Smart Rental Property Upgrades In Park City Property Management
Every rental property in Park City property management will eventually need some type of upgrade or repair. Whether this is the result of a feature of the property wearing out and needing to be replaced or if you are attempting to add a little pizzazz to your property to set you apart in the market there are many things you can do to a property that can enhance the perception of your investment and can result in less vacancy and turnover in your Park City property management operation. Here are a few tips you can use to make upgrades that are broken out by cost, from the least expensive on up. These are all intended to be reasonable upgrades and not complete remodels/structural additions that could drastically change the character of the property.
Least Expensive
Perhaps the easiest way to make a property appear more modern and updated in Park City property management is to replace things like door knobs and locks, light fixtures, or plumbing fixtures. If your property still has brass door knobs or light fixtures, or chrome plumbing fixtures it might be time for an update. For door knobs and kick plates I recommend a brushed nickel finish. This is typically less expensive than a rubbed bronze but will provide you with a more modern appearance than any type of chrome or brass knob. Look for clean, sleek designs that will also provide a more contemporary feel. Brass light fixtures were all the rage in the 90's but also look terribly dated in 2014. I'm sure you've all seen the brass framed, beveled glass fixture, you might even still have one in your home! But you'll be amazed at how inexpensive a new, updated fixture can be and how much it will change the character of a room. Chrome or brushed metal fixtures can be found at very reasonable prices and with some basic electrical knowledge can be installed fairly easily. The same can be said for ceiling fans and exterior carriage lights. Try to maintain continuity throughout the property with your light fixtures, this will enhance the ambiance of the property. In my experience plumbing fixtures will typically fail long before door knobs or light fixtures. Again brushed nickel is a great way to go, they are inexpensive and modern. Stick with minimal designs and make sure the fixture is compatible with your sink. These small changes can drive up the wow factor in Park City property management.
Moderately Expensive
Moderately expensive upgrades to a property would entail appliance upgrades. Maybe your dishwasher has gone out and it is time to replace it. Did you know there are second hand appliance stores that will buy your used appliances, running or otherwise? Obviously this wouldn't cover the cost of all new appliances but if one of your major appliances is on its way out you can recoup some of the cost of new appliances, upgrade the appearance of your kitchen and maintain continuity, and avoid adding another useful appliance to a landfill. Way to be green! Again brushed metal appliances are always good although for a washer/dryer it really isn't as much of a show piece of the property and doesn't need any real flair. Also recently there has been a trend of black faced appliances. Always consider what works for your property and maintain continuity throughout. Upgraded appliances are a great selling point in Park City property management.
More Expensive
Some easier but more expensive upgrades to a long term rental in Park City would include things like paint and flooring. Hold on a second, paint? But you can buy a couple gallons of paint down at Home Depot for cheap! Yes this is true, and if you plan on painting it yourself then your hard dollar costs are pretty low. But painting definitely ups the elbow grease quotient. You should view your investment property as a business. Your time should also have a dollar amount attached to it. I wrote a blog post about this concept titled "Park City Property Management For 62 Cents An Hour." Check it out if you have some time. Stick with neutral colors in both paint and flooring choices, you'll cast a wider net in attracting tenants and your bottom line will benefit from it.
If you would like more information on smart rental upgrades, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
