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5 Neighborhood Boosters Your Rental Property Should Provide

5 Neighborhood Boosters Your Rental Property Should Provide

5 Neighborhood Boosters Your Rental Property Should Provide

Owning a rental property is often a long-term investment in the neighborhood, and it makes sense that nearby property conditions and values carry a lot of weight in any real estate venture. But, after you invest, what does your rental property bring to the neighborhood? Here are five basic community contributions that your property should offer:

  1. Curb appeal. It's essential for attracting and keeping tenants, but the neighbors appreciate a little extra effort with the landscaping and maintenance, too. Hide the dumpsters from the street, but don't enclose them; that might provide a personal safety hazard for residents.
  2. Safety. A well-maintained property with sturdy fences, lighting and plantings that enhance security can help everyone nearby sleep better at night, too.
  3. Long-term renters. Tenants who plan to stay several years in one location tend to treat it with more respect than short-timers. Attract and keep long-term renters; your community will thank you.
  4. Peace and quiet. This goes along with long-term renters. Be clear with your tenants: after 9 p.m., rock and roll IS noise pollution. So is any other sound that can be heard outside their walls.
  5. Considerate neighbors. Urge residents to be considerate of others who live in their community. Cars left up on blocks and unsupervised teens roaming the streets at night do not make for good neighbors, and some tenants only need a gentle reminder – or a review of the lease agreement they signed – to act more neighborly

Maintaining a rental property investment requires so much more than just vetting and purchasing a property, then renting it out. By purchasing a residence in a neighborhood, owners become vested in the long-term upkeep of that valuable location. It takes an eye to the future—and to great renters and maintenance—to ensure that the neighborhood and the property retain and grow that value.

 

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