As a rental property owner in Mountain View, you’re likely looking for ways to increase the rent value of your investment. Since major renovations can be costly, you can choose to make several small, cost-effective upgrades that will significantly boost your property’s appeal and help you justify higher rent prices.
Making thoughtful changes to your rental property can attract more tenants, encourage longer stays, and even elevate your property’s overall value. Here are five actionable tips to help you increase the rent of your Mountain View rental property.
1. Consider Painting The Property To Improve Its Look
A fresh coat of paint is a simple, cost-effective way to improve your rental's appearance, making it cleaner, brighter, and more inviting. Neutral tones like beige, white, gray, and light brown are versatile and help tenants envision their own style. This update can increase the property's perceived value and justify a higher rental price.
A well-maintained, freshly painted unit signals to tenants that the landlord cares about upkeep, encouraging longer stays and lease renewals. If tenants want to personalize the space, allowing them to change paint colors can foster a sense of home, just ensure it's addressed in the lease agreement.
2. Furnish Your Rental With Energy-Efficient Appliances
Energy-efficient appliances are highly attractive to modern renters who value sustainability. While they may have a higher upfront cost, they save money in the long term by reducing energy use and lowering utility bills. Appliances like refrigerators, dishwashers, washing machines, and air conditioning units can lower tenants' monthly expenses, adding value to your property.
You can also update light fixtures with LED bulbs, install smart thermostats, and ensure proper insulation to improve energy efficiency. These upgrades not only justify a higher rent but also make your property more appealing to tenants, who will appreciate the savings and be more likely to stay long-term.
3. Update Your Rental Home’s Flooring
Flooring greatly impacts a rental property's appearance and value. Outdated or damaged floors can deter potential tenants, so updating them is essential to increasing rental rates.
Hardwood is a popular choice for its elegance, durability, and ease of maintenance. It resists stains, promotes better air quality, and requires minimal cleaning. While more expensive upfront, its long-term benefits make it a smart investment. For a lower budget, consider engineered hardwood, vinyl plank, or laminate, which mimic wood's appearance and are equally durable. Upgraded flooring enhances the property's appeal and justifies higher rent.
4. Go For Kitchen Improvements
The kitchen is one of the most important areas of a rental property, and upgrading it can significantly boost the value of your home. Renters often spend a great deal of time in the kitchen, whether it’s for cooking, entertaining, or simply relaxing, so creating a more functional and visually appealing kitchen is key to increasing the rent of your Mountain View rental.
Start with small updates such as installing new light fixtures or replacing outdated hardware on cabinets and drawers. These simple changes can make a huge difference in how the kitchen feels. Additionally, consider upgrading the countertops with modern materials like granite or quartz. Granite countertops are not only durable and long-lasting but also lend timeless appeal.
To further enhance the kitchen’s appeal, consider reworking the layout to maximize space and improve functionality. Tenants appreciate spacious kitchens that make meal prep and cooking more enjoyable. You can achieve this by adding extra storage space, removing unused cabinets, or creating a more open layout.
By investing in kitchen improvements, you’ll increase the overall appeal of your Mountain View rental, making it more attractive to prospective tenants and justifying a higher rent.
5. Dedicate Time To Your Curb Appeal
First impressions matter, and the exterior appearance of your Mountain View rental property plays a critical role in attracting tenants. If the exterior looks neglected, potential renters may assume the inside is in poor condition as well. Therefore, enhancing the curb appeal of your property can be a highly effective way to increase its rental value.
Start by ensuring that the lawn is well-maintained, the landscaping is tidy, and there are no overgrown shrubs or weeds. A professional gardener can help keep your yard looking pristine, and adding a few low-maintenance plants can make a significant visual impact.
Additionally, focus on creating a welcoming entrance. Install outdoor lighting to illuminate the property at night, which not only adds to the curb appeal but also improves security. A clean, well-lit walkway can draw attention to your rental and make it more inviting for potential tenants.
The front door is also an important element of curb appeal. A fresh coat of paint on the door and a new doorknob or handle can make the entrance appear more welcoming and modern. If the front door is in poor condition, consider replacing it with a more stylish option.
By investing in your rental property’s curb appeal, you ensure that it stands out to prospective tenants and leaves a lasting positive impression. A beautiful exterior can make it easier to attract quality tenants and justify a higher rent.
Bottom Line
Increasing the rental value of your Mountain View rental property doesn’t necessarily require expensive renovations. With simple, strategic upgrades such as fresh paint, energy-efficient appliances, updated flooring, kitchen improvements, and enhanced curb appeal, you can make your property more attractive to tenants and justify raising the rent.
If you seek a trusted property management company to help you find outstanding tenants, prepare and maintain your property, collect timely rent, market effectively, and provide financial reports, get in touch with Action Properties, Inc. today!