3 Home Improvements The 21st-Century Landlord Should Make

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Real Estate is a major wealth-building tool. Landlords who own property must understand how to maintain and even upgrade their residential home properties in order to keep them up to code and also compete with other landlords. The following contributed post is entitled, 3 Home Improvements The 21st-Century Landlord Should Make.

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Nowadays, first-time homeowners are more likely to be in their 30s and sometimes even their 40s. Compared to our parents and grandparents, it makes no doubt that the real estate market has evolved dramatically. The price tag has increased tremendously, making it more challenging for buyers to secure the deposit and find an affordable mortgage. As a direct consequence, buy-to-let landlords find that their tenants are more likely to be interested in mid- to long-term tenancy agreements.

Indeed, the difficulty to enter the property market presents a valuable opportunity for landlords. As most tenants are keen to stay for several years, they also seek modern days comfort and facilities in their rented property. The shoe-box, dark property with a low rent doesn’t run the rental market anymore. Tenants want to feel at home, and they expect landlords to create a space that is fit for purpose.

Concrete floor

No tenant wants to look after the garden
The idyllic suburban house with a little garden is a home cliché that nobody cares about anymore. The truth is that your tenants work hard during the week to pay the bills and save money ahead of a deposit. They don’t have any time or interest in maintaining the garden. From lawn mowing to watering, a pretty garden requires a lot of effort – without mentioning money. Your tenants don’t want to spend their weekends clearing the lawn. They want to relax, and therefore, they prefer a front yard that is easy to manage. Consequently, it’s a good idea to work closely with concrete paving contractors to transform your yard into a smooth surface that can act as a cozy patio in summer. Additionally paving slabs are perfect as an impromptu parking space when your tenants receive guests.

Help your tenants save money on energy bills
Windows that let the cold air in and inadequate attic insulation have earned a place in the top ten worst rentals in history, but they are nothing modern tenants are ready to compromise. Indeed, your tenants have no desire of being cold in winter. Many know exactly what to check when they visit a property, and therefore, no landlord can afford to run rentals that waste energy. As most tenants will pay close attention to your windows, your heaters, and the overall temperature in the property, they will quickly spot any issue. But you can also provide additional support towards energy bill management by installing smart technology, which tenants can control with an app. Smart appliances and systems offer a compelling control argument for budget-focused tenants.

Give your tenants control

Switch the carpet for eco-friendly and easy-care solutions
What is the most common flooring solution? If you’re still thinking in terms of costs, you’re approaching the problem from the wrong angle. As a landlord, you need to consider flooring solutions that are easy to maintain – and therefore don’t require replacing each time you put your property back on the market. Concrete floors can be not only elegant, but they are durable, easy to clean, and non-traditional. Wood carpets share the same qualities and can be used for centuries!

Making your rental property appealing is all about putting your tenants’ needs first. Your tenants want something that is easy to manage, that provides great cost control, and that is durable – therefore, they don’t need to worry about it. From your curb appeal to your flooring solutions, it’s time to transform your rental.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.

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