Renters and rentees are a large portion of Fort Collins real estate. With the University near by and great city that is becoming more and more popular, rental properties are a huge component to the housing industry.

When buying and selling investment properties improvements can be an incredibly important, or incredibly foolish decision. This list provides just a few improvements to consider for your property:

Perceived Value: meaning the value you think the home is worth doesn’t matter as much as the value the renter or buyer thinks the home is worth. The good news is that the perceived value can be increased by investing in things that will deliver a suitable return.

Justified Pricing: landlords should actively engage in the surrounding real estate market. Techniques that work well in one area, may not pan out in another so it is important to develop friendships with local real estate brokers. There is no “magic bullet” for justifying higher rental prices, however here are some of the most-recommended ideas:

• Landscape improvements- Think about curb appeal. It doesn’t have to look like a mansion, but it should look like someone cares.
• Light fixtures- make sure all light features work and have ample lighting, as well as being selective with window drapery to allow for some natural light.
• Green upgrades in heating and cooling- it may be expensive upfront, but worth it over time. Often, green incentive programs offer rebates and tax breaks for green upgrades! Also, showing potential tenants the lower utility bills will help.

According to HomeGain, the top three investments for the most beneficial property improvements are cleanliness and reduced clutter, lightened and brightened property and electrical and plumbing upgrades.

Improvements are most justified when they increase the perceived and actual value of the property. In order to do so be sure to study your local market and assess your own situation before investing. Invest wisely!