Kitchens & Bathrooms Are The Pillars Of Appealing Rental Properties
If you’re considering investing in rental apartments or entering the property management field, then it’s important to know the best way to use your assets effectively. In this case, residential properties, such as apartments and detached homes, can be a steady source of monthly income. However, that’s only if you find reliable tenants who pay their rent on time and, more importantly, are willing to stay for long periods.
The key to retaining this kind of resident is ensuring that your residential properties have appeal, and kitchens and bathrooms are key.
Where Living Happens
For many potential renters, the state of the kitchen and bathroom will be the dealbreaker/maker in whether a residential property is the one for them. The reasons are, of course, simple. While other rooms in a property can change function and level of quality by swapping out different types of furniture at the discretion of the renter.
However, people can’t buy and install a better stove or shower, so the condition of these items in kitchens and bathrooms is something they have to decide they want to live with and pay for on a monthly basis.
Invest In These Rooms
The kitchen is often the most expensive investment for personal home renovations. While as an investor or property management firm, you want to be cost-effective about your spending, if the cost savings result in people not wanting to live in your apartment or other residential unit, you’ll end up having to spend even more to attract them.
Kitchens and bathrooms are where residents often spend the most important moments of home life, for food preparation, socializing, and, in the case of bathrooms, cleaning and grooming. The key to attracting and keeping tenants is to offer a quality experience in these rooms.
If you’d like to make sure that your rental investments provide a solid, reliable return, contact Occupancy Solutions and let us help.