Having a rental property that renters want is a critical part of generating the income you need from your Big Island rentals! You may be saying to yourself, “But my investment properties are in Hawaii! Every house is a house people want!”
While that’s probably true, you can increase how much money you make from your investment properties when you offer the right amenities and upgrades that justify your current monthly rental rate—or even create an opportunity for a rate increase.
However, it’s essential to be aware that certain upgrades can be a waste of your money. If you can’t recover the costs of a property improvement through your monthly rental rate, you don’t need to make that upgrade! So, how can property investors know what renters want in paradise? Keep reading to learn more about the best rental property upgrades in Kona ranked by Kona property management experts!
5. Smart and Safe
Smart home features appeal to today’s renters. These features can also help your tenants feel safer while living in your rental property. The last thing you want any of your rental properties to be associated with is trouble in paradise!
- Upgrade the doorbell to a wireless video doorbell: This safety feature is an inexpensive update that gives your tenants an extra bit of security while at home or away at work.
- Install motion-detection lighting: Security lighting helps deter criminal activity and also helps tenants feel safe. Motion lights are low-cost and easy to install.
An even better perk is installing a timing system that turns lights and other devices on or off: burglaries are more likely to happen during the day when criminals think nobody is home. Your tenants can adjust the timer settings to their comfort level, and the automatic light activity inside and outside the home to provide an additional measure of safety.
4. Curb Appeal
What’s the first impression when someone approaches your Kona rental properties? If you have a beachfront property, make sure you haven’t spent all your time and money to create a backyard oasis while neglecting the front of your rental home! The front of your property is just as important when it comes to the image you give to your renters.
- Choose attractive, welcoming landscaping that’s also easy to maintain.
- You don’t want to burden your tenants with hefty landscaping to keep flowers or vegetation looking lovely throughout the year.
- Simple yet eye-catching landscaping at the front of your properties can attract excellent tenants.
Inspect the front of your Kona rental properties: is it time for a new front door? As an expert Kona property management company, we know that sometimes a fresh coat of paint is all you need to bring your front door back to life! However, if the doors on your properties are worn down from the Kona weather—or don’t match the quality of the exterior of your home—consider replacing them. A new front door can add an instant boost to your curb appeal—and the installation is simple.
3. New Appliances
The appliances in your Big Island rental homes go through plenty of wear and tear. Of course, you want to get plenty of use out of them, but it’s also a good idea to replace the major appliances in your investment properties when they begin to show too much wear. Sometimes, a fresh coat of paint can also go the extra mile in the kitchen if your appliances are functional but aged.
If paint doesn’t fix it—and you provide a refrigerator, oven, cooktop, or microwave—a fresh set of appliances is an instant internal “facelift” for your properties. You don’t need the top-of-the-line appliances with all the bells and whistles, either! However, to make sure you get plenty of life out of these new items in your rental property, choose timeless and durable fixtures.
- If you decide to cut corners with an appliance, you could deal with frequent repairs.
- Replace major appliances with reliable, attractive, and durable upgrades.
- You’ll also benefit from this tax-deductible upgrade to your rental property!
2. Fresh Paint
We’ve already covered certain areas where updating with some paint can breathe new life into your Kona rental properties, so it’s no surprise that it’s highly ranked on our top five list! While a fresh coat of paint should also be part of your Make-Ready Process, your choice in the paint can be either a downgrade or an upgrade.
- Choose neutral paint colors with the right finish that allow your tenants to match their furniture and decor to your rental home easily.
- Avoid cheap paint! Low-cost paint can wear off of the walls more quickly than a quality paint. A cheap paint job is easy to detect during a tour of your properties as well.
- Spring for a professional paint job: if you can hold a paintbrush, you can paint your rental property. However, unless you love to paint and are skilled at painting evenly—even into nooks and crannies—let a professional do the painting for your properties.
The right paint and a quality paint job is an affordable upgrade that makes a big impact!
1. Professional Maintenance
It’s time to leave the DIY maintenance behind if you want to grow your wealth through your Big Island rentals! Tenants hate the hassle of dealing with maintenance problems in a rental home.
As an expert Kona property management company, we know that offering professional maintenance services 24/7 is one of the most beneficial upgrades you can make! Making the switch from tackling your maintenance to a professional solution:
- Increases tenant satisfaction (which leads to longer lease terms)
- Makes your tenants feel acknowledged and appreciated
- Gives you an edge over the competition
- Reduces vacancy and turnover.
Expert Kona Property Management Is the Best Upgrade!
To upgrade your Kona rental and provide your renters the best island living experience, you need an expert in Kona property management! Hawaiian Dream Properties can help you decide on the best upgrades for your properties: whether it’s smart lighting or a fresh coat of paint as part of your Make-Ready Process, we’re here for you!