There are many ways to go about figuring out how to create an investment property for potential buyers or tenants. To be successful at this, however, several important factors need to be addressed and carefully considered by the current property owners. Learning how to create an investment property requires careful focus and work to do be on each of the major living areas of the home. New touches, upgrades, features, and amenities can help ensure tenants have everything that they could want or need while staying there. This in turn will make the property more valuable and also much more appealing to those who show an initial interest in it. Following are some helpful tips to make it easier to create a property set up that tenants will love and want to live in for a long time.

Create a Modern Kitchen Space

The kitchen is one of the most used rooms in the home, even when it is not being used to prepare meals! Aside from its obvious uses, the kitchen is also a common area for social gatherings with friends, entertaining guests who come to visit, a place to do homework, an area that can accommodate games and party nights, and a host of other activities that the family can enjoy. Tenants today want a kitchen that can be used for multiple activities and a space that is versatile and easy to utilize.

All these activities require a more modern kitsch space and that begins with new countertop installation. There is a range of colors, materials, and styles to choose from so finding something that works for the kitchen design should be fairly easy. Other important kitchen remodel aspects to consider include flooring, backsplash tile, lighting, and cabinets. Incorporating all these aspects and upgrades into the home can go a long way in improving the appeal and functionality of the kitchen. This will, in turn, help property owners find out how to create an investment property by ensuring the kitchen is up to date and ready to go.

Give Everything a Professional Coat of Paint

Another tip for helping property owners find out how to create an investment property tenants will be drawn to is to make sure everything looks as nice and clean as possible. For the walls and some other areas of the home, the best way to do this is to work with painting professionals to give every painted service a makeover. Giving over the walls, ceilings, cabinets, and exterior of the home with a fresh coat of paint can do wonders. It can breathe new life into a room and even boost the curb appeal of your home, simply by changing the color paint used. Even if you don’t change the color, a fresh coat of matching paint color and make the home look and feel new and clean inside and outside.

When selecting your paints, be sure to be conservative and careful with your selection. Bright and bold colors usually are not recommended for the exterior of the home as it can be seen as something of an eyesore by neighbors, Inside the home bright colors can be used sparingly as accent colors or on a single focal wall in a larger room. But it still is usually best to go with mild and neutral colors. Most people are ok with tans, greys, whites, and softer pastel colors. Bold colors may be too flashy and clash with furniture too easily and be a turn-off for potential tenants.

Replace Old or Broken Windows

One area of home renovation that often gets ignored when it comes to preparing a piece of property for tenants is window replacement and upgrade possibilities. The windows are an important part of any home for a number of reasons. Not only do they let light in and allow for a quick and easy view of what is outside, but they also can impact a person’s health and safety. Opening windows lets fresh air in and can keep the home clean and safe and free of mold and mildew and poor airflow. Also, windows are an important safety feature in the event of a fire or other emergency so it is important that they work correctly and can easily be opened if needed.

Working with an experienced and licensed window installation company is a great way to ensure you are ready for your tenants. They understand the basics of how to create an investment property and the role windows can play. They will help you determine what style and type of windows are best and help you with any replacement work that needs to be done. Many companies will also come out for routine inspections and can handle repairs and replacements when it is necessary. Overlooking the windows can be a bad choice as it is something tenants will likely look at and take into account when making their final decision.

Update the HVAC System

For property owners who are wondering how to create an investment property, one important piece of the puzzle is to ensure the heating and cooling systems are in good working order. Also, commonly called the HVAC system, these features are something every tenant is going to look at and have questions about. In cooler climates, the heating needs to be in good working order and be reliable during long winters, and the same goes for the air conditioner in warmer climates with long hot summers. HVAC system repair is an absolute must when preparing the property for tenants as it is often a major deal-breaker when things are not in working order.

Even if the current HVAC system is in good working order but is getting up there in age, it may be a worthwhile investment to update to a newer system. Most systems last 15 years or so, depending on how much they are used. If your current system is close to that in years, then it is time to replace and upgrade before things start to go wrong. No property owner wants to have tenants move in just to have the HVAC system die during the first cold snap or the start of the summer heatwave. Being proactive can save time and money down the road, even though it might add to the initial costs upfront to get the property ready. It almost is always a worthwhile investment to make.

