Rental property owners or landlords should start to see concrete maintenance or improvements as their business investments. Considering concrete resurfacing creates an additional stream of revenue from your house rental business. Simple changes in your property can go a long way.
Fortunately, there are several ways you can maximize your rental profits.
San Diego Concrete Resurfacing will be sharing some ways you can do to increase your rental income through concrete resurfacing.
What is Concrete Resurfacing?
Concrete resurfacing is the most economical way to repair or remodel an old concrete slab. This process does not require ripping off damaged concrete flooring for replacement. The process only involves concrete cleaning, repair, and overlay to restore the aesthetic appearance and function of the area.
During the installation process, a mixture of thin cement and bonding agents is poured over an existing concrete slab to create an appealing concrete surface. This type of concrete solution is an easy process, saves time and money, as well as provides a durable finish that lasts for many years.
Several Ways to Maximize Rental Income
One of the alarming facts for landlords is that home rental vacancy has been increasing since 2009. This is one of the major causes of income drains that landlords face. But if you have some of your spaces repaired or resurfaced, you will prevent potential losses from taking place. Here are some of the things you can do to increase your rental income:
Improve the Appearance of Your Yard
If you want to create a good first impression for our potential tenants, you have to start improving the aesthetic appeal and function of your yard. The exterior spaces of your house are as important as the interior. An appealing yard gives the impression that your property is well taken care of.
However, you can’t just choose random concrete designs or landscapes. Your tenants should be taken into consideration. Although most people would appreciate a pleasing yard, some people may not like it due to the work that should be done in the area. Choose a concrete resurfacing finish and landscaping materials that are easy to clean and maintain.
The best option for outdoor concrete resurfacing include:
Adds texture and patterns on a newly poured concrete or existing concrete overlay. It is often seen in outdoor spaces, such as patios, walkways, and driveways. Stamped concrete mimics the look of natural stones such as bricks, cobblestone, slate, limestone, and flagstone.
Spray Knockdown Texture is a versatile and durable concrete flooring solution. A thick coat is splattered on the area to create a textured, slip-resistant surface. The material can also be “knocked down” through the use of a trowel for a smoother texture. It offers cooling and slip-resistant features that are perfect for exterior spaces such as pathways in your yard.
Enhance Your Outdoor Living Space
If you have made some improvements in your yard, you can add or enhance your outdoor living space. Doing so will easily make tenants rent the place faster and increase your rental income. You can improve the concrete walkways around the property and patio area with some outdoor furnishings and lighting features.
Walkways and patios can be easily improved through stamped concrete, knockdown texture, or stained concrete. These concrete resurfacing options are affordable and provide a concrete finish that’s durable and long-lasting. Keep in mind that tenants not only want a nice house, they also want to have a pleasing yard where they can relax and be entertained. If you want to maximize your rental income, invest by improving your property’s outdoor spaces.
Remodel Your Kitchen and Bathroom
Two of the most important spaces of a house are the kitchen and bathroom. An outdated or old kitchen and bathroom can be the reason why potential tenants may not rent the place. These two areas of a house will help you in having your property rented out.
If there are any flooring damages on these areas, make sure to have them fixed to make the area pleasing. You can remodel these areas through these concrete resurfacing options: stained concrete, epoxy flooring, polished concrete, and polyurea polyaspartic. These options are affordable and offer tough and durable finishes suitable for your indoor spaces.
Remodeling your kitchen and bathroom is a necessary step in having tenants that are willing to pay more for a pleasing house. It will also serve as a long term investment for your property.
Ensure Safety of Your Interior and Exterior Spaces
To ensure the safety of your property, it is best to immediately repair areas that may cause accidents, specifically surfaces that have cracks, holes, and unevenness. During concrete resurfacing it is recommended that you apply a sealant to your indoor and outdoor concrete spaces. Ask your concrete contractor what is a suitable coating for a specific area. This ensures that your property is safe and secure. You may also place a fence and remove dead tree branches.
The four ways listed above will make your tenants rent your property faster, maximize your rental property income and also increase your property’s value which will serve as your long term investment. If you are one of those landlords who want to increase your income stream, start doing helpful tips mentioned above.