How much is your Jacksonville rental worth? If you're looking for ways to make your rental even more sought-after, you've come to the right place. With a savvy strategy and some even small changes, you'll see your value go up.
Read on to learn how to boost your rental valuation in Jacksonville!
Make the Right Upgrades
When it comes to property appraisal tips, a big one is to commit to upgrades. Regardless of where your rental location is, aesthetic improvements will help. Start by trimming hedges, adding flower beds, and making other exterior improvements.
Inside, upgrade aging bathrooms and kitchens. Even fresh backsplashes or carpets can be enough to give a cosmetic makeover. And that, in turn, can boost your property's value.
Investing in upgrades may make it tempting to neglect maintenance to save money. But look for other ways to trim costs so small problems don't snowball into bigger costs. For instance, using a more robust tenant screening process can ensure that your tenants are well-matched - and that your property isn't vacant.
The best upgrades can improve rental income estimation. They'll also attract a stronger pool of applicants from which to choose your tenants.
Become More Energy Efficient
You can do a Jacksonville rental market analysis to see your competition in the Jacksonville area. You'll find that the most attractive properties will be ones that boast energy-efficient features.
Update appliances that use less electricity and water. Look into solar panels, too, as another way to harness energy from renewable sources. Installing panels can make your property less reliant on the grid.
Energy-efficient appliances can cut utility costs while helping the environment. And these upgrades also might help entice good tenants to stick around. Tenants will want to stay in modern, updated properties.
Invest in smart technology integrations, too. Tenants will appreciate the ability to access everything from music to security remotely.
Create Attractive Outdoor Spaces
In Florida, year-round warm and sunny weather makes good outdoor spaces a must. You can improve your property valuation by investing in inviting outdoor areas for tenants.
Add a simple concrete patio in your backyard with some native plants around it. Place a tasteful table and outdoor loveseat on it with vibrant throw pillows to create the perfect place to relax. You'll set yourself apart from the competition if you can offer an at-home retreat to potential renters.
You'll see the value of rental property upgrades in the rates you'll be able to command, too. You'll be able to charge more per month to tenants to help deflect the costs of improvements. Even so, it's smart to keep an eye on market prices so you're never too far above or below the average.
Improve Your Rental Valuation
Rental valuation improvements can put more money in your pockets. Focus on upgrades, like better bathrooms, that will provide a good return on investment. And invest in energy-efficient features and attractive outdoor spaces.
At Nest Finders, we bring decades of Jacksonville real estate experience to help you maximize your investments. We'll partner with you to make the right adjustments that will boost your rental valuation. Contact us today to learn more!
