7 Practical Strategies To Raise The Value Of Your Rental Property in Cartagena

If you want your rental property in Cartagena to stand out from the rest, these often overlooked strategies are sure to raise the value to your investment. Implement these small changes to elevate your rental property and attract the best guests and renters. Here are the 7 practical strategies that will add value to your rental property in Cartagena:

1. Focus on Comfort and Amenities

   Cartagena has a harsh environment. The heat, humidity, and salty air can make daily life quite uncomfortable for guests and renters. To enhance appeal of your rental property, provide modern amenities and comfort to your guests and tenants to counteract the harsh conditions. Focus on the following:

   Ventilation and Cooling

   In terms of air flow, go for ceiling fans; they are effective, and less visually distracting than standing fans. Remember that good ventilation and air flow will prevent the humidity concentration that leads to mould.
   

   Air conditioning throughout the property ensures your tenants or guests can stay cool. Your A/C units should be powerful enough for the size of the room. If your A/C unit is too small for the space, the room will take too long to cool off. Remember that well-maintained air conditioners will be highly appreciated in the Cartagena heat and save you from unexpected issues while you have guests. Service your air conditioning units at least twice a year, clean filters every other month for high-occupancy rental properties.
   

   WiFi

   Another amenity that adds value to your rental property in Cartagena is quality Wi-Fi. It is common for wi-fi signals to be spotty due to the concrete walls used in construction. Using a signal repeater is a great way to improve signal throughout the place. Fiber Optic internet is available in most touristic neighbourhoods of Cartagena and provide much more reliable connections. Movistar is the top pick for internet providers that service Cartagena, with the most reliable and speedy internet and best customer service. Claro is another good option for consistent internet, offering a broad range of services and availability customer service when you need them.
   

   Furnishings

   Furniture that is comfortable and functional is a must have for your rental property (if you are offering a furnished unit). Choose a style that is neutral enough to appeal to different types of guests, but polished enough to make your property stand out. Think about which essentials your guests need and then add eye-catching details that add value to your rental. Use durable materials that are easy to clean and color palettes that enhance the authentic charm (read on for more about this topic).
   

2. Safety & Security Measures

   Colombia already has a reputation for safety concerns, but there are measures you can take to prioritize the safety and security of your guests/tenants and make them feel at ease. Your renters will appreciate seeing features such as a doorman, steel front door, secure locks, smoke detectors, fire extinguishers, and security cameras, where appropriate.

   
   

3. Make it Green with Sustainable Practices

   In an era where sustainability is increasingly valued, implement eco-friendly practices that appeal to environmentally-conscious renters. Consider measures such as energy-efficient appliances, recycling facilities, and water-saving fixtures to reduce the property's environmental impact. Not only can it save you money in energy efficiency, but you will be doing your part for the planet. Sustainable practices will add value to your rental property in Cartagena.

   
   

4. Sink Your Dollars into The Kitchen and Bathroom

   The kitchen and bathroom are two areas of the home that can significantly influence a renter's decision to rent or lodge with you. If you have a budget for structural upgrades, the most important focus should be in the kitchen and bathroom, as these give you the biggest return on investment. Consider upgrading outdated fixtures, lighting, appliances, and countertops to create a modern and functional space. Avoid materials that get rusty with time as this is bound to happen in the Cartagena ocean air. Add storage solutions such as cabinets, shelves, and organizers to maximize space and improve usability.

   
   

   

   
   

5. Exceptional Service Leads to Exceptional Reviews

   If your rental property in Cartagena is used for short-term rentals, stand out by providing exceptional service to your guests. Offer personalized recommendations for local attractions, dining options, and experiences that will enhance their stay and earn positive reviews. Be quick to address any issues or concerns that arise during their stay to ensure a seamless experience. Make them feel at home with a welcome basket and arrival snacks or drinks. Amazing service will lead to amazing reviews, adding value to your rental property in Cartagena. Ass you prepare for your guests, here is a simple routine to follow.

   
   

6. Location, Location, Location

   Location may not be a "small detail", but it definitely plays a pivotal role in the success of your rental property in Cartagena. There are 2 key location considerations that will make your property stand out in Cartagena: the historic center or beach front. The 2 main reasons people fall in love with Cartagena is the charm of the old historic center or the stunning views and access to the Caribbean sea.
   

   Having one (or both) of these details in your property will add value to your property. If your property is situated within the historic walled city (or Ciudad Amurallada), you will have higher rental value due to their proximity to attractions and magical setting. Similarly, a property with uninterrupted view of the ocean or/and direct beach access, will help justify higher rental rates for the renters and higher ROI for you. A good location will add value to your rental property in Cartagena. If you are in the process of buying a property in Cartagena and need help choosing the best location for your individual needs, we can help guide you in your decision.

   
   

   

7. Maintaining Authentic Charm

   Maintaining the authentic charm throughout your property will add value to your rental property in Cartagena. Similar to the location idea, there are two ways to make your property more true to the essence of Cartagena: historical charm and Caribbean flare. 

   
   

   Historical Charm

   If your property is located in a historical building, preserve and enhance its charm by maintaining traditional architectural elements. Even if you opt to renovate your property, try restoring the original architecture, colorful facades, wrought iron balconies, and tiled roofs. This will maintain the authentic charm of your historical property. Take it a step further, by incorporating local craftsmanship and materials into the design to support local industry and maintain the authenticity.

   
   

   

   
   

   Caribbean Flare

   If your property is a modern beach front apartment, use Caribbean and nautical design elements as they will blend seamlessly with the surroundings. Use turquoise, blues, off whites and sand tones to imitate the colors of the sea. Stay away from harsh and heavy colors such as black, red and dark browns. Incorporate floral, nautical or afro caribbean, patterns throughout your decor in tiles, upholstery, linens, and dinnerware. Whenever possible utilize local artesanal elements. Check out this blog for inspiration.

In conclusion, enhancing the value of your rental property in Cartagena requires a combination of strategic investment, attention to detail, and exceptional service. By focusing on these key details, you can create a standout property that attracts guests/tenants. Now is the time to elevate your rental property in Cartagena and capitalize on the city's allure. If you require personalized help on this topic, contact us today so we can guide you on how to maximize your investment.