As a real estate investor and landlord, one of your primary concerns is always to ensure that you are earning as much value out of each property as possible. One obvious but still important way you can maximize the value of your Sacramento properties is to reinvest with strategic improvements. It goes without saying that not all improvements you make on the property will do the same for your bottom line so today your favorite Sacramento Property Manager is sharing the key improvements you should be focusing on.
First and foremost, you need to make it a priority to ensure to the very best of your ability that everything on the property is completely up to code and would pass a legal inspection. While some landlords try to cut corners and ignore certain building code requirements in hopes that it will save money, the truth is the fines and lawsuits that can arise from these attempts greatly outweigh the cost of making the necessary repairs. In other cases, newer landlords or landlords that have had their property for a long period of time do not realize that their units are not up to code and wind up in a whirlwind of trouble for it. Therefore, the very first investment that you should be making into your Sacramento property is to ensure that you are completely legally compliant.
It shouldn’t come as news that renters love nice bathrooms just as much as buyers. However, you don’t need to overdo it just to attract renters with healthy pockets. Instead swap out key plumbing fixtures like old or dingy vanities and faucets to give a more polished appearance. Even a simple upgrade to the mirror and lighting can do a world of good to highlight those new fixtures and get potential renters more excited about your unit.
When it comes to flooring, you want to keep longevity and wear and tear in mind. There have been fantastic new additions to hit the market in recent years including wood grain tile and laminate flooring. Both options are super easy to clean and maintain and are far more likely to last than say your average carpeting.
Outdoor Living Space
One of the main reasons that people choose to live in California is because they want to be able to take full advantage of the weather as much as they can. Providing some type of outdoor living space will really help to attract tenants moving from out of state or those that have made it a priority. You don’t have to go crazy but even staging a dining area or installing some patio furniture to help potential tenants envision themselves there will go a long way.
What Is Your Biggest Property Management Challenge?
Let’s face it, managing properties in Sacramento is one of those jobs that is often easier said than done. I understand that there are thousands of random questions and issues that come up about how to get the most value while maintaining a positive relationship with your tenants. What challenges are you facing in your property management journey as a landlord? Please comment below or reach out to me directly if you would like to learn more about how Alpha Property Management can turn those headaches into money in the bank for you.