Tips To Get Maximum ROI From Your Rental Home

by Administrator 26. January 2017 19:54

When renting out a property in Killeen, TX, the ultimate goal of all landlords is to earn a significant and consistent profit from their investment. It is important that you use the right techniques to increase the demand for your rental home and live up to the expectations of the tenants.

Given below are some tips that can help you to get maximum returns from your rental home in Killeen:

Rent A Furnished Home

Renting a furnished home can be your best step towards securing a higher rent from the tenants. A lot of people, particularly students, short term renters and those who have recently moved to the city, look for furnished properties that are ready to move in. Having quality beds, sofas, dining room furniture, lighting, bathroom fittings etc. can seem to be appealing for the potential tenants. While furnishing the property, make sure you choose a modern and minimalist decor instead of going by your personal choices. This will make the property attractive to a broader pool of tenants.

Provide Some Additional Amenities

Besides the basic furniture and furnishings,you can even consider providing some additional amenities in your rental home. These may include electrical appliances such as refrigerator, cooking range, microwave, washer, dryer etc. If you have a patio or lawn, you can furnish these areas as well to create a comfortable seating area for the tenants or a place to host outdoor parties. Spacious wardrobes, cabinets, kitchen shelves, fenced yard, garage, security systems etc. are some other amenities that can increase the value of your rental home.

Invest In Home Improvement

Before showing your property to the potential tenants, it is advisable to invest in the necessary maintenance and repair tasks. Replace the rusty door knobs and handles as well as burnt out light bulbs. Mow the lawn, remove weed, trim overgrown bushes, clean the driveway and plant blossoming flowers to give an inviting look to the property. Look for any issues in the roof, basement and attic area as they may lead to major problems in the long run. You can also consider repainting the house if required. However, ensure that you invest in only those improvement tasks that can potentially increase the rental value of the home.

Install Energy Efficient Fixtures

You should focus on making your rental property energy efficient. Install advanced electrical fixtures and appliances that consume less electricity and help to reduce your utility bills. You can even invest in solar panels to further save on energy consumption. Making this initial investment will indirectly help you to retain tenants for a longer time and avoid the expenses of advertizing the property as well as finding new occupants again.

Allow Pets In Your Rental Home

Considering the shortage of pet friendly rental homes in Killeen, TX, it is a wise idea to allow tenants to bring their furry companions along. Renting to pet owners may decrease vacancy cycles as they are likely to stay for a longer period to avoid the hassles of moving and searching for another pet-friendly home. They may even be willing to pay a higher rent in return for a comfortable abode for their pet. If you are concerned about the damage that it may cause to your property, you can charge a security deposit and set guidelines about the type/number of pets allowed.

Increase Rent Strategically

Although setting a rent higher than the average market price may lower the demand for your home, keeping it the same for years can affect your revenue. You must follow a strategic approach so that you do not overcharge from the tenants and maximize your profit at the same time. The terms and conditions should be mentioned in the lease agreement, clarifying the time period and percentage with which the rent will be increased.

We, at John Reider Properties, can help you to get the maximum returns from your rental home in Killeen, TX. Our agents will guide you on the most effective strategies to set your property apart from the rest. For more information, you can call us at (254) 699 - 8300.

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Getting Your Rental Home Ready For Winter

by Administrator 19. December 2016 20:14

Now that the winter season is finally here, you must take some important steps to prevent the chilly weather from taking a toll on your rental home. This will not only protect your property from wear and tear, but also save you from unexpected expenses on roofing or plumbing repair. Winterizing your rental home will also allow your tenants to stay comfortably, ultimately reducing the vacancy rate and assuring a consistent income for you.

