Maintaining a visually appealing and up-to-date rental property is essential for attracting and retaining tenants. But full-scale renovations (especially in our current economy) can be expensive and time-consuming. Luckily, there are numerous upgrades your investor clients can refresh and modernize rental properties without forking over tens of thousands of dollars! Below are some simple yet effective updates that can transform the look and feel of rental properties, helping maximize their appeal to potential, and current tenants.
Paint, Paint, Paint
Paint offers the greatest value for money when it comes to DIY projects! A fresh coat on the walls can revitalize an entire home. Investors will want to consider using neutral colors that appeal to a wide range of tastes. Repainting cabinets, vanities, doors, and built-ins can breathe new life into these fixtures, giving the property a modern and cohesive look.
It’s All in the Details
Even small upgrades can make a big difference! Replacing old, discolored outlet and switch covers can help give the space a cleaner look. Similarly, updating hardware on cabinets and drawers is an easy way to modernize kitchen and bathroom spaces.
Replace Light Fixtures
Outdated or worn-out light fixtures can make a space feel dull and uninviting. By replacing them with more modern alternatives, investors can instantly elevate the overall ambiance of their rental. Investors should choose light fixtures that complement the existing style and character of each room to create a unified look.
Update Window Treatments
Much like light fixtures, window treatments play a crucial role in the overall ambiance and functionality of a rental property. Investors may want to consider replacing outdated or damaged curtains, blinds, or shades with new ones that let in ample natural light while still offering privacy. This Buying Guide from Menards offers an in-depth look at window treatment options.
Update Doors
Interior doors are often overlooked, but they can have a significant impact on the appearance of a home. While hollow core doors are a popular choice due to their budget-friendly cost, they often look cheap and are easily damaged. But completely replacing multiple doors can get expensive. Flat-panel hollow core doors can be refreshed with a simple DIY like this one from This Old House.
Replace Old Carpet
One of the most notable aspects of a rental property is its flooring. Replacing worn-out or stained carpet can instantly refresh the space and make it more appealing to potential tenants. Choosing a durable, low-maintenance option that can withstand heavy foot traffic will help investors get the most out of their money. If your investor clients allow their tenants to keep furry friends, they may want to consider a pet-friendly line of flooring.
Remember…
Updating a rental property doesn’t have to involve a complete renovation, and the internet is full of low-skill, low-cost home-improvement ideas. By implementing these simple yet impactful upgrades, your investor clients can transform the look of their property, attracting high-quality tenants and maximizing their rental income.
