Do rental upgrades warrant more rent?

[Holly Baldwin]

My newbie question:

What kinds of rental upgrades, if any, could I (or should I) do to warrant charging more rent on my AZ 3 bed, 2 bath rental home? (this home wasn't purchased as an investment property originally). Although I have already refinanced and am charging full market rent, I still just break even every month....no positive cash flow.

Ex. backyard landscaping? stainless steel appliances? granite counter tops? New light fixtures?

Does any of this type of renovation allow for more rent being charged, or is it just strictly go off market rents? Maybe the upgrades just allow for more desirability, but not necessarily more rent?

Thanks!

Holly

[Mike Giudici]

To the right renter, upgrades can lead to higher rents. It's important to keep an eye on what other rentals have in your market. There is a point where upgrades and extras won't command higher rent due to the other rents in the market.