With property values at record highs and homeownership out of reach for millions of people, it’s a great time to be a landlord. However, given the number of rentals available and the limited number of reliable renters, landlords are under increasing pressure to spruce up their properties to make them more appealing to prospective residents.
Regarding property upgrades meant to increase return on investment, landlords have many options to consider. With that said, only a handful will be worth the upfront investment. The rest are unlikely to significantly contribute to ROI over the course of ownership.
Let’s take a look at seven property upgrades with the greatest likelihood of helping generate more rental income over time: