If your old tenants just moved out and you want to freshen up your property, it’s time for a little remodel. Everything from fresh paint, improved floors, bathroom and kitchen renovations and even new carpets can raise the value of your rental and bring you better profit. So, here are some great remodeling improvements to make your property look attractive to renters.
Paint it white
Yes, new fab colors might look great while they are popular, but good old white will never go out of fashion. It’s also the most affordable, easiest to match with other colors and it gives the space a crisp and clean look most tenants look for.
The bathroom is one of the most important rooms in your rental property, so make sure it attracts good attention. For instance, you can invest in new storage space if yours look like it’s seen some better days. Wall mounted cabinets together with a standing vanity will provide your tenants with enough storage space and give the whole place a modern vibe. Hanging units also leave more floor space and make your bathroom look bigger. For a smaller upgrade, buy some new fixtures like faucets, sinks, showerheads and cabinet hardware. Even though they are small, these details will certainly improve the overall look of your space while costing you only a few hundred dollars.
Modernize your kitchen
Most renters, especially families that prepare meals daily, wouldn’t want to spend a lot of time in an outdated kitchen. That’s why the kitchen deserves some good and contemporary additions. New appliances and extra counter space will raise the value of your property and give you a huge return (usually more than 80%) in case you decide to sell. Additionally, make sure to take care of any piping problems before your tenants move in. For a quick fix, opt for practical pipe relining instead of pipe replacement. It requires no digging and the whole process is fast and cost-effective. Future tenants will certainly know to appreciate the fact everything is working without clogs and leaks.
One very cheap yet effective upgrade that can round up your remodel is new lighting fixtures. Appropriate illumination can change the mood of your entire property and give it a pleasant feel. This is also one of the best projects for those who want to try their hand at DIY to save some money. However, if you don’t know anything about electric works, just know that a decent electrician doesn’t cost too much either. While you’re messing with wiring, you can also upgrade your old light switches, install dimmers and place motion sensors outside your rental. Another good thing is that most local hardware stores have lighting fixture sales very often and online stores have a huge assortment of fixtures that are very affordable.
Refresh your floors
If your kitchen still sports that old and shabby linoleum, it’s time to ditch it for some stylish tiles. They might be more expensive, but they last longer and are always fashionable. It’s a great investment that will bring your 80s kitchen into the 21st century.
Most landlords have a habit of replacing their carpets every seven to eight years, so if it’s been a while since you went rug shopping, it’s time for some changes. A new area rug or a runner can lift up the style of the whole space and introduce some extra warmth and softness, especially in the bedroom. However, if there’s no place for new carpets in your budget, opt for deep rug cleaning for only a fraction of the cost.
Include some of these upgrades into your rental remodel and you’ll be able to achieve a much better rent price and attract the higher-paying clientele. So, get to work now and reap the profit once you get new tenants.