Real estate is very lucrative. People will always be in need of a place to live, so being a landlord is a great way to round out your portfolio, especially if you own property in an area with high demand for rental units. Of course, it’s not enough to just have units for leasing. You want to make sure that your property attracts renters who are willing to spend good money for a place that is clean, safe, reasonably priced and well maintained.
For many landlords, utility bills, especially energy costs are often the responsibility of tenants. Who doesn’t want to save money on heating and cooling with smart thermostats? These devices can be programmed with apps on mobile devices, and some models can even learn how to heat and cool a place based on a tenant’s habits. Instead of running the A/C all day, a user can program a smart thermostat to begin cooling the place before arriving and shutting off the air conditioner after departure.
Your renters will love having hot water on demand and you’ll appreciate the energy efficiency of a tankless water heater. Traditional water tanks can only provide what’s in the tank, which is usually why you have to wait for the shower to warm up on a chilly morning. An installed tankless water heater Stafford County VA brings your rental unit into the 21st century and helps save some money too.
Everyone likes to feel safe and secure at home, whether they’re renting or buying. Consider offering an easy-to-use security system in your rental unit(s). You may enjoy a discount on property insurance, while your tenants may also see savings in rental insurance. A robust alarm system that includes perimeter lighting and outdoor cameras is an attractive amenity that may prove its worth.
Taking care of your property is the responsibility of an owner, especially a landlord. Do your part by providing well-maintained units with thoughtful upgrades. This elevates the experience for both you and your occupants.