Make Rental Property Improvements with a Hard Money Loan
It’s not just the housing market that’s hot in Seattle, Washington and surrounding communities.Temperatures in the region have been on the rise in recent years, leading to hotter, dryer summers.
In a city with a reputation for rain and cool weather, there has traditionally been little need for air conditioning. But thanks to the shift, A/C’s have become an expected amenity among tenants looking to rent throughout the area, and landlords are making upgrades to meet demand.
Do you need to invest in air conditioning in your Seattle rental property?
Rental Property Air Conditioning Here to Stay
“I don’t think it’s a fad, I think it’s probably going to be a new normal, because it is getting warmer,” says Megan Murphy, senior manager at Paul Allen’s Vulcan Real Estate. According to Murphy, air conditioning is also about being competitive in a highly competitive real estate market.
Air conditioning is standard in other regions throughout the country, setting expectations for people moving to the Seattle-metro area. More Washington State natives and longtime locals who rent are also looking to stay cool in response to the uptick in temperatures.
Rental property investors should take note. If you’re looking to purchase or your current rental units are lacking, keep your tenants happy and comfortable and your property in line with real estate market trends by including air conditioning on your list of “must haves.” Buy properties with central air or retrofit existing rentals. You’ll see long term return on your investment.
Hard Money Loans Offer Fast Cash for Property Improvements
Keeping up with upgrades, repairs and maintenance is important to retaining the value – and ROI – of any rental property investment. When you need to make improvements and cash is tight, we can provide the financing you need to get the job done. Our private money lending team enjoys working with investors with all levels of investment experience, bringing our 30 years in the industry to each client partnership. Give us a call at 1-888-477-0444 and learn about our Gregory M. Russell hard money lender services.