Small Property Owners Looking to Increase Their ROI
As a small property owner, maximising space can be a key factor in increasing your return on investment (ROI). By utilising every inch of available space, you can attract more tenants and increase rental income. Here are some tips for maximising space in your small property:
Use multifunctional furniture
Invest in furniture that can serve multiple purposes. For example, a sofa bed can double as a sleeping area for guests, or a coffee table with built-in storage can provide extra space for books, magazines, and remote controls.
Create storage solutions
Storage is always a concern in small spaces, but there are many creative solutions to maximise storage without sacrificing floor space. Consider adding built-in shelves or cabinets to utilise vertical space, or invest in modular storage solutions that can be customised to fit your needs.
Use mirrors and lighting
Mirrors can make a space feel larger and brighter, while strategic lighting can highlight specific areas and create the illusion of depth. Consider adding a large mirror to a small room to reflect light and make the space feel larger, and install accent lighting in key areas such as above a desk or reading nook.
Choose the right colour palette
The right colour palette can also make a small space feel larger. Lighter colours such as white, cream, and pastels can make a room feel more open and airy, while darker colours can make a space feel more enclosed. Use pops of colour sparingly to add interest without overwhelming the space.
Create outdoor space
If your property has access to outdoor space, utilise it to increase your overall living area. Create a small patio or balcony with outdoor seating and plants to provide a relaxing space for tenants to enjoy.
Consider open floor plans
Open floor plans can make a space feel larger and more versatile. Consider removing walls or creating an open layout in the living and dining areas to create a more spacious feel. By utilising these tips, you can maximise space in your small property and increase your ROI.
Remember to always consider the needs and preferences of your tenants when making changes to your property, and consult with a professional if necessary to ensure your changes are safe and up to code. If you’re a small property owner looking to maximise your space and increase your ROI, Decodence Design is here to help.
Our team of experienced professionals specialises in creating functional and stylish interiors that will attract high-paying tenants and guests. Whether you need help with structural works or just want to add some final touches to your space, we can help you turn your property into a profitable investment. Contact us today to learn more about our services and start maximising your space!
