Rental properties: Five ways to maximize their value

1. Thoroughly inspect it for any damages and make a list of needed repairs. This will give you a clear understanding of what needs to be done in order to get the property up to par and avoid any potential problems down the road.
2. Keep up with regular maintenance. This includes things like regularly cleaning common areas, mowing the lawn, and shoveling snow in the winter. By keeping the property in good condition, you'll create a comfortable living environment, be able to attract quality tenants, and get top dollar for rent.
3. Make necessary repairs promptly. If something breaks, such as a leaking roof or a broken window, don't wait to fix it. By making repairs in a timely manner, you can avoid further damage to the property and keep your tenants happy.
4. Take the time to screen tenants carefully. This includes running credit and background checks and verifying employment. By taking these steps, you can help ensure your tenants will pay the rent and won’t cause problems for others.
5. Offer amenities that will appeal to tenants. This could include a washer and dryer in the unit, off-street parking, or a fitness center on the premises. By offering amenities that tenants are looking for, you can make your rental property more attractive and increase its value.

By following these tips, you can maximize the value of your rental property and create a comfortable living environment for your tenants. After all, happy tenants make happy landlords!