A well maintained rental property can ensure a happy tenant and also help you boost the rental income. That is the crux of Lakeland property management.
The trick is to not view remodeling and renovation projects as an expense, but as a means of increasing your assets, bringing in more tenants and earning higher rents. A lot of investors make the mistake of thinking that when the environment is one of 'low interest rates', then one needs to invest in more assets instead of spending money on the existing ones.
Additionally, there are cases, where in the tenants are also willing to bear the cost of, for example installing air conditioning units in the property. At such a time landlords should not be shortsighted and should allow the same. One needs to look at the long term picture. Failure to allow such renovations could keep existing tenants dissatisfied, and we all know how an unsatisfied tenant would not renew the lease.
Experts in the field have also seen that tenants are more willing to from one rental property to another instead of purchasing. Thus, it is evident that they are willing to spend money, time and efforts on moving than paying a little bit more stay in the same place. The reasons for these are clearly indicative of the fact that the existing circumstances are not satisfactory and maintenance issues are not being dealt with.
