ADD VALUE TO YOURAPARTMENT RENTALS

5 WAYS TO

By: W Darrow Fiedler

Adding value to your apartment homes will give you

the opportunity to increase rent and show tenants

you are available and willing to assist them with any

need. There are numerous ways you could increase

the value of your apartment homes. Here are five

ways to do so.

Increase Rent 1-3%Annually

Utilize Landscapers forBeautiful Curb Appeal

Take SafetyPrecautions

Add a Swimming PoolMake Updates toIncrease the Rent

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INCREASE RENT 1-3%ANNUALLY

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“Make sure you know the rents in the area,

researching sites such as Zillow, Rentometer,

Craigslist, and the MLS if you have access.

You may find there is plenty of room to

increase your revenue a small amount each

year (1%-3%) while remaining competitive.”

--Blake Hilgemann of Time Magazine

MAKE UPDATES TOINCREASE THE RENT

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PAINT &APPLIANCESPaint walls with neutral, earthy tones, and useaccent walls to add a home-like feeling. For newtenants, it will draw them in and will likely havethem feeling at home just by entering theapartment. While with current tenants, it willshow them that your are serious about increasingthe value of their apartment homes. Replaceaged appliances with new, stainless steelappliances.

ADD A SWIMMING POOL

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POOL CARE &MAINTENANCEAdding a pool to the property will pique potential tenants’interests, as it is one of the first amenities tenants will wantto check out.

Keeping a pool clean and chemically balanced is vitallyimportant if you add a pool in your apartment community.

UTILIZE LANDSCAPERS FORBEAUTIFUL CURB APPEAL

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LANDSCAPINGMADE EASYKeeping a landscape fresh and trimmed is an excellent wayto add value to your apartment rental properties. Using alandscaper to do this for you will keep you in the seat ofmanaging the property instead of doing it yourself andpossibly wasting your time.

TAKE SAFETY PRECAUTIONS

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Switch out utility equipment indoors and outdoors forincreased safety. Lighting streets significantly reduces crime.Keep them on timers so that they come on right when it isgetting dark. Make sure to change the timers with daylightsavings times! Replace the bulbs with eco-friendly, energy-efficient bulbs to reduce costs.

Hire a night guard to show tenants you take safety seriously. Wall inthe community and install gates to enter and exit the community. Youcan even hire someone to screen incoming automobiles at theentrances of apartment communities for added security.

Use bulbs that are around 2000-3000 kelvin to provide light thatlooks warmer and cozier for areas such as living rooms andbedrooms. Use bulbs that are between 3100-4500 kelvin forbathrooms to help wake tenants up in the morning and for workareas, such as basements. Use bulbs that are 4600 kelvin and abovefor security lighting outside and garages.

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THANK YOU

See the blog on this presentation here!

THESE ARE ALL WAYS YOU CAN INCREASE THE VALUE OFYOUR APARTMENT RENTAL PROPERTIES AND YOUR PROFIT

AT THE SAME TIME. WHAT WAYS HAVE YOU INCREASEDYOUR RENTAL PROPERTIES’ VALUES? WHAT ARE SOME

IDEAS YOU WOULD SHARE WITH OTHERS? TWEET ME@WDARROWFIEDLER WITH ANY QUESTIONS OR THOUGHTS!