2021 is around the corner, and the good thing about the end of the year is that it's traditionally a time of the year for investors across the United States to start thinking about their goals, especially the goals that they may have for their rental properties.
If you have rental properties in Las Vegas, it's time to start thinking about the things that you would like to accomplish at your rental properties in the coming year.
Goal #1 - Improve Kitchens And Bathrooms
Since your tenants are going to spend the most time in either the kitchen, or the bathroom, it makes sense for your first goal to be to improve the kitchen and bathrooms in your rental property.
Let’s say that you're on a budget and unable to spend thousands of dollars on a renovation due to Covid-19 or the eviction moratorium, no problem!
Instead of focusing on a massive renovation of either room, focus on repainting the kitchen and bathroom, replacing the flooring, refinishing the cabinets, and replacing the cabinet hardware.
Making these minor renovations will breathe new life into the kitchen and bathroom in your rental property and these improvements will also help your property to look fresh and new to your next tenants.
Goal #2 - Commit To Better Marketing
One of the reasons why many property owners aren't able to attract the tenants that they want is because they don't focus on improving how they market their rental properties online.
Sadly, many owners are still using the pictures they took of their properties five years ago when they're marketing their rentals online. Other owners are not even using video at all. Don't let this happen to you!
If you haven't taken new pictures and videos of your property in a few years, after you renovate the kitchen and bathrooms you should commit to hiring a professional photographer to take new pictures and video of your property.
To help give your marketing the edge, you should also consider hiring a company to stage your property for at least 24 hours, that way when the photographer comes in, they can take pictures and video of a property that looks like it's currently lived in.
Goal #3 - Hire A Property Management Company
Let's say that you're still managing a rental property yourself, if this is the case, the third goal on your list should be to commit to hiring a property management company.
A property manager will save you the time, money, and hassle of managing rental property yourself so that you can focus on enjoying the passive income that comes from your rental property and hopefully growing your portfolio of investment properties as well.
To learn more about the property management services that we can offer you, contact us today by clicking here.