If you own a house, you can increase its value by adding rooms, expanding the garage, and making other significant structural changes. However, those options aren’t available with a flat, so you’ll need to find other ways to increase its value.
Landlords can do that in a variety of ways. For example, they may choose to raise rents if local laws allow. If that can be done while retaining current tenants, the value of the apartments as an income stream for an investor will go up immediately. After all, a savvy investor will determine a purchase price based upon the amount of positive cash flow they can reasonably expect. With falts, monthly rent payments are the primary source of that cash flow.
Landlords can also make the flats they own more attractive to potential buyers by retaining current tenants long term. This tells the buyer that tenants are happy with the flats, indicating that they are in good condition. It also indicates that rents paid will be a steady source of income, without having to spend a lot of time advertising for new tenants.
In many areas, the area available for landscaping may be modest at best. However, any space around the flat should be used for maximum effect. Small bushes and colorful flowers can add a lot to the look of the place. Correspondingly, they will raise the value of the flats. After all, the nicer they look the more likely a steady stream of tenants will want to rent there.
If there are inside stairs and hallways between flats, value can be added by keeping the stairs in excellent condition and painting the walls a bright cheery color. Quality lighting that makes the place look safe, comfortable, and happy makes a difference too.
Inside the Flat
The insides of the flat can be addressed by building owners or by residents, who may own the individual units. Like in the hallways, a new coat of paint can accomplish a lot. Repairing any holes or cracks in ceilings and walls also adds substantial value.
For the floors, it is crucial to have carpet that is free of spots or stains. If a simple cleaning will get the apartment carpets looking new again, that’s great. If not, replacing them will significantly affect the apartment’s value. When replacing them, you can consider which color will best match the newly painted walls. Doing that allows for an excellent overall fashion motif.
Another way to add value to a flat is by replacing old fixtures with new ones. This can be as simple as putting in a new water massage showerhead, or a beautiful stainless steel sink.
These simple touches make the flat look like a whole new place, notably adding to its value.
Traffic patterns around furniture should also be considered. If you have the furniture arranged so there is more open walking space, the whole apartment will have a more free and opulent feel to it, increasing the value even more.
It doesn’t have to cost a fortune to breathe a bit of new life into your flat, have a look at some of the deals available on line and you will realise that sprucing up your flat is actually affordable. With so many great offers on homeware you won’t have any problems finding the ideal décor and furniture to compliment the space.