Tips to earn a higher rent from your property

So you are one of the few privileged who have two or more than a couple of properties to your name. Well, with millions forced to spend their night with nothing to cover them other than the starry sky, it certainly is a privilege to own more than a single property in this country. Of course you must have invested a lot of money to achieve the same and now it fully justifies if you want some of it to travel back to you. So you count your options and renting out the other home is the first thing that comes to the mind. But did it ever cross your mind why some properties in the same segment earn higher rent than others. Here are some tips that might help you maximize the rental potential of your home:

Renovate your home: Sprucing up the exteriors and interiors of the place you are going to rent out is the one of the oldest trick in the books. Sprucing up doesn't necessarily mean that you need to break it down and build all over from the scratch. That anyways wouldn't make much sense. A fresh coat of paint on the exteriors and a thorough cleaning on the inside would be more than enough.

Advertise Online: Some good marketing tactics would go a long way ensuring that you are able to earn more than average rent for your property. Advertising online on various platforms could be one of these tactics. This will not only increase the reach of your audience but also save the cost of hiring a broker.  The e-commerce boom in our country has ensured that you are never short of options for such advertising.

 Add some space: While there is great market for rentals in our country, one should not forget that competition is everywhere. So if you can do something like adding an extra room or extra floor to your existing home without having to pull it down and rebuilt it all together, then nothing beats that. Alternatively, you could pull down a wall to make a room look more spacious if it goes well with the floor plan of your existing structure.

Add some frills: Furnished houses always have a greater chance of getting higher rent. If you have anything extra to spare that can add value to the property you are going to rent then it is a bonanza. Moreover, services like washing clothes, providing meals can greatly enhance the asking amount. 

Learn all about online real estate marketing and best property with leading companies to help grow your real estate business.