Get Rid of Unwanted Pests

No one wants to move in and find that their new home is infested with roaches, ants, bedbugs, or other pests. This is why pest control services are an absolute must before tenants move into any investment property that has been finished. At the very least, DIY pest control measures need to be taken to ensure there are no pests initially when the tenants first move in. However, to ensure long-term protection and to properly protect the property residents, professional pest control will be required.

Knowing how to create an investment property means knowing what will be a deal-breaker for most tenants. And few things will make them turn around and walk away from a property they loved faster than seeing pests all over the place. This is something that cannot be overlooked and must be done to ensure the property is ready and that whoever ends up there will not be surprised to find annoying pests have taken over their new home. Some of the most common pests that professionals can help eliminate and control include fleas, ticks, ants, spiders, roaches, bed bugs, flies, termites, wasps, and mosquitoes. So, be sure the pros are called in to help protect the property from these and other annoying pests.

Invest in New Roofing

There are many systems that are critical for good property management and that tenants will be interested in when considering whether or not to move in. One of these is the roofing system. Property owners who want to know how to create an investment property need to carefully consider whether a new roof will help boost property appeal and value. Many property owners and managers are opting for new metal roofing services to help attract new tenants to their location.

Metal roofs are very popular today because of the many benefits they have to offer that can offset the higher initial price of installation. They last much longer than most other roofing materials. They hold up to wear and tear easier with less maintenance and repair work needed. They can be fashioned in a number of designs and styles to match the building’s look and feel. And they come in nearly every color imaginable, so it is easy to find something that looks just right. Investing in a new roofing system is a great way to improve a piece of property as a quality roof adds almost dollar per dollar value right into the property itself.

Provide Good Parking

Landowners looking for ways to improve their property and who are trying to best determine how to create an investment property often come around to the issue of parking on site. Most tenants want on-site parking and will shirk the idea of parking off-site and walking several blocks to their home. So ensuring there is enough parking to accommodate all tenants and the occasional guest is a critical part of preparing the property. Spacious parking that is in good condition and well lit and safe are all must-haves that cannot be skipped.

Property owners can work with professional contractors who provide driveway sealcoating, leveling, and finishing services to ensure their space is safe, easy to access, and designed correctly. These contractors can also often provide additional services such as maintenance and repair work to keep issues like potholes and crack under control. They likely can also assist with the occasional repairing and re-coating that may be needed to offset the harsh weather and environmental effects. For tenants, convenient and safe parking is something that will be a deal ender if it cannot be provided and guaranteed.

Make Sure There’s Ample Storage Space

Even though most properties designed for multiple tenants are smaller in size that does not mean they should be without some sort of home storage area. Maximizing the size of the closets as much as possible, installing spacious cabinets and shelving, and including even a small spare room for excess storage can all be wonderful features to include. Many tenants will have possessions to bring with them, and they all may not fit out on the floor at all times. So storage for things beyond the basics like clothes and food will need to be provided.

Adding shelves and racks in the closets, putting up storage areas in the kitchen and bathroom, and making the master bedrooms as large as possible can help improve storage access. Also, consider the wall space and maximize it as much as possible to help increase storage space. This can be especially important in high-use areas like the kitchen or in traditionally smaller rooms like the bathroom. Most tenants would rather avoid the need to rent storage space so maximizing the room available for their positions and for storage needs is a great step that can make any property more appealing to future tenants.

Follow All Safety Protocols

The final step that needs to be taken when property owners are working out how to create an investment property for future tenants is to know, understand, and adhere to all safety protocols and regulations. Everything from smoke alarm installation in every home, to an operational sprinkler system, to posted evacuation and posted fire safety protocols, all need to be followed to the letter. There are often local, state, and even federal guidelines and requirements for properties designed for multiple tenants. These must be followed in order to protect those who live on-site.

This is not the time or place to try and cut back on expenses. Property owners are responsible for the safety of those living on-site to a certain extent and injuries or loss of life caused by poor fire safety systems can lead to expensive lawsuits and charges. It is not worth the risk. Hiring professional fire safety teams to install and maintain these critical systems is an investment that is worthwhile and should never be skipped. Fires can be one of the most devastating disasters for multi-tenant properties, so every precaution must be taken to ensure the safety of all residents.

Following these easy but essential guidelines can help any property owner answer the question of how to create an investment property once and for all with confidence!