21 / 04 / 2021
Tips on how to increase the rental value of your property
The estimated value of real estate may vary depending on its size, state of preservation, location, orientation and additional facilities, such as a garage, a swimming pool, a garden. However, a few simple tricks can boost the rental value of your property without having to invest a great deal of money.
Property rental can be very beneficial for landlords, as it provides them with the opportunity to earn extra income on a month-to-month basis. Pollentia Rentals, the leading real estate agency in Mallorca, has some useful tips on how to increase the rental price of your property. Read on and take note!
How to increase the rental value of your property
According to data from ANDIMAC (the National Association of Ceramic Tile and Building Material Distributors of Spain), a well-done renovation can increase the rental value of a property by up to 30%. However, renovations often involve considerable expense, so here are some tips on how to reduce costs and increase the rental value of your property without having to carry out major repairs:
If you want potential tenants to fall in love with your home the moment they enter it, its decoration has to be your best ally. This is possible, provided that simple and elegant elements are used, where quality is more important than quantity. It is also important to choose timeless furniture, preferably made of wood, a material that brings warmth to any home and never goes out of fashion.
As for colours, Pollentia Rentals recommends going for whites, greys and browns, as they combine well with all types of furniture and accessories, as well as never going out of fashion. Another idea that can increase the rental price is to display natural flowers, scented candles and pretty tablecloths strategically throughout the house, as these items will make potential tenants feel at home.
If you are on a tight budget, you can also consider our low-cost tips for decorating rental homes in Mallorca.
Are you a landlord with a property for rent and want to maximise your revenue? To this end, it is essential to ensure that the lighting is well planned and adequate. You can achieve this by letting in as much natural light as possible and by placing mirrors in some of the rooms of your home: two simple actions that will give it a more spacious feel. Installing new energy-saving light bulbs is a great idea if you plan to charge a higher rent: your future tenants will thank you for it, as it will save them money on their electricity bill.
A fresh coat of paint
Spending a few days painting the walls of your property will increase its value in the rental market, as it will give visitors the feeling that they have entered a newly built home. If you are not sure which colour to choose, a good option is always to go for white, as it gives a sense of cleanliness and blends in perfectly with any style of decoration.
Small details make a big difference
In all dwellings we can find a variety of minor elements that, although seemingly unimportant, add considerably to the overall appearance of the property and therefore contribute significantly to being able to increase the rental price. We are referring to elements as diverse as living room curtains, showerheads, cushions, plants, carpets, paintings and lamps. When the time comes to put your property up for rent, check the above accessories and make sure they are in perfect condition.
No better place than Mallorca for renting a property
Mallorca is a Mediterranean island that never ceases to amaze visitors with its stunning beaches, ideal for sunbathing, lounging, strolling and swimming.
At Pollentia Rentals we have a wide portfolio of rental properties, each of which will allow you to spend an unforgettable holiday and experience all that the island has to offer. Please contact us, we will be happy to help you find the perfect holiday rental in Mallorca.