While looking to rent out your rental home or suite, make sure that the place is extremely clean. You may also want to stage the home to give it that “at home” feeling. Tenants are often willing to pay for a beautiful rental property that they will be proud to live in.

 

If you are looking to renovate, focus on the kitchen and bathroom. These are the most important spaces that people look on. These need to be neat and clean space, as well as trendy, but don’t spend a fortune on things like granite counter tops. Save money by buying on sale or second hand,  if it makes sense.

 

Hire an experienced property manager. A property manager should pay for themselves through their knowledge and connections. A property manager can usually find trades people at lower rates because they are able to negotiate volume of work provided. They are also on top of evictions and rental rate increases because they aren’t as emotionally attached as we, the investors, can be to our property. Look for an experienced property manager and consider even interviewing a few of them to find that perfect fit for you and your business.