Remodeling a Rental Property in Phoenix
Did you know that a well maintained home sets an example for your tenants? And basic renovations, like a fresh coat of paint throughout a home, can make a rental property more eye-catching to potential renters.
However, if you are considering remodeling a rental property in Phoenix, such as building an additional bathroom or bedroom that adds substantial value, you can often bring in a higher rental income. Why is this the case? Because most landlords tend to base their monthly rental amount on the home’s overall value.
Gain More Living Space and Increased Value
Wasted space, such as a neglected attic or excessively large garage, may be an untapped opportunity. Talk to a professional remodeling contractor to explore your options. You might want to consider transforming the vacant square feet into a laundry room, master bedroom or expansion to the kitchen. Keep in mind: added living space not only increases your income property’s value, but your monthly rent, as well.
Windows, Doors and Siding
While the home interior is obviously important, it doesn’t matter how nice the indoor space may be if you don’t get potential renters through your door. Speaking of doors: it’s a smart idea to update your door to something solid, with nice, durable hardware for longevity. In addition to the door, new siding and new windows, such as low-emissivity, solar-reflective ones, show that as a landlord, your residents matter. Finally, always ensure the home is mold- and asbestos- free, the wiring is up-to-date and the plumbing, stairwells and overall structural integrity are up to local code.
Whether you are remodeling a rental property, or looking to transform your house into your dream home, contact Republic West Remodeling for the highest quality luxury home remodeling. We proudly serve Scottsdale, Phoenix and the Phoenix Metro area. Call (480) 428-2695 for your free consultation or contact us online.