As a landlord, you always want to make your rental unit as profitable as you can.
The average rent price in Eagan hovers around $1,100 per month. Of course, what you can charge for your rental property will depend on numerous factors, such as location, size, age, and amenities.
It can be tricky to strike a balance between making the most money possible and creating demand for your property. In today's post, we'll tell you how to maximize your Eagan, Minnesota rental valuation.
You deserve your property to make money, so keep reading and maximize your investment today.
Curb Appeal Matters
You can't change where your real estate is located, but you can alter the curb appeal. By making alterations to the exterior appearance of the building, you'll be able to make it more competitive in the Eagan rental market.
Things like landscaping and a fresh coat of paint are easy and affordable improvements that'll drive demand for your property. It also shows that you care as a landlord, which is an enticing prospect for a desirable tenant.
Long-Term Tenants
When tenants are constantly moving in and out, it takes a toll on your property in multiple ways. For one, it puts a lot of wear and tear on the unit itself. It also leads to vacancies, which makes it hard to continue to make a profit in the unit.
Getting long-term tenants requires you to have a good tenant screening process. You also need to be a responsive landlord that attends to your tenants' needs. Combine these two things, and you'll have long-term tenants who care for your rental property, boosting the valuation.
Regular Maintenance
A property that holds its rental value is well-maintained. Not only should you be responding to tenant maintenance requests, but you should also take the initiative to keep your unit in great shape.
As mentioned above, rental units go through extra wear and tear. Staying on top of regular maintenance will ensure that you can keep getting market value each month.
Improve Amenities
You should always try and improve the amenities in your rental units. Whether it's installing new windows when the old ones are worn out or new appliances in the kitchen or laundry room, amenities go a long way in selling your property to renters.
In general, people will look a lot more kindly at rent increases when a landlord is always trying to improve the rental property. If you're trying to maximize your rental income, don't stop investing in your units.
Property Management Boosts a Rental Valuation
These tactics will help you boost the rental valuation for your Eagan, Minnesota property. Another thing that'll help you maximize your real estate investment is hiring a qualified property manager to take care of everything from property marketing to getting rent payments on time.
PMI TC Metro is Eagan's top option for rental property management. Contact us today to learn more about our amazing services and how we can take your Eagan rental property to new heights.
