Painting a Rental Property
Painting (or repainting) a rental property can be a great long-term investment for the asset you have put so much work and sweat into. Painting, whether it is interior or exterior, can lead to an improved ROI in many ways:
Painting can increase the value of a home for resale. A blog post by Zillow has outlined many different parts of the home you can repaint to see the greatest return on your investment. The link can be found here: https://www.zillow.com/blog/blue-kitchens-sell-for-more-216631/. For example, homes with blue bathrooms sell for nearly $5,400 more then expected. This article outlines some of the colours that have the best reactions from buyers, across all of the rooms in the house (hint: greys and blues seem to win out the most). When you are thinking about selling your home, consider doing some painting just before you start staging your home to generate the highest returns.
Painting can also benefit rental owners during their ownership of the property because they are able to charge more rent per month which can lead to massive increases in the return on investment of your property. It is fairly easy to calculate the expected return on your painting investment based on how much you can raise the monthly rent. You also achieve a happier tenant when they are living in a space that they can call their own. For all the property owners out their you can understand how important happy tenants are to you!
Here are some of the examples of how Revivify Painting has transformed our clients' rental properties to not only make them beautiful spaces but increase rents and raise the property value.
If you are interested in transforming your rental property please give us a call at 343-999-7563 and let us know you read this blog!