By RPM Central Valley
Are you planning on upgrading your single-family rental property but aren’t sure what improvements you should make?
Every year many owners struggle with the same decision but the good news is that we’ve made this decision easy for you with these tips.
Cost VS Value
During the process of making renovations to your Rental Property, one of the biggest things you must ask yourself is what is the cost vs. the value of the renovations or improvements you want to make to your Rental?
Thanks to a recent article by Remodeling Magazine we know that the average return on investment you can expect from major renovations to your rental property.
- Adding a backyard deck – This improvement will bring you a return of about 80 cents on the dollar.
- Kitchen remodel – Making a minor kitchen renovation to your home will also bring you a return of about 79 to 80 cents on the dollar.
- Adding an attic bedroom – One of the smartest investments you can make, this investment will bring you a return of about 77 cents on the dollar as well.
What about Multi-Family Renovations
When making additions or renovations to your multi-family rental properties it’s best to consider making the following renovations:
Add wood flooring.
Upgrade the kitchen.
Improve the interior lighting.
Get Property Management
For effective property management contact RPM Central Valley today by calling us at (209) 572-2222 or click here to connect with us online.