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Real Estate
5 Renovations for Your Rental Property
July 27, 2020
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A nice-looking, tidy home or apartment will not only help you attract new tenants but also help to keep the existing tenants in your property for a longer period. If the home is well-maintained and well-decorated, your tenants might even let you raise the rent.

But how to make your rental home attractive and tidy?

Well, simply by renovating it.

While there are endless renovation ideas that you can use for your rental property, not all are as effective as others. Below, I have discussed some of the best renovations for your rental home so that you can attract new tenants and rent them faster.

Top Five Improvements for Your Rental Property

1.     Focus on the Kitchen

There is an old saying- “the kitchen sells the house”; in modern days, it also helps rent the house. A modern, well-designed kitchen with low maintenance appliances will attract tenants instantly, especially if they are passionate about cooking. Because of its appeal, you must renovate the kitchen to add value to the property.

If you have a limited budget or don’t want a full renovation, you can either add a new backlash or change the cupboards or add a few low maintenance appliances to increase the rental value of your home.

Also, make sure that the kitchen is sparkling clean when it comes to viewing the home.

2.     Don’t forget the Bathroom

In addition to the kitchen, the bathroom is also a tried and tested way to add value to your rental home. The more attractive a bathroom is the higher the chances of renting it out quickly. While re-decorating and re-designing the bathroom of your rental property, don’t forget to check on the waterproofing and ventilation system. It wouldn’t matter how well-decorated and attractive your bathroom is if water doesn’t pass through or the bad odor remains; it would lose all its appeal.

3.     Use Light Smartly

Well-planned and cleverly placed lighting can change the ambience of your rental home instantly and help you boost your income. You can use different shades and types of light throughout the house as well as the exterior to increase the aesthetical beauty of the house and make it more attractive to the tenants.

4.     Fresh Coat of Paint

Nothing can change the appearance of your rental property as effectively as a fresh coat of paint. It dramatically gives your home a brand new look and helps hike the rent.  However, while choosing the right color, try to avoid dark colors and opt for more neutral shades. A majority of the tenants seem to favor neutral shades more than the others.

5.     Tidy-up the garden

If you have a garden at your rental property, don’t forget to clean it before potential tenants come to check it out. A clean, well-organized garden with adequate watering will increase your rental income greatly.

Final Words

There is no doubt that all the renovations I have discussed above will benefit your property and help you to increase your rents. So, without any hesitation try them at your rental home to add value to it and hike the rent.

For more information, please visit: Charles K. Carillo

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Richard Nevis

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