Strategies to increase rental revenue from your property in Kerala

Upgrade with value adding renovations

Upgrading ones property with modern finishes, better layout and an energy efficient system can significantly increase rental value.

Modular kitchens and modern bathrooms with a great finish and latest amenities, energy efficient features such as solar water heaters, water saving features and LED lighting and more can attract eco conscious tenants. To lend an aesthetic charm, modern living can be merged with traditional features such as use of natural materials like laterite stone, wooden panelling or a tiled roof. When it comes to renovations, it is always better to work with a licensed builder to ensure structural safety and compliance local regulations.

Convert underused space into additional units

Expanding or converting more rental areas within your property, especially if it is unused or underutilized is a great way to increase rental income. For example, a separate studio unit can be added on to the terrace, a garage or basement can be converted into a 1BHK rental or an ADU (Accessory Dwelling Unit) could be built. In places such as Kochi, Thrissur or Trivandrum, where space is at a premium but demand for compact rental units is rising, this strategy works well.

Offer fully or semi furnished rental options

In cities such as Kozhikode, Ernakulam, and Kottayam with a growing population of working professionals, students, and short-term migrants, furnished rentals are in high demand. Furnishing your property allows you to charge upto 40% higher rent when compared to unfurnished units. A well-designed, tastefully furnished home appeals to tenants looking for convenience. For new construction projects, planning for built-in wardrobes, modular kitchens, and storage spaces makes furnishing more cost-effective later.

Explore short term and vacation rental opportunities

Kerala being one of India’s top tourist destinations, draws travellers year around to locations such as Munnar, Alleppey, Fort Kochi and Wayanad. This strategy works best if you have a property near tourist hotspots. In this case, the property can be listed as a short term rental on platforms such as Airbnb or Booking.com. Apart from being able to charge a higher per day income when compared to monthly leases, this method offers flexibility in occupancy and usage. It is ideal for second homes and vacation properties. For best results, partnering with a local property management service can make short-term renting seamless, even if you live outside Kerala.

Attract and retain high quality tenants

A well-managed property with happy tenants reduces vacancy, maintenance costs, and turnover. All these in turn will improve profitability. It is crucial to screen tenants carefully and offer longer lease terms with minor rent escalations. Other than regular property maintenance, bringing in value ads such as CCTV, Wifi or caretaker service will bring in a certain brand of reliable clientele.