Ways to extract higher rent on property!
The rent that a homeowner demands for a house is often the deal maker or the deal breaker. It is the prime deciding factor for the person taking the property on rent. Every area has a set range of rental value and the rent that every house extracts generally falls well within the range. In a few cases if the house is in prime location or is very well maintained, the owner might get a few extra thousands. However, this article talks about what to do if the house you own falls in mediocre category and still you want to demand a high end rent. Read further to get a hang of rent boosting ideas.
Offers: You can always attract the tenants by giving out certain offers. For example, if the tenant agrees to pay the rent demanded by you, you can offer the stay for the first month for free. This could be a great tactic to boost the rent amount. It would be highly beneficial if you are planning to sell the property in the near future.
Furnished apartments: Rent out the property with certain basic furnishings. These furnishings do not cost much; however, they can prove to be highly rent boosting as the tenants see it as an added advantage. The homeowner can equip the house with appliances like washers, microwaves and refrigerators etc. The appliances prove to be one time investment but are beneficial in increasing the rent permanently. The tenants do not need to shift and buy furniture according to your house and therefore, they would not mind paying a little extra.
Deals: A homeowner can provide the tenants with local partnerships of the area like memberships of gyms, health clubs, and entertainment clubs. Generally, every homeowner has these memberships as they come in the maintenance package of societies and residential colonies. The homeowner can handover these basic memberships to the tenants as benefits and can ask for more rent.
Rent boosting ideas are more than good ways to enhance rent. These ideas can often result in a higher perceived property value. The ratings of the consumers also rise and in turn the occupancy gets enhanced. Every now and then one should spend time looking for ways to enhance rent. For more of such regular tips, keep visiting this space.