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Your Online Guide » Home Decor » First Time Home Buyers Guide

[V39]Value Of Rental Property
by P Green, P G
That makes sense. Buying a house is the biggest purchase most people make, and getting a buy-to-let property is a significant investment. For many people, it really is putting their future financial freedom into one building.

No matter what reason you have decided to get a rental property, there is plenty of advice around on how to boost the price of a property quickly.

Certainly the first thing you should do is ensure you do a comprehensive property search to find a house that has the potential to be improved. If you buy a two year old home that's perfect and doesn't need anything doing to it, you will find it hard to add value and push the price up quickly.

That's why it is best to get hold of a rental property that needs work doing, even if it is simple updating such as changing the bathroom or putting a new kitchen in.

To help you prioritise the work that should be done, a report has been released showing which improvements add the most cash to a home.

The report from GE Money Home Lending also compares estate agents' recommended top 10 changes against the ten things homeowners think will add the most to a house price.

As you would expect, estate agents' expert knowledge means they focus on the big things that make a significant difference to a rental property.

These are the items that homeowners in the survey thought would add more value, arranged in order of importance:

1. New kitchen

2. New bathroom

3. Redecorate the house

4. Build an extension

5. Get a conservatory

6. Convert the loft

7. Replace the windows

8. Add central heating

9. Add solar panelling

10. Resurface the driveway

So how does that compare to what estate agents in the survey think will boost the value of rental property?

Well their number one and two items are the real biggies, which will generate more space for the property. At number one that is getting the loft converted; and having an extension built is at number two.

The estate agents predict that converting the loft will add an average ?22,300 to your house price, whereas the extension will add about ?19,271. Not a bad way to boost your rental property, and potentially a great return on investment.

Adding more space also sits at number three in the professional recommendations. Building a conservatory will add ?11,904.

Now we get onto the major improvements to existing parts of the property. Agents have put doing up the kitchen in fourth place, with a price boost predicted of ?8,250. It's surprising to see kitchens not in the top three of this list, as a new kitchen is normally near the top of any list of suggested improvements from experts.

At fifth is adding central heating, worth ?6,147.

Getting the windows in your rental property replaced will add about ?5,239 placing them in sixth place, while a new bathroom will add ?5,155.

If you are handy with a paint brush you can add around ?4,576 to your house price by redecorating, at number eight in the recommendations. If you can do it yourself you will see an excellent return for your money.

At number nine is resurfacing the driveway adding ?3,928, and at ten adding decking to the garden, which will add ?3,617.

As ways to add equity to your house, these are pretty straightforward, and could ensure your investment grows from day one.

Bookitsystem.com offers vacation rental software that can free your mind from the numerous activities involved in managing your rental property. Sometimes it can be pretty frustrating have a whole lot of enquiries coming in for your rental properties, and not enough time to physically reply to all of them.

This is where property rental software can help you organize your reservation system, tell your prospective guests which of your properties is free and when, and also offer alternative dates so that they can make instant decisions and make their bookings online. Result ? no waiting time for answers, increased rental income for you without the hassles of manually taking care of everything, and great service for your guests.

Property rental software saves you, the owner a tremendous amount of time by responding instantly to all the enquiries that come in with all the relevant information like availability, price information, etc. Once bookings are made, the availability calendar is automatically updated so that there is no clash in bookings. All you need to do is incorporate the Bookitsystem availability link into your email autoresponder, customize it, sit back, and watch as it maximizes your property rental income.

Salient features of the bookitsystem.com vacation booking software

This vacation reservation software is totally customizable. You can enter the following information related to your properties and rental policies:

(a) Information about reservation, cancellation, cleaning, payment and other relevant information; (b) Booking methods accepted, whether through credit cards or offline alternatives; (c) Deposits as applicable; (d) Time for check in and check out; (e) How much advance reservation in terms of time; (f) Taxes and fees; (g) Details about your property and a short description; (h) Rental rates; (i) Existing bookings.

Once you have done your part of the job, you can relax because bookitsystem.com allows you to put their link on your website, allowing your guests to make their reservations easily.

For the offline reservations, you can always access the system and enter the details and keep your system updated so that your guests always have a clear idea of availability.

Bookitsystem.com vacation rental software has a streamlined reservation process where it matches the guest's requirements with the availability of dates and location. It also works efficiently if you have more than one property in more than one location. There's a feature that even offers alternative dates in case the property is already booked on the dates opted for by the guest.

You can look at the customer's information recorded by this property rental software to analyze the performance of your property so that you can make necessary changes to optimize your earnings.

Bookitsystem.com vacation rental software prepares individual customer reports and efficiently manages your properties online, providing quick response and action to your customers, so that they come back again and again.
Article Source : Real Estate Public Auctions

About Author
Both P Green & Fabio Cassini are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

P Green has sinced written about articles on various topics from Property Guide, Foreclosure Help and Real Estate. For more information try visiting the Property Today website.. P Green's top article generates over 135000 views. to your Favourites.

Fabio Cassini has sinced written about articles on various topics from Parental Care, Vacation Rentals and Real Estate. Fabio Cassini is the designer of professional . Click to learn more about his. Fabio Cassini's top article generates over 2400 views. to your Favourites.
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