Do you own a rental property? Are you looking for a way to increase rental income? While some updates are obvious, others are overlooked by property owners time and time again. Believe it or not, the right garage doors can result in higher rental income as well as a variety of other benefits.
A Greater Sense of Security
Let’s face it: nobody wants to move into a property that is unsecure. This is particularly true if the tenant is not familiar with the area.
While it is easy enough to secure an entry door, many property owners overlook the fact that doing the same with a garage door can be just as simple.
The most important thing to consider is whether or not the garage doors are locked from the outside. In other words, can the door be pulled up and down without a key? If the answer is yes, this must be addressed right away.
A garage door should only go up and down with a key or a remote control opener.
Better Overall Appearance
Are you looking for a way to improve the overall appearance of your rental property? If you have an old garage door – such as one that is wooden and in desperate need of a paint job – it is likely time to make a change.
New garage doors not only look better, but they have many security features built in.
Simply put, the greater the “curb appeal” the higher the rental income.
Energy Efficiency Matters
Does your tenant pay his or her own utilities? If so, you know one thing to be true: they will always be looking for a way to cut back. Unfortunately, old garage doors are anything but energy efficient. Subsequently, your tenant can expect a higher heating and cooling bill with older doors.
No matter who is paying the utilities, you or the tenant, a new garage door can greatly improve the energy efficiency as a means of driving down the monthly expense.
You should now be able to see how the right garage door(s) can result in higher rental income. Yes, it is going to cost some money to upgrade this part of your property. That being said, you are going to recoup the investment over the long run – and that is what matters most.