Landlords face a number of responsibilities, and this role can certainly be challenging on occasion. They are likewise obligated to ensure that renters remain comfortable and satisfied with the living conditions of any location. However, we should also remember that the ultimate return on investment (ROI) of any property is arguably the most practical long-term concern.

The good news is that landlords will not necessarily be forced to overstretch their budgets if they are able to adopt a slightly innovative approach. What are some of the ways in which you can increase the value of your rental location? We will look at four surprisingly simple techniques.

Kerb Appeal

A picture speaks 1,000 words; this mantra is even more relevant when discussing the visual appeal of a rental property. Potential renters will be immediately turned off if the exterior is not properly maintained. Furthermore, it is often possible to increase the asking price if the location in question is attractive to the general public. Although maintenance will require an investment, the long-term benefits cannot be denied.

Interior Design Hacks

There are also plenty of ways to spruce up the interior of the property; especially when dealing with older buildings. For instance, why not purchase a series of radiator covers to offer a more modern appeal? A few coats of light-coloured paint can likewise work wonders within smaller environments; providing the illusion of space. From replacing outdated bathroom hardware to steam cleaning window blinds, never be afraid to put in a bit of “elbow grease”.

Modern Amenities

Renters are becoming extremely fickle when it comes to the types of properties they prefer. Generic solutions hardly fit the bill, so it pays to offer a handful of perks that your budget can accommodate. Here are some typical examples:

• Fibre optic Internet connectivity (increasingly popular thanks to hybrid work opportunities).

• Smart heating and lighting (such as customisable thermostats).

• Energy-efficient kitchen appliances.

• Upgraded security features.

The main takeaway point here is that these features will tend to attract those who are willing to pay slightly more for a rental property. Families and young professionals are two relevant examples.

On a final note, it could also be wise to employ an online portal that can determine the appropriate asking price for a rental property. This is an excellent way to appreciate the state of the market in your area, and to set the value accordingly.