Simple renovations are all it takes for successfully raising the rents in your all property management St Pete FL business. The better a property is maintained, happier your tenants will be. Here are a few tips of increasing the cash flow while working on the existing assets. Start by knowing which renovations will increase the value of the rents. The best way of doing this is asking the tenants what their needs are. In some cases, tenants may even be willing to pay for them, such as for installing air conditioning etc. In such a case, the landlords must not be short sighted; rather they must allow the initial overlay since the long term financial gains are bound to be significant. Simple renovations like washing and repainting of walls, preferably with neutral colors are excellent as they allow tenants to easily bring their existing furniture without feeling that they are competing with the place. New blinds, curtains and window treatments are some other additions that go a long way in impressing potential tenants and pleasing the existing ones. Most new tenants note these things when they come for an open house walk through when searching for their rental homes. Finally, two door mirrored built-in wardrobes are other great additions to rental properties as they reduce the need for tenants to install or bring in their own. These are a few additions and renovations to consider when raising the rental income.
