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Ways to Boost Your Rental Value Through Smart Renovation

 Whether you are renting out your HDB unit or your condominium unit, there are some works needed to be done if you want your rental value to be increased. A little effort is needed to enhance and appeal to potential tenants. For example, the high density and supply of HDB units in Ang Mo Kio seems to be competitive for landlord to get it occupied. How is the landlord going to turn the HDB unit to standout for potential renters? Here’s how you can do to boost your rental value.

Wall and paint
Yes, it does affect because you would not want to scare off your potential tenants with the old markings of spills or molded walls. Get it paint fresh and choose bright colours. Bright colours enhance the lighting of the house, it will turn the home more warmth with the brightness. Colours like beige, pastel blue, yellow, pink, or those soft colours. Your potential renters may show keen interest with the unit for being warmth, gentle and approachable. Besides you will like to try designing for other rooms with different colour as different colours serve different kind of ambience and mood. For instance, colour scheme suitable for kitchen and dining area would be red, orange and yellow as those colours tend to stimulate to appetites and happiness in the kitchen and dining room. As for bedrooms, you guessed it, calmer and chilled colour like baby blue, pastel green and so on. Get rid of those mold and paint those walls new.

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Lights on
Ensure your unit is bright enough to brighten up the entire house. Replace or fix those lightings if necessary, like replace diffused light bulbs. If your living room is big, make sure the lights are covered every corner. Ensure more natural lightings to shine through every part of the house to turn your house looks spacious. Lamps can be part of your house deco like installing chandelier to elevate the elegance in the room. Be careful when you choose your preferred lightings as well. You wouldn’t want your room to have overly intense lights, mixed it up to strike the perfect balance. If you would like to save on your utilities bill, alter your lights position, don’t have to settle with the norms, you will be surprise how much you can save on your bill.

Repair and replace
Yes, repair and replace your household items to boost your rental value. Basic fixtures and fittings like old door knobs, loose door locks, fusing lights, ceiling, water pipe leakage and old electrical items. Fix them if necessary or replace them if needed especially the old electrical appliances. You wouldn’t want your rented HDB to be caught on fire. With these new electrical appliances, you can boost your rental by value adding the features to your potential new tenants. Repair your flooring if there’s crack on the floor or if the colour comes off. Make sure your built-in cabinets’ doors are still intact and tightly screwed. 

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Focus on the kitchens and bathrooms
Tenants, like everyone else, do not want to step their feet into dirty and molded bathrooms and kitchens especially when the kitchen was heavily used for heavy cooking causing the walls and floors to be oily and molded. What’s even worse is that when the previous tenants clean the toilet once in a blue moon, I can’t even imagine myself to step into the disgusting toilet. As landlord if you’re faced into this worst scenario, don’t skimp on hiring cleaners to clean both kitchen and bathrooms. Ensure they are squeaky clean and sanitized properly, the cleanliness value added the rental value to show the effort of keeping the unit clean and brand new for the potential tenants. Make sure there’s no pipe leakage or dripping tapes in your bathroom and kitchen. During the tenants’ inspection, it is one of the most inspected parts, as tenants do not want to be get frustrated and deal with piping leakage issues during their tenure in your unit. Get a plumber and fixed those leakage problems. Leakage free will boost the tenant’s confidence and boost the rental value also. 

You can also increase your rental value by using your furniture. Use a sleeker and simpler furniture to create a minimalist feel, instead of bulky furniture. If your unit is a higher-end residential property, you might need to boost your rental by getting a custom-made furniture. For example, instead of a normal table, get one with a marble top or a wooden antique one – does it match the theme, paint, light or etc? Add some texture with different kind of materials to the house by using wooden antique, steel, marble and others.  

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By following the ways above, you can easily boost your rental value. Try it now and do let me know your thoughts in the comment section below.

.: Peace Out :.

Mas Light said...

I always wanted to DIY my apartment to be some of a liveable state instead of leaving it empty, but no budget to do so yet. I love those who did rent out their loft and making it look comfortably homey ❤

Henry Lee said...

@MasLight: Actually empty is good also since you can use a minimalist interior theme for it but as long as everything is working, I think a lot of people would rent it too :)

Isaac Tan said...

ok boss.. thanks for the tips and pointers.

Henry Lee said...

@IsaacTan: No problem dude! When are you bringing me to your home tour? :)

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