As a landlord, your goal is undoubtedly to attract the largest pool of quality tenants possible while ensuring you still turn a profit. What can help you do just that? It may be to make your rental bathrooms ADA accessible. Why? Here are a few of the best — and most profitable — reasons.
1. Your Pool of Renters Grows
Can a larger pool of potential tenants boost your rental profits? The more people you have competing for your place, the more you can get for it. So if you expand your pool to include tenants with mobility issues, you can appeal to an even wider audience.
2. You May Have to Accommodate
ADA laws require that accommodations be made for tenants with disabilities. If you do rent to someone who needs reasonable accommodations like wider doors, flat surfaces, grab bars, or a roll-in shower, you may have to make these changes in a rush. Or you can improve the bathroom's accessibility now when you can control the costs and time frames.
3. You Increase Real Estate Value
Rental income is only one-half of the equation when it comes to making a profit as a landlord. The other half is the rise in the value of your real estate, or its appreciation. Some updates and improvements will go a long way to increasing appreciation, and accessibility features are one of these. They are permanent upgrades that provide a return on your investment for many years.
4. You Have to Update Anyway
Landlords must improve and update their units to keep them relevant to renters year after year. As you make these improvements, make them with accessibility in mind. since you're spending the money, you're smart to spend it in ways that reduce cost burdens later and keep up with renters' expectations.
5. You Set Yourself Apart
Do you face a lot of competition with other landlords in your area? Make your properties stand out by making them more accessible and appealing to more people. Simple improvements like accessibility concerns show that you care about tenants, that you keep your properties well-maintained, and that you go above and beyond. This helps you stand out in a crowded market.
Where to Start
Which of these valuable reasons to improve accessibility in your rental bathrooms is the most important to you? Whether you want to get better rental prices, improve the value of the property, or save time and money later, now may be the right time to take this step. Meet with a remodeling contractor in your area today to get started.
For more info, contact a local company like TDR Contracting.Share