Given below are some of the tips that can help to get your rental home ready for winter:

  • Tune up the heating system: It is important to check your furnace or HVAC system to make sure that it is working efficiently. Change the filter and clean it thoroughly so that the vents are not blocked. It will help to keep the rental home warm which, in turn, will lower your utility bills. A well-maintained HVAC system will also prevent accidental fires in your property.
  • Ensure sufficient ventilation: As the doors and windows remain closed most of the time, fresh air does not enter the house. Lack of ventilation increases the risk of mold and dampness, particularly near the bathroom, kitchen and laundry room. To avoid this, you can ask the tenants to keep the windows open during the day or consider using a dehumidifier to minimize the amount of moisture inside the home.
  • Inspect the roof: Broken or cracked shingles in the roof should be identified and repaired beforehand. Also, check for any leaks in the ceiling as it may indicate blocked gutters. Ensure that the downspouts and gutters are completely clear of any debris or leaves so that the water does not accumulate on the roof.
  • Check the pipes: Drain out water from all the indoor and outdoor pipes. Undrained water can freeze and lead to bursting of the pipe when the ice expands. If you do not have frost free faucets, you can consider insulating your exterior plumbing pipes. Disconnect the garden hoses and shut off the water supply. Ask your tenants to keep the heating system on with a minimum temperature of 50-55 °F when they are not at home. This will save the pipes from freezing and bursting due to subzero temperature.
  • Look out for drafts in doors and windows: Cracks in doors and windows can cause a lot of heat to escape from the home. To avoid this, drafts proof all the windows with weather stripping or caulking. You can also use door sweeps to block spaces under the door. Install curtains or insulate the windows with a plastic film sheet to retain heat inside the home. Prefer buying dark colored curtains made of a thick material to add coziness to the room.
  • Trim shrubs, hedges and branches: Strong winds or accumulation of snow can lead to weakening and falling of the tree branches. Hence, you should trim the overgrown shrubs, hedges and branches so that they do not cause any damage to your tenants or the property. Trimming will also help to prepare your plants for the spring season.
  • Reverse the ceiling fan: If there is a reverse switch in your ceiling fan, turn it on. As the blades of the fan move in the opposite direction, the heat generated by the HVAC system will be pushed down. This can be particularly beneficial for homes with high ceilings. A warmer home will also decrease the load on your thermostat, thereby improving its efficiency.
  • Add rugs and warm beddings: During the winter season, tile and hardwood floors can get quite cold. The best solution for this is to install carpet flooring inside the home. Carpets will also trap the heat and keep your home warmer for a long period of time. You can also place wool rugs near the kitchen, bathroom or other areas where you tend to walk without shoes. The bedding should also be replaced with foamy comforters and fleece blankets so that the tenants do not face any problems. 

For more tips on maintaining your rental home during the winter season, you can contact John Reider Properties at (254) 699 – 8300. You can also visit our office at 455 E. Central Texas Expwy Suite 101, Harker Heights, TX 76548.

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Renting Out Your Home In Killeen, TX: What To Expect

by Administrator 25. July 2016 07:13

Every landlord wants to get maximum profits out of his rental property. Killeen, being a military town in Texas, offers rewarding opportunities if you want to rent your home. As most people tend to stay only for a period of 3-5 years, they are likely to look for a rental property instead of buying. So, you need to plan out and take the right steps to make money out of your rental property in Killeen.

Below are some of the things that you can expect when renting out your home:

  • The time taken to rent out: If you have a big and expensive home, it will take more time to rent out. Not everyone can afford a luxurious home, so you may have to wait a little longer to get the right tenant. On the other hand, small homes with the basic amenities tend to be rented out much easily and quickly.
  • Best time to rent out: The perfect time to rent out your home in Killeen is when soldiers move in or out of the Fort Hood area. This is the best time to tap into the rental market and get the best tenants for your property. Get in touch with an experienced property management company in your area to know more details about the best time to rent out and prevalent rental rates.
  • The best areas to own a rental property: The rent prices may vary according to the location of your home in Killeen. As a landlord, you need to look for owing a property in one of the prominent and most sought-after localities. Some of the areas have seen a lot of commercialization in the recent past that has led to an increase in the number of rental properties. However, this also increases competition and eventually brings down the rent.
  • Determining the correct rent amount: Experienced property managers can assist you in determining the correct rental price for your property. They can tell you about the current rent trends in the market, find and screen suitable tenants as well as get all the requisite maintenance work done to make your property look attractive.
  • Make note of additional charges: Before renting out your property and deciding on the rent amount, make sure you include additional charges such as property management fees and maintenance as well as repair charges that you will have to incur. Chalk out all the expenses to ensure you do fetch enough income to accommodate these costs while making profit at the same time.

We, at John Reider Properties, can help you rent out your home in Killeen, TX. For details about the services provided, you can call at (254) 699 – 8300.

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