Attract Tenants with these Budget Friendly Rental Upgrading Ideas
As a property owner, property maintenance and upkeep eats into your profits.
But don't worry, there's some good news.
There are simple, cost-effective ways to maintain your property looking great while also increasing your rental income.
Let's look at the top six low-cost improvements for rental houses.
Exterior Pressure Washing
Remember to take care of the exterior of your home, whether it's a condo, house, townhouse or apartment. Pressure washing is a crucial and cost-effective part of maintaining your property. Pressure washing may drastically improve the appearance of a home. To eliminate mold, mildew, or worn materials, pressure-wash the property's exterior, including the doorway, the front porch, and the rear porch (or balcony).
You can either hire someone to pressure wash your home or rent a pressure washer from your local hardware shop if you don't already have one.
Include Landscaping
When it comes to luring potential tenants, landscaping is surprisingly helpful. If you're prepared to put in some effort, you'll have your home's outside looking new and vibrant in no time.
Landscaping materials are affordable, especially if you're only putting flowers in front of the house.
Fresh, well-kept landscaping offers the impression that the property owner or management is well-cared for the rental. It gives your property a personal touch when a renter tours it.
Replacing and Painting the Cabinet Doors
Although many landlords look for buying new cabinets, changing simply the cabinet doors is more feasible. However, it's critical to utilize sturdy wood doors of good quality. After that, you can paint them any color you choose, though we recommend going with a neutral palette.
By replacing the latches and handles, you may give your kitchen a new style that will appeal to future tenants.
Install a washer and dryer in the unit.
Purchasing a washer and dryer for your rental property is more reasonable than you might imagine, and you'll almost certainly get a nice return on your investment.
You can also add a monthly payment for an in-unit washer and dryer, ranging from $30 to $80 per month, based on the appliances' age and the rent amount.
Try hunting for a used set on online classifieds or purchasing a brand new set from sites like Amazon.
Install New Fixtures or a New Backsplash
Renters appreciate a nice backsplash, especially if it's paired with modern fixtures. Backsplashes increase the value of your home right away. Simply choose a backsplash that is both sturdy and easy to clean, as well as having a classic, timeless style. That enables each tenant to simply match their décor and appliances to the kitchen.
The kitchen and bathroom are instantly revitalized with new fixtures such as a modern faucet and overhead lighting. A new backsplash and new fixtures are a terrific (and economical) method to liven up your house if you think it's looking a little tired.
Add a new splash of color.
Painting provides the highest return on investment of any renovation to rental properties, which may surprise you. Buying paint in quantity can help you get a better return on your investment.
This way, if you need to touch up the paint, you won't have trouble matching the color.
You might even be able to get a discount at your local hardware shop if you buy a significant quantity of paint in bulk. If you'd rather bypass this step, you may offer to let your tenants paint their walls, which could be a selling point for certain tenants.
Just make sure to include any stipulations in your lease that pertain to repainting the rental property.
Wrapping up
Most of the tenants prefer ready to move-in facilities. These easy to apply upgrade ideas will make your property look appealing and lead to quick deals. However, it's also critical to stay on budget when it comes to upgrades to maintain revenue. You can also consider taking help of painting professionals to make the most of it.
If you’re looking for hands with your painting project, our team of experts is here at your service. Connect with our team and let them know your requirements. They will draft a customized painting service plan for your building and let you know the estimate for the same.