How to Easily Boost Rental Property Value

Whether you own a duplex or large apartment complex, as a real estate investor, one of the most important aspects of your real estate investment is resale value. In addition to periodic cash flows generated by rents, the cash flow you collect when you sell the property is paramount to a good rate of return. It goes without saying, therefore, that real estate investors rely on their properties increasing in value.

In this case, demonstrating pride of ownership can be one of the easiest ways a real estate investor can boost property value. Curb appeal does mean something in the world of real estate investing, or as the proverbial saying goes, "a picture is worth a thousand words."

Taking pride in the appearance of rental income property shows respect for the property you own. Buyers surmise that if you care for those things that show from the curb, you might also care about those things not visible from the curb. The result is that people who drive by the property (potential renters or buyers) will want to see more; and whenever you are able to get someone to do more than merely drive by your property, it can translate into additional dollars for you.

Here are some rather basic suggestions how you can quickly and easily demonstrate a pride of ownership that might reel in potential customers and ultimately add value to your property overnight.

1. Landscaping: A well-maintained lawn and shrubs, or perhaps spreading some bark dust can make a world of difference to the curb appeal.

2. Cleanliness: Regularly pick up trash--discarded debris or cigarette butts in flowerbeds or parking areas scream messy. Pressure washing the exterior walls, windows, walkways, decks, and parking areas can turn a drab property into a fresh vibrant one that seems to beckon new renters and buyers.

3. Fix what's broken: Nothing shouts neglect louder then things that are broken. Repair broken gates and fences, guardrails, and gutters; and when fixing, be sure to do it right and to use quality material.

4. Painting: Freshly painted front doors and touch up paint for nicks and stains on the exterior walls give an overall impression of quality throughout.

Common sense should tell you that it does little good to use great curb appeal to attract customers only to lose them with drab units. Of course, the inside of your real estate investment property should also display pride of ownership.

With buyers especially, when it appears that your property has too many needed repairs it typically gets reconciled with either a low-ball offer or no offer at all and you lose, either way.