Do you own a rental property that belongs to a homeowner's association (HOA) in New City, New York? If so, it's smart to think of ways that you can beautify, strengthen, and improve your property to maximize your earnings.
When the HOA home value is up, it benefits investors and tenants alike. Today, we're sharing a few simple tips to help you make the most out of your investment and boost your ROI for years to come.
1. Start With Exteriors
One of the main roles of an HOA is to ensure that homes within a community are well-kept and beautifully maintained. When the exteriors look great, it automatically boosts the neighborhood's curb appeal. It also attracts higher-quality tenants.
Beyond marketing, taking care of your buildings is also a smart way to increase property value and keep the structures strong for the long term. Some of the steps you can take to help your exteriors shine include:
- Pressure washing regularly to ward off mold and mildew
- Repainting chipped or worn surfaces
- Installing new siding where cracked, damaged, or missing
- Regularly cleaning, maintaining, and repairing gutters
- Repairing or replacing roof shingles as needed
These are only a few of the ways you can help your property shine from the outside in. Here's a more complete list of home maintenance steps to follow.
2. Update Walkways
When looking for ways to maximize home worth throughout your HOA, don't forget safety. Well-lit and properly maintained sidewalks and walkways are critical aspects to consider. Not only do they keep residents safe, but they're also important for visitors.
If you live in an area that gets a lot of daytime sunlight, consider installing shades over your most-used entryways and walkways. This can help block harmful UV light and adds a beautiful touch to these common areas. It's also helpful to refresh your signage (especially around the parking lot) so people know how to safely navigate the neighborhood.
If you notice any issues during this process, such as crumbling concrete or cracked asphalt, then schedule repairs immediately.
3. Focus on Landscaping
It might sound like a small step, but you may be surprised at how much landscaping can improve home value. Research shows that when lawns and shrubs are neatly trimmed and beautifully designed, values go up by 15% to 20%.
Engage the community and designate a few weekends for yard cleanup and beautification. Pay special attention to shared areas like the clubhouse, gym, and parking lot. Remove any limbs or leaves that have fallen down, cut back overgrown spots, and plant colorful flowers for instant appeal.
Boost Your HOA Home Value Today
Being part of an HOA in New City means you have a commitment to your fellow landlords, renters, and property owners. Following these steps can help you maximize HOA home value and improve your earning potential.
If you're looking for more property management insights or you need a team to handle all of the logistics for you, let us know. We offer full-scale management services for residential and commercial properties, overseeing every step from marketing and screening to maintenance and repairs.
Contact us here to learn more and get started!
