You put a lot of money into your rental investment, so it makes sense to put some time upfront into making your rental property as damage-proof as possible.
That way, you’re not spending thousands of dollars rehabbing the home after every tenant.
Here are some great ideas to help you maximize your return on investment:
- Get rid of the carpets – Estimates show that carpets last only three years before they need costly and time-consuming steam cleaning. Tile, laminate flooring or vinyl are easier to clean and show less damage, and they’re not much more expensive than carpet when you take the frequency of replacement and cleaning into account.
- Remove luxury, non-essential items and systems – Examples include water softeners, humidity systems, reverse osmosis systems, security systems, and swing sets. These items are often costly to maintain, repair, and replace. Save yourself the hassle!
- Keep the landscaping simple and maintainable – Plant native, drought-resistant plants and grasses that require little water and are slow growing. You can also install a simple irrigation system in order to keep the plants watered without having to rely on your tenants. Desert landscaping is the idea but not just rocks on the back yard which is less attractive to most tenants.
- Paint walls with satin or semi-gloss paint – Stick to one or two colors throughout the home. Egg-shell or similar low or semi gloss paint is more durable and easier to clean. But stay away from high-gloss since we have too much sunshine here in Arizona and high-gloss makes the wall too shining.
- Install door stops and closet door bumpers – These will go a long way to reduce dings and dents on the walls.
As a rental property owner, you want to maximize your income. By spending a little more upfront, such as tile or paint, you can avoid more costly repairs down the road.