Property Management Blog

Simple Renovations to Make Your Home More Attractive to Renters

Archangelo9 - Thursday, July 2, 2020
Property Management Blog

Updating your home doesn't just improve the aesthetic appeal but also enhances its functionality, which is essential in getting renters quickly. As more people turn to modern housing concepts, the eve of competition continues to rise. The first step in making your home ready for tenants is, therefore, to make a few changes. The renovations don't have to be too costly or time-consuming, but they still need to be pleasant.

Adding Extra Storage

If you're targeting long-term tenants, then you need to increase the storage capacity in your home. Depending on your budget, you can build an extension on the property to give them an extra room that they convert into anything or add some shelves. You can still install extra kitchen and bathroom cabinets if you have a tight budget and make the property more attractive and valuable. If you want to add extensions, you will have to hire a contractor, but if you're adding cabinets only, you can do the job with help from a family member or friend.

Painting

One of the simplest ways of bringing a new look in a rental property is by painting. You can follow one of the many DIY painting tutorials available online to get a professional finishing or hire a service provider. Besides painting the rooms, you can target specific areas like the kitchen cabinets or the floors and still get a complete transformation. Make sure you use paints with low volatile organic compounds to protect your tenants from paint fumes.

Brightening Up Space

Most people opt for rental properties with open bid windows that bring natural light to brighten up the room and help save energy. Alternatively, you can install new lighting fixtures than make the room brighter and more attractive. You may have to hire an electrician to install them for you, but it doesn't cost a lot of money or take too long.

Crown Molding

Crown molding isn't a DIY project, but it can bring great results. The kind of value you'll be getting in return in more than the amount of money you'll spend on hiring a skilled professional. You can reduce the renovation cost by buying cheap baseboards and only paying for the professional's artisanship. Crown molding can bring a unique concept on the property and make it stand out, thus giving you a competitive advantage over other rental properties.

Installing New Floors

Another vital feature tenants look for in a rental property is the floor. Since hardwood floors are easy to clean and are elegant, they are the most preferred flooring type. If you have a carpeted floor or tiled floors, it's advisable to spend some money installing hardwood floors. There are cheaper options like vinyl planks and laminate, that you can opt for, but if you want more value for your property and have a bigger budget, then you can choose solid hardwood.

These changes take one week or less and will give you enough room to work with the budget you have. You don't have to spend a lot of money renovating the property, but you can still give your tenants what they need.