If you’re in between tenants at your rental, think about what work could be done there to maximize its income. Choosing which upgrades to make to your rental property can mean the difference between your property being rented or your property sitting empty. Choosing the right projects may attract tenants and keep future maintenance costs down.
Nothing will make a room seem clean and fresh like a new coat of paint. Paint is usually inexpensive and easy to get, and painting can be done in a day or a few days. Choose light colors to make rooms seem bigger and brighter. If you can’t paint all the rooms in the rental, consider painting rooms that prospective renters will see first: the entranceway, living room, kitchen, etc. Don’t forget to paint the trim and clean up any paint spills. Renters will generally be drawn to work that looks professional.
New carpets can also give a sense of newness and good value. Bedrooms should be the first place to think about for new carpeting. Tenants will usually appreciate clean, fresh new carpet in a place where they spend so much of their time. Choose a neutral color that won’t show wear and take advantage of stain-proofing options carpet suppliers offer. This can help keep down your costs later when cleaning the carpets.
New homeowners love a new kitchen, and so do renters. However, you don’t need to fully renovate the kitchen of your rental property to give prospective tenants what they want. Simply replacing old appliances with stainless steel ones can give a high-end feeling to the kitchen. Many home repair or appliance stores offer great deals on stainless steel models. Fresh paint and new laminate flooring can also perk up the kitchen, all without changing the floor plan.
Add Storage to Add Value
Renters come with stuff, and they need a place to store it. If you can carve out a storage room or add some shelving to a closet, you increase the amenities of your rental. Securing outside storage with locks and security gates often further enhances the value and provides a strong sense of security to tenants.
Little Things Add Up to Big Value
Don’t think you have to only concentrate on larger projects. Details matter too. Makes sure windows, toilets and other fixtures are in proper working order and look good. Change the locks and outdoor lighting.
Projects both big and small can improve the appeal of a place. Good maintenance practices can help your rental property show as well cared for and secure, something every renter wants.