How can I increase the rental income of my property?

Hi William, 

Harry and I are thinking of leasing out our Palisades home since we are spending more time at our Palm Desert home. What do you suggest we do since you’ve already seen it. We want to make more rental income. Maybe you can share this on your Dear William for others too. We want to list for lease in May btw. 

 MJ 

 Hi MJ! 

 We can talk details over the phone but here’s a quick list of the things I would do to your house to generate the most possible income. Top dollar tenants want ocean views (you have it) and they want a sense of newness, freshness and a pinch of modernity. That can happen with your house with a few improvements once you move out. 

 Here are 5 things you can do to improve your rental income: 

 1) Show the house empty so it feels bigger. Tenants want to feel like the place is spacious and they’re the newest tenants living in fresh new energy. 

 2) Paint every wall white. White walls create the feeling of more space and enhance the feeling of crisp, fresh and clean. 

 3) Refresh the kitchen Let’s talk about painting your cupboards, replacing the countertops and getting brand new appliances. Tenants love a solid remodeled kitchen every time. 

 4) Modernize the bathrooms Replace the toilets with new cooler looking ones and reglaze the bathrooms that have bathtubs. 

 5) Make the curb appeal pop. I would suggest adding some drought friendly plants along the walkway in front of your entrance and add some solar lighting to your garden. I can show you more in person what I mean.

PS I would not change floors ever. They’re original hardwood and they’re absolutely delicious. I think if you do all these things, we could likely find a tenant willing to pay 30-40% more in your area. 

 I’ll call you in the morning, 

William