Until the time is right to put some big money back into your rental property, you can improve the look and feel of the building by making small, inexpensive enhancements.
Rental property improvements are never a bad idea. An updated look often lures in new tenants, while current tenants appreciate seeing maintenance staff around fixing pieces in public areas. The challenge of property improvements is mostly cost. The time spent fixing something up plus the cost of the materials can really cut into a budget if not properly considered. On the other hand, it’s possible to recoup some serious revenue if those improvements lead to great tenants who stick around for the long-term. Let’s take a look at more than 10 great ways to spruce up a rental property for prospective tenants.
Is doing a little work now worth not having to call in expensive experts during an emergency? In the long term, yes.
Benjamin Franklin famously said “A stitch in time saves nine.” The saying is about taking steps now to prevent problems in the future. More often than not, big issues start as little ones, so taking time to resolve little issues before they become big ones can save time, effort and, most importantly to your hotel property: money. The stich in this case is called preventative maintenance. The nine refers to the other stitches you’ll have to make by skipping preventative maintenance.
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