Prioritizing Upgrades for Kailua Kona Homes for Rent
Investors in Kailua Kona homes for rent will want to cater to the needs and desires of prospective renters. Both functionality and aesthetics will significantly impact whether a multifamily rental property will attract renters. In order to meet the needs of your renters and generate a return on your investment, you may need to consider repairing or remodeling.
However, it is difficult to anticipate exactly what people desire in Kailua Kona homes for rent, as renter’s needs and aesthetic preferences vary. Oftentimes investors spend a fortune on expensive alterations that barely raise the property’s value, ultimately resulting in losses on the investment. Below we explore the most crucial changes you can make in Kailua Kona homes for rent to raise the rental rate and ensure you reap a return on your investment.
Kitchen
As one of the most frequently used spaces in a family home, the kitchen is of utmost importance to renters. A dirty, ugly, or dysfunctional kitchen can significantly downgrade the value of Kailua Kona hones for rent.
If your property’s kitchens are outdated but you cannot afford a complete remodel, prioritize elements of the kitchen that will make the biggest impact on its overall appearance. Tile backsplashes and granite countertops go a long way in upgrading the aesthetic appeal of a kitchen.
Stained and dirty appliances are bound to deter your prospective renters. Who wants to prepare their food in a place that appears unsanitary? If a deep cleaning is not enough to make your sinks, refrigerators, stoves, and microwaves sparkle, you may want to consider replacing them.
Bathrooms
Cleanliness and appearance are also essential for bathrooms, where it is common for grime to accumulate between tiles, in sinks, or in showers. If the sinks, flooring, or showers do not look as good as new, it might be time to replace them. Keep your market in mind when choosing replacements. Is your prospective client a high-income city dweller, or a young suburbanite? These considerations should impact your stylistic choices.
While renters may appreciate luxurious bathroom spaces, functionality will typically trump aesthetics. A beautiful sink and vanity will not please a renter if it is constantly clogging. Make sure that the toilet, the sink, and the shower are functioning optimally before you concern yourself with appearances.
Rooftops
Communal rooftop spaces are becoming increasingly popular, as more and more condominium and apartment builders are treating them as a staple of their architectural designs. Those looking for Kailua Kona homes for rent may be willing to settle on a smaller space if they have access to communal rooftop spaces.
Outdoor spaces have become increasingly important to renters in recent years, as urban sprawl has made outdoor community space more difficult to access. Community rooftop gardens add value to a property, especially for urban properties.
If you have rooftop space, think about the most appealing way to utilize it. What is the demographic of your renters? Parents of young children would find relief in easy access to a place for kids to play; college and grad students could use communal areas to study; and urbanites might enjoy a community garden.
Fitness Facilities
Like community rooftop areas, fitness facilities can add value to all of your rental units simultaneously. Demand is increasing for fitness equipment and designated exercise space in multifamily rental properties. These amenities may be especially beneficial for upper class renters or renters with children who cant venture far from home.
Of course, fitness equipment can be very expensive, and creating a fitness space leaves you liable for potential injury. Be sure to have renters sign a waiver before granting access to a fitness facility.
Internet Access
As the number of telecommuters continues to increase, so too does the demand for Wi-Fi. Because telecommuters are relying on the Internet to attend meetings and make work deadlines, it is not only crucial to have Wi-Fi, but to also have high speed Internet.
Many investors are beginning to treat high speed Internet as a necessity instead of a luxury, providing community Internet access to all of their tenants. For telecommuters, a strong Internet connection may make or break their decision to rent your property. But even for other demographics, such as grad students, freelance writers, or frequent online shoppers, high speed Internet is an absolute must.
Furthermore, individuals typically own a whole host of electronic devices these days. It’s not uncommon for one person to own a laptop, cell phone, kindle, fitness tracker, and Bluetooth headphones. All of these electronics will, of course, require charging. Thus, you may want to consider adding electrical outlets and USB ports to Kaila Kona homes for rent.
Windows
Pristine windows help to furnish a space more significantly than you might anticipate. Clearer glass, more light, a better view—these are the little things that your renters might not consciously notice; however, they can significantly impact viewers’ overall impression of the space.
Replacing old windows is particularly significant in cold or variable climates. Poor insulation will make for uncomfortable renters and astronomical heating and cooling bills. If your property’s windows are in poor shape, consider replacing them with double-paned windows, which offer better insulation and noise blockage.