For property owners, making carefully calculated property renovations is one of the surest ways to increase your property value and monthly revenue. Of course, we all know the most obvious places to put our renovation dollars: the biggest returns on your investment are found in kitchen and bathroom remodels.
But where do you go from there?
For real estate investors, it’s important to remember that tenants aren’t like homeowners. They put value in different things because they aren’t usually planning a permanent stay. Your property isn’t their forever home.
They’re going to be less concerned with some things and more concerned with others because of that.
When it comes to renovations, if you’ve already taken care of the kitchen and the bathrooms, where else should you focus your attention? What’s going to help you attract and retain tenants? You might be surprised on how these often-overlooked details make an impact.