One of your responsibilities as a rental property owner is to keep your unit well-maintained and up-to-date. But while renovations make your property more attractive to potential tenants, they can also be hard on your budget and cut significantly into revenue. The good news is that not every upgrade comes with a painful price tag. So, no matter where you’re looking to improve your unit, here are some practical and affordable ideas.
In the Kitchen
The kitchen is one of the most important spaces of any rental unit because your tenants will likely spend a lot of time there. Try one or more of these inexpensive updates to give your kitchen a fresh look:
Resurface Cabinets – Refreshing the surface of your unit’s kitchen cabinets, or even just replacing the doors, provides an appealing upgrade at a lower cost than replacing the entire cabinets. Remember to replace the hardware to complete the new style!
Create a Backsplash – Adding a backsplash doesn’t require specialized equipment, making it a simple DIY project. A classic look that is easy to clean and fits the feel of your space will create memorable accents tenants will notice and admire.
Replace Fixtures – Sometimes, all it takes is better lighting or a new faucet to make a kitchen (or even bathroom!) feel more modern and inviting.
In the Rest of the Unit
Throughout your rental space, there are opportunities to add updates that will make a big difference in making your property more attractive to potential tenants:
Repaint – A fresh coat of paint will instantly make your unit look cleaner and brighter without a high cost. Choosing a neutral color will appeal to more potential tenants and give them flexibility in choosing their décor.
Make it Tech-Friendly – Smart technology has become less expensive in recent years, and renters seek tech compatibility for their portable electronic devices. Consider adding a smart thermostat or refrigerator, doorbell camera, or USB combination outlet to help your tenants stay connected.
Buy a Washer and Dryer – Tenants appreciate the convenience of having a washer and dryer included. They are great amenities that don’t have to break the budget if you buy an affordable or even gently used set.
On the Exterior – The exterior of your rental property is the first thing potential tenants will see, so it’s a great chance to make a good impression! Here are a few low-cost ways to spruce things up:
Replace Doors – With so much furniture being moved in and out of rental units, doors often get damaged. A replacement will help your unit look well-maintained and can be installed without changing the entire doorframe.
Pressure Wash – A good cleaning can make a world of difference in a building’s appearance. Fortunately, it’s not too costly to hire someone to do the job or to rent a pressure washer if you don’t already have one.
Add Landscaping – Nothing gives an outdoor area an inviting, personal touch like well-kept landscaping. Materials don’t have to be expensive, especially if you’re planting greenery or flowers.
No matter what improvements you choose, finding the right balance between quality and cost will keep your property looking its best in a way you and your tenants can appreciate.
About Rentals America
Rentals America provides full-service property management for residential rental properties. Our team is dedicated to property management, and we’re here to help landlords navigate the rental market.
