After buying your first rental property, you’re finding yourself overwhelmed with everything there is to be done. From fresh coats of paint to major repairs, transforming a property from a fixer-upper into a profitable rental requires a substantial amount of work. Luckily, it’s work that pays off in the long run. Rather than throwing in the towel and renting your new property as-is, use these tips to prepare your property for the rental marketplace.

Invest In Home Security

One of the first things any new landlord should do is secure their property. Rental properties are more likely to be burglarized than owner-occupied homes. While landlords are typically only responsible for property damage, recurrent break-ins will drive rental values down.

Improve It's Curb Appeal

Landscaping can also have a pretty big impact on home security. Well-pruned trees and bushes, for instance, add charm to a landscape without giving potential thieves places to hide in the way that overgrown shrubbery can. However, the biggest impact comes from simple maintenance. When a property has freshly mowed grass, weed-free garden beds, and working lights by the entrance, thieves know that someone is paying attention.

Another way to improve curb appeal is by planting flowers. Here is a list of low maintenance flowers you can plant. Easy Low Cost Plants

Of course, security isn’t the only reason to invest in landscaping. Landscaping is also one of the most cost-effective ways to increase rental value. Low-maintenance landscaping is key at rental properties. Look for low-growing native shrubs, drought-tolerant ground covers and perennials, and decorative stone and gravel for a landscape that looks great without requiring a lot of care.

Upgrade The Kitchen

Unless you’re targeting the luxury market, high-end kitchens in rental properties are rarely a smart investment. However, a few inexpensive kitchen upgrades can increase value without costing a lot. If your rental property’s kitchen is sporting white appliances, discolored laminate, and decades-old cabinetry, consider making some of these affordable updates:

• Replace laminate countertops with durable quartz, dark granite, or tile.
• Upgrade outdated appliances to mid-range models in stainless steel or black. If buying new, opt for energy-efficient models.
• Paint cabinets and replace hardware. If the cabinets are beyond repair, replace them with a stock model like the IKEA SEKTION system.
• Update the backsplash. An old-fashioned backsplash immediately dates a kitchen. If the tiles are in good shape, try painting instead of replacing them.

Install a Washer and Dryer

No one wants to haul their clothes to the laundromat. Since renters will pay more for a property with in-unit laundry, this upgrade that quickly pays back. If your rental property doesn’t have washer and dryer hookups, installation can cost as little as $350 to $600 with a suitable location.

Green Up Your Rental Property

Investing in energy- and water-saving solutions is important for landlords who pay their unit’s utilities. Even if you don’t, your tenants are sure to appreciate a home that saves money and helps the planet. Below are ways you can make your rental property environmentally friendly:

• Use low-flow water fixtures.
• Lower the water heater temperature to 120 degrees.
• Install a smart thermostat.
• Seal drafts around doors and windows
• Replace incandescent light bulbs with LEDs.
• Buy Energy Star-certified appliances.
• Choose water-wise landscaping and avoid pesticides.
• Provide bins to encourage tenants to compost and recycle.

Once you’ve greened up your rental property, advertise it! Today’s consumers want to support businesses that share their values, and showing your commitment to running a green business is a great way to attract renters to your property.

You may be eager to turn a profit, but it pays off to improve your rental property before handing it over to tenants. By making improvements like these, you can increase your property’s rental value and get a greater return on your investment.