Ahad, 1 Oktober 2017

Trying To Fetch A Better Rental Rate? These Tips Might Help



Are you planning to buy a property in Singapore for investment purpose? Or do you have a property already and planning to have your room for rent in Singapore for the extra side income? However, there is a strong competition going on with so many rooms for rent in Singapore. Therefore, trying to fetch a better rental rate becomes a tricky situation. Fret not, this article will explore some useful ideas that you can apply to fetch a better rental rate. Most importantly, they can be inexpensive and affordable. 

1. Kitchen upgrade
An upgrade in the kitchen will definitely increase your rental rate as the kitchen is commonly known as the heart of the home. After all, it is a place where family or friends gather together and bond among each other. Replace unused and worn out items such as cabinet knots with things that your tenants need. If you notice a clogged sink, get it repair. Keep the cabinets and sinks scratch free and clean. Changing the kitchen countertops, sinks, new cabinets or even buying new appliances can give your house a new fresh look. You could also rearrange the kitchen floor plan to create more usable space for the tenants. It needs not be extravagant or fancy, just a minor renovation will be sufficient, as a functional kitchen area is still much preferred than a extravagant one.

2. Floor maintenance
Replacing your old floor with a new floor is a great way to boost your rental rate as well. You could try replacing carpet and linoleum with high end material such as laminate, tile, stone or even hardwood to add value to your rental yield. They are not only stylish, but at the same time, it makes cleaning and repairing the floor a much easier job for both the tenants and the landlord. The tenants will definitely want the type of flooring that is easy to maintain and clean to keep the house clean as well. However, do check the prices before making such replacement as some tiles can be relatively expensive. 

3. Bathroom check
A dirty bathroom can be a major turn off to most people. If there are any worn out items in the bathroom such as showerhead, faucets, lighting, or clogged toilet bowls, do get them fixed or changed as most people, if not everyone loathes having issues when they are using the bathroom, especially after a long day at work. Do keep the bathroom clean and hygienic as well as some people can be really fussy over hygiene, especially bathroom hygiene. The positioning of fixtures and positioning plays an important role in boosting your rental rate as well. Nothing annoys the tenants more than finding a fixture located at an odd place, such as toilet paper holders placed at an unreachable place. A clean bathroom will not only increase the rental rate, it will also encourage your current tenants to extend their contracts and stay longer. 

4. Paint
Choosing the right paint, the right color makes a huge difference. Using the right paint can instantaneously revive and brighten your initially dull looking unit. Hence, you can choose a color that will brighten up your unit or a color that adds a touch of liveliness for your unit. Nobody wants to come back to a place where it further brings down the already-tired-from-work mood. Make sure to use only good quality paint as well to protect your home and will certainly last you a few years. If you are unsure of which color to choose, you can always ask for advices from the stores, as most stores offer a wide variety of colors for you to choose from and they will be able to advise you on the matching of the color that suits your house theme. 

Nonetheless, you should always keep the house clean and free from dirt or garbage as everyone wants to come back to a well-cared house that is clean and tidy. If you follow these tips, you will definitely boost your house rental value in Singapore and fetch a better rental rate. Make some renovations or simple improvements to your unit to make your potential tenants feel like it is more than just a house but a home sweet home. Do set a budget to all these renovations or improvements and stick to it, as you do not want to go overboard with what you can afford. However, some improvements do not cost you an arm and a leg and can be quite affordable so always do your research and search for the best price. You will be amazed at how much difference it can make if you follow these tips. Most importantly, you get to fetch a better rental rate for your room to rent in Singapore.  

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