As a rental owner, you always want to make sure that your rental remains in good condition and stays attractive to potential renters. One way to do so is to renovate your rental units.
A renovated property ensures it stand out from others, enhances property value and minimizes repair requests. It also encourages your tenants to rent long-term.
Here are specific areas to upgrade in your rental that will catch a tenant’s attention:
1. Renovate your Kitchen
Kitchens are important to most tenants as they spend a lot of time in this area of the unit.
Here are some things you can do to upgrade your kitchen:
- Appliances: Consider investing in quality appliances that match, such as stainless-steel ones.
- Cabinets: Paint, varnish and purchase new door handles that can refresh the look of your cabinets.
- Countertops: Granite countertops can easily elevate the style of your kitchen, but you can also consider alternatives such as quartz, marble and limestone. The important thing is the quality and durability of the material.
- Modern fixtures: Stylish faucets and a smooth backsplash can easily give your kitchen a contemporary flair.
2. Remodel your Bathroom
Bathrooms are another area that tenants look at when trying to find a rental. So, ensure your bathroom is attractive to prospective renters.
Here are some bathroom renovation ideas:
- Replace the toilet seat.
- Add new shower heads and faucets.
- Expand the area to make it look less crowded.
- Build more storage for towels and other bath essentials.
- Install sliding doors to save on space.
- Have a walk-in shower instead of a bathtub as it will take up less space.
- Add more shelves.
- Improve the vanity counters.
3. Consider Curb Appeal
The exterior look of the property is super important as it creates a first impression for prospective tenants – and first impressions are important.
Here are some things you can do to boost the appearance of your curb appeal:
- Spend on landscaping.
- Plant a garden.
- Select easy-to-maintain, but beautiful foliage.
- Apply a new coat of paint to the exterior of the property.
- Create an attractive pathway with bricks and concrete.
- Hire a gardener to trim overgrown trees and shrubbery.
4. Update your Flooring
Flooring makes a difference to a home. Most property owners opt for tiles or carpets, but hardwood flooring remains popular for several reasons.
Here are some reasons to consider hardwood flooring:
- Elegant look: This type of flooring looks welcoming and tends to be rated as more valuable and in-demand.
- Easy to clean and maintain: Unlike carpets, where dust can easily cling and stains can change its appearance, hardwood flooring is low-maintenance. It doesn’t require a tedious cleaning process.
- Exudes warmth: If you look through home design magazines, hardwood flooring is often featured. It blends with the furnishings smoothly and gives a home character even as the years pass.
- Long-lasting and cost effective: While hardwood flooring may be costly upfront, you’ll be saving money over time as this flooring is durable. Hardwood flooring’s wear and tear often stretches up to 25 years!
- Unfading color: Hardwood flooring offers a solid appearance that changes little over a prolonged period.
5. Attend to Small Fixes
When renovating your rental property, you can start small. You can start with easy and manageable changes. Spending vast amounts on property upgrades doesn’t necessarily mean greater income. With a few thoughtful alterations, you can create a more attractive rental unit.
Here are quick improvements to consider:
- New paint: Refresh the look of your rental by providing new fresh coats of paint.
- Modern light fixtures: Upgrading the light fixtures is a great inexpensive way to make your rental look more modern. Light fixtures come in a range of style and prices. You can pick one that makes your unit more cozy and brighter.
- Closets and shelves: Tenants consider storage space as one of the top-rated amenities. So, consider this during your remodeling project.
- Door handles: Doorknobs can easily be replaced at little cost. Add more secure locks to meet greater tenant safety.
- Blinds and curtains: Adding blinds and curtains can complete the look of a home. It also helps to filter the outside light and offers more privacy to the tenants.
Initially, you may equate renovations with spending too much money. However, treat property upgrades as an investment because they bring upon many benefits.
A renovated property makes it stand out from others, enhances property value and minimizes repair requests. It also incentivizes your current tenants to keep renewing their leases. The longer a tenant is staying, the more income you can generate.
We hope these renovation ideas were helpful.
If you have any questions, please contact East Bay Property Management.