It's crucial that you have plans in place to assist you in seeking and maintaining the greatest tenants . The renovation of your rental home is just one of the many things you might perform in this regard. The improvements listed below will, in our opinion, help you increase the appeal of your rental home.
1. Renovate The Kitchen
The center of any house is the kitchen. Therefore, its look and feel will probably have an effect on a prospect's decision about whether or not to rent the home. As a result, kitchen renovations typically have the highest return on investment.
When renovating your kitchen, you have a lot of choices. First, you can start by giving the kitchen a more unified appearance. This can be accomplished by matching the surfaces' finishes to those of the appliances. Adding new countertops to your kitchen is another alteration you may make. While they are more expensive, they are easy to maintain and last a long time.
2. Repaint The Walls
Painting is one of the frequent remodeling suggestions that benefit any property. An area with outdated, chipped paint is unsightly and can put off potential tenants. You'll be astonished at what a new coat of paint can accomplish for any space.
Sticking to neutral colors when repainting is safer because they merge with other colors easily and appeal to most people. Avoid using bold, vivid colors since they might not appeal to everyone's taste. To prevent bumps and uneven lines on the wall, make sure an expert does the painting process. Painting is a simple technique to change a room's appearance and make it feel more inviting.
3. Improve The Appliances
The addition of eye-catching features to your home, such as modern appliances , can add a new feel to a space during renovations. These can include washing machines and dishwashers. As they are appealing to tenants and raise the rental value of the spaces, these appliances are a terrific addition to your property.
Make sure to have a set budget and seek professional tips and tricks when making renovations. Stick with reputable brands to help avoid suffering losses.
4. Make Lighting Improvements
While we’re talking about lighting, make sure all rooms in your rental are well lit. Poor first impressions are created by dimly lit living spaces and ominous basements.
Enhance natural lighting first. Remove any barriers that might be preventing light, if at all possible. That could be as easy or difficult as chopping down a low-hanging branch of a tree. Or it can include thoroughly cleaning a window to let more light in.
The use of artificial light is next. Use dimmer switches and brighter bulbs to add a little versatility. Consider installing a switched wall outlet close to suitable spots for powerful bulbs if overhead lighting is scarce.
5. Make Bathroom Renovations
The bathroom is another space that can undergo significant change during renovation. Remodeling the floor, adding storage, and changing the fixtures are a few bathroom makeover ideas. It's crucial to remodel your rental's bathroom because many prospective tenants opt for modern bathrooms.
Replace the faucet and cabinet hardware. If you have a small bathroom, add storage to make the most of the space.
6. Replace The Floors
Installing the flooring should be the last step in your renovation process to preserve them at their best. Tenants these days prefer hardwood, laminate, or tile flooring over carpeting. This is due to how demanding carpet upkeep is. You must regularly clean and vacuum around them because they are prone to dirt and stains.
However, installing carpet is inexpensive. Landlords must make a significant investment in hardwood floors. Investing in hardwood flooring has many more advantages than disadvantages if you have the money, as they are elegant, long-lasting, and simple to maintain.
7. Maintain Curb Appeal
What distinguishes or differentiates a space from other venues in the community? Curb appeal. It is also a very important factor on your property making a good first impression.
The fantastic news is that boosting your space's appeal does not have to cost you money. However, it frequently entails keeping the property looking tidy and orderly.
Planting flowers in the garden and cutting the grass are a few ways to ensure your property is welcoming. Even better, set up a seating area with a canopy, chairs, and a table or a postcard box.
Bottom Line
Renovations are a fantastic way to revitalize your home and are often an important step in getting your property ready to rent . You can significantly increase your property's worth to tenants and investors by upgrading it. The need for frequent restorations and repairs will be significantly reduced, though, if your house is well-maintained.
At Rollingwood Management Inc., we are dedicated to offering Austin, Texas, rental property owners full-service property management options.
Property owners can relax knowing their investment is in good hands when they work with our Austin property management firm. We are a locally owned company that supports our communities by offering top-notch management services.