Monday, January 9, 2012

Small Investments = Big Returns


The independent owner/manager face special challenges when competing with new apartments. Listed below are five inexpensive ideas on how to add value to your property.

1. Staying Neutral: Most rental owners agree that neutral wall paint is the way to go when painting a rental property. Many believe that wallpaper is not necessary to cover the bathroom, and sticking with paint will help cut down maintenance costs.

2. Counter Proposal: Want to extend the life of your counter tops? Give each new resident a small wood cutting board as a move-in present. Not only will they appreciate the gesture, but owners also can prevent their counter tops from being damaged.

3. No Dim Bulbs: Owners typically turn on all the lights when they show the interior of a residence. This is a good practice. But even better is to make sure the bulbs are the highest approved wattage - especially in the closets. Avoid having any bare bulbs.

4. Shower Power: Install a shower rod and a colorful shower curtain. It adds color, plus you can arrange it to cover any bathtub defects.

5. Grate Expectations: Put a grate in the fireplace with a few logs. This brings an otherwise dead-looking fireplace to life.

Information gathered from NAA IRO Best Practices Guide
By: Jack Terrillion

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