Renovations don’t have to be scary and expensive. When you think about renovating a Las Vegas property, you might immediately think about gutting a kitchen, adding a new story, or completely remodeling a bedroom.
But, it doesn’t have to be all that.
Renovations can be cost-effective, and when we’re talking about renovating a Las Vegas rental property, they can help you earn more in rent. They can also help you attract high quality tenants quickly, which also affects your earnings.
Attractive and well-maintained homes earn the highest rents. You have to make sure your property can compete.
When it comes to setting your rental price, there are many things over which you have no control. You cannot control the strength of the Las Vegas rental market. You cannot control the amount of competition that happens to exist when you’re looking for tenants and setting rents. Unless you’re about to buy a new investment property, you cannot control the location of your property and whether it’s in a desirable neighborhood.
One thing you can control, however, is property condition.
Making rental property renovations will maximize what you earn. But, you have to make the right renovations and you have to use reliable vendors who aren’t going to go over-budget or delay the project.
Let’s talk about why these renovations matter. Then, we’ll share some of our favorite upgrades and updates that are sure to bring in more rent and better residents.