Simple Things That Make a Rental Property More ValuableAs someone who owns rental properties, it’s vital to your business to preserve the value of your properties in a way that will keep them relevant in today’s highly competitive rental market. One of the best ways to do just that is to make small improvements that can lead to steady increases in the value of your properties. Here are a few simple things that can make a rental property more valuable to renters, and in turn, bring in more revenue for your business.
Improve Your Listings
If your property listings look unprofessional, then the rental revenue you’ll bring in as a result won’t reach its full potential. Property listings that include professional photos, for example, can improve your revenue dramatically and come at a low cost when compared to the profits you’ll be losing with a low-quality listing. Posting your listings on websites with better reputations than the standard Craigslist and other free online resources will also go a long way to boost rental values, as you’ll only be reaching renters who are taking their property searches seriously.
Upgrade Flooring
Flooring is one of the main things renters look at when they evaluate a living space. When they see lots of carpet and linoleum, renters will be less inclined to pay higher amounts for rent. It’s always a good idea to update linoleum and carpet flooring and replace them with laminate, wood or tile. Doing so will surely draw in a higher rental rate than if you kept your property’s outdated floors intact.
Increase Storage Space
People today have more stuff than ever before, which has created a need in the modern housing market for living spaces that include large storage areas. Some of the easiest ways to add storage capabilities to your rental properties are to install more shelving throughout the space. Additional shelving is perfect for pantries or existing closets that don’t have shelves, and can also be used to add new storage solutions to any garages or sheds.
Add Modern Faucets
As silly as it may seem, something as small as old sink faucets can influence a renter’s opinion of your entire property. The good news here is that adding modern faucets to your property is one of the easiest and affordable home improvement projects you can do to add value. Popular sink faucet types today include chrome, bronze and brushed stainless steel, all of which renters will be excited to see as they tour your property.
These are just a few of the many great things you can do to improve the value of your rental properties. By upgrading flooring materials, adding storage space, replacing outdated faucets, and posting your listings on higher-quality websites, your rental property will perform for your business better than ever before.

Hot Key West Business Opportunities

Are You Looking for Commercial Property in the Florida Keys?

Use our site to search commercial real estate in Key West and all of the Florida Keys. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated with new properties every HOUR. By creating a Property Manager account you can stay on top of the newest businesses that go up on the market and get Price Change alerts so you can stay ahead of other buyers and beat them to the best deals!
In the meantime, check out these 1-click searches:

Newest Key West Commercial Properties on the Market

Prime Mixed Use Income Producing property for sale. Total of 6 units. There are 2 Commercial units on ground floor facing Truman Ave. Both Commercial spaces now occupied by the Seam Shoppe, a long term, stable tenant. On the 2nd floor there are 4 good size apartments. Each 1bedroom and a loft bedroom and 1 bath. Each has use of large, outdoor deck in back. Potential Gross rental income approx. $15,000/mos.Total of 6 Water and Electric Meters. Rear parking lot for 4 + or - cars. Building in good condition and well maintained.Excellent Replacement Property for a Buyer looking to perform a 1031 Exchange.Owner may consider Seller financing to a Qualified Buyer at Seller discretion. $2,150,000 Active

1109 Truman Avenue KEY WEST, Florida

4 Beds 6 Baths 4,410 SqFt

Prime retail location on busy 300 block of Duval St with great visibility at the corner of Eaton St. Vacant and available now for long term, quality tenant. Perfect for Retail or small Restaurant.Unit B is approx. 880 sf. and has been renovated including new flooring, ceiling tiles, lighting, several sinks plumbed in with front reception area and prep & storage rooms in back. Exterior of the entire building has been renovated as well including new facade and steps. Unit B has a private ADA compliant bathroom. Thousands of tourist walk by daily and nightly. Ample customer and employee parking in the rear. Great mix of tenants including Wendy's, Wicked Lick Ice Cream, Kermit's Key Lime Pie and a large space dedicated to a Bank of America ATM machine for quick cash.Base rent is $80/sf plus $24.40/sf. NNN = $7,656/ mos. rent quoted, plus additional Florida Sales Tax equals total rent per mos. $7,656 Active

335 Duval Street B KEY WEST, Florida

2 Baths 6,495 SqFt

Opportunity to purchase prime Duval St. Real Estate with a very valuable, full, unrestricted 5COP Liquor License BEV5400029 included. An opportunity like this is rarely available anywhere in Key West or Monroe County. State issued Liquor License alone known to have sold recently well over $1 Million. Terrific Upper Duval St. corner location with high visibility from 43' frontage on Duval St. There is all day & night foot traffic from many Hotels & Guesthouses in the immediate area. Near the Southernmost Point in Key West. Historically this property has been a popular Restaurant & Bar and Retail store. Very solid 2,760 sf. CBS Building is currently configured with retail display space and a large, unused kitchen with existing Hood. There is also storage on 2nd floor in the attic. Additional storage, restroom and former Back bar with access off Amelia St.Large corner lot at Duval St. and Amelia St. with 98.75' frontage on Amelia St. x 43.18' on Duval St. Same owner since 2012 motivated to sell, Bring Offers! Existing business not included in sale. $4,500,000 Active

1114 Duval Street KEY WEST, Florida

2 Baths 2,760 SqFt

Buy a Bar & Liquor Store in Key West! Dons' Place is the opportunity to purchase an Iconic and Landmark Indoor and Outdoor Bar & a Liquor Store with a Drive Through! This package is rarely available in Key West or anywhere in the Keys. Big bonus is that is includes a very valuable, full, unrestricted & transferrable 5-COP Liquor License that includes Tobacco & Retail Beverage with no food requirement! BEV 5400161.Monroe County Liquor Licenses are valued well over $1 Million and 2024 County Assessed Values of the two real estate parcels is over $2.5 Million. Total Asset value alone is over $3.5 Million.The Indoor Bar and adjoining Liquor Store are in the main corner, CBS 2,396 sf. building along with men's and women's restrooms, office & storage. The building also operates maybe the only drive through, pick up window for Beer, Wine and Liquor left in the Keys! Several major repairs include new AC unit, new Bar and plumbing. New roof in 2022. There is an assuring backup propane Generac Generator with automatic transfer. All Furniture, Fixtures and Equipment included.Outside is another 1,588 sf. covered outdoor Bar for entertaining, weddings, special events and parties. There is bar and table seating and a separate small office/storage building. The Bar and Liquor store are popular with both tourists and locals. The business is family managed with absentee owners and a few long time employees. Current Bar hours are 7am until 4am, 7 days per week. The Bar and Liquor Store are a money making operation with so many opportunities for growth for a new owner. Currently there is no food service on site, only pre-packaged snacks sold, but HNC -1 Zoning allows Restaurants and likely Food Trucks for added income.Same absentee owners since 1998 and first time listed for sale. Sellers may consider Seller financing to a Qualified Buyer at Sellers discretion. $4,750,000 Active

1000-1006 Truman Avenue KEY WEST, Florida

2 Baths 2,756 SqFt


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