property, you should also consider making hi-Tech updates as well like adding a nest thermostat, doorbell camera, USB outlets in each room, and smart appliances.
Adding hi-tech updates to your rental property will make it more desirable for people who want to live in a rental property where they have the control in important components of the home from the comfort of their smartphone.
Tip #3 – Add More Revenue Streams to Your Rental
Once you’ve successfully updated your investment property, you should also think about additional ways that you can get more ROI from your investment property. Some of the ways that you can generate more revenue include offering your tenants Wi-Fi, coin-operated washers and dryers, and additional services such as laundry, cleaning, or landscape maintenance so that they don’t have to do any additional work around the property themselves.
Contact 36 North Property Management
To learn more about the improvements that you should consider making to your investment property, or to speak with us regarding our Property Management Services, contact us today by calling (831) 484-4604 or click here to connect with us online.