CREATE MULTI-PURPOSE SPACES One of the most unique, yet functional and affordable ways to increase the value of your property is by creating multi- purpose spaces. This has never been more prevalent as property values have increased and buyers are seemingly getting less for their money.
One of the best ways to increase the value of your rental property is with small, individualized storage units that can be secured with a lock. These can be connected to the end of a carport, parking spot or up against the side of the building.
A few profitable examples would be:
Providing the additional storage has multiple benefits:
• Store renter bikes and recreational equipment in a secure area • Keep hallways and units free from clutter and reduce trip and fall hazards • Charge renters more for storage as a value add
• Adding a Murphy bed to a home office • Adding a wall-mounted folding desk to in a bedroom • Having the microwave, toaster or coffee machine built into the cabinetry with pull-out shelving • Adding custom built-ins to niches under the stairwell or inside of small closets • Doors that double as bookshelves • Cabinet spice racks • Garage ceiling storage • Laundry room customizable bins
START SMALL WITH A FEW UNITS, ADDING STORAGE AS YOUR WAIT LIST EXPANDS!
Think about adding affordable features that can also add profit to the bottom line!
Jason Kogok Real Estate Investor Author of Plug the Holes, Fill the Barrel Read Jason’s Book
Elizabeth Campbell Real Estate Agent Lysi Bishop Real Estate Boise, ID Connect with Elizabeth
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