Name: Budget-Friendly Home Improvement Tips for Your Rental Property
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Budget-Friendly Home Improvement Tips for Your Rental Property

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Switch to the dark mode that's kinder on your eyes at night time.Switch to the light mode that's kinder on your eyes at day time.Strange Buildings is a website about the most impressive buildings on the planet. Not only the bold &amp; beautiful, but the ugly &amp; messy as well!Strange Buildings is a website about the most impressive buildings on the planet. Not only the bold &amp; beautiful, but the ugly &amp; messy as well!Switch to the dark mode that's kinder on your eyes at night time.Switch to the light mode that's kinder on your eyes at day time.All rental properties are going to need some fixing up from time to time, but it can be hard to know exactly how much ‘improvement” is beneficial to the owner. Although the general assumption is that home improvement projects are wallet-drainers, there are actually many ways to effectively and affordably improve a space.As a rental property owner, making the right kinds of changes (within budget) can go a long way in making your property more attractive to renters, which means more money for you in the long run. Utopia Management, real estate investment experts, shared with us their priorities for renovations on rental properties.The two most important spaces in any home are going to be the kitchen and bathrooms. Renters and home buyers alike have shown that these two rooms can make or break their decision to sign.Both of these rooms have many areas or points of improvement to look at. To be more specific, we’ve put together a quick improvement checklist for these spaces.– Replacing the countertops: while this is a pricier project, renters will favor properties with updated and modern countertops, especially if they are granite. If replacement isn’t tenable, you can always lay tiles on top of existing counters.– Improving backsplash by painting, refreshing grout, or replacing in both rooms can have a huge impact. We recommend going with neutral designs to make the space appealing to a wider range of tastes.– You always want to make sure the sinks, tubs, faucet units, and showerheads are clean. Remove rust and build-up from these spaces and if necessary, consider upgrading.– Painting is perhaps the easiest and most affordable way to upgrade any room, especially if you do it yourself. We’ll talk more about this below.Light, bright rooms are among the top characteristics renters are looking for in a rental property. Brightening up a room can be done with paint (more on this below), but it is also a good idea to pay attention to lights themselves. Replacing any old or mismatched lightbulbs for a uniform tone is a must, but you can also consider replacing fixtures themselves. There are many style options to choose from in the light department, but the main thing to think about is cohesion. For example, don’t install a new, gold pendant light if a room already has silver accents. Additionally, don’t opt for the most modern light if the space has an otherwise vintage feel. Unless you can change everything all at once, always aim for a space that makes sense and works together stylistically.Replacing floors entirely can be really pricey. But this isn’t usually necessary. Although renters these days prefer wood, laminate, and tile over carpeting, you can still make the floors attractive no matter what type they are. Cleanliness is key, and removing stains is essential. Cleaning and brightening grout is a great alternative to total tile removal, and a good smell can go a long way for carpeted floors.As mentioned briefly above, a layer of fresh paint can do wonders to give a place that “brand-new” look. Plus, patching and painting is super affordable. Walls are one of the most commonly neglected surfaces in any household, and they see wear and tear over time just like anything else. By adding a new layer of paint (ideally something neutral, as discussed), you can instantly make the place look clean, untouched, and move-in ready for your potential renters.Upgrading appliances is one of the more expensive home improvement undertakings, but it is also one of the most beneficial. Renters love new appliances, not only because they look better but because they work better than old, run-down appliances. In fact, a recent survey has shown that one third of Americans consider updated appliances as the most important home feature. If money is tight, prioritize the appliances that most need upgrading. You can also consider buying secondhand appliances, which are both more budget and more environmentally friendly than buying them brand new.Many old apartments and homes still use wall or window air conditioning and heating units. This is totally fine and generally does not influence renter decisions, as long as these units are efficient and effective for cooling and heating. Replacement might be necessary if these units are outdated and dysfunctional. Additionally, Realtor Darren Robertson notes that all windows and doors should be checked for gaps and warping and fixed to address any issues. Solar panels can also be of huge appeal to renters, especially renters that are Gen Z, as recent data has shown that they value improved technology and energy efficiency in a home more than any previous generation. Investing in the energy efficiency of a home will make your property more comfortable and therefore more attractive to renters.&nbsp;7. Don’t Skip Curb AppealIt’s true what they say: it’s what’s on the inside that counts. But, when it comes to properties, the outside matters too. While we suggest prioritizing the inside over the outside when it comes to rental properties, we also believe in the power of curb appeal. Basic landscaping is an easy DIY project that doesn’t have to break the bank. You don’t need to plant rosebushes, but you do need to pull weeds, power wash dirty concrete, and trim up the hedges.Who doesn’t love extra storage space? No one is saying you need to build out an entire closet or add a garage to property (though these can add lots of value). All you need to do is work wisely with the space you have. You can install shelves or buy storage dividers for small spaces. You can replace mirrors with medicine cabinets in the bathrooms or install a curtain under the sink to create a hidden space for toiletries and cleaning supplies. The approach will vary depending on the space and the possibilities are endless, you just have to get a little creative.Finally, don’t overlook the details. Take a moment to survey the outlet covers and light switch plates throughout the property. What about the knobs on the kitchen and bathroom cabinets, the blades of the ceiling fans, or the doorknobs and blinds? These little details might seem minor but taken together they can have a huge impact on a space, so make sure you keep them in mind as well.Strange Buildings is a website about the most impressive property and buildings on the planet.Not only the bold and beautiful, but the ugly and messy as well!© 2023 by Strange BuildingsBack to TopClose

Switch to the dark mode that's kinder on your eyes at night time.Switch to the light mode that's kinder on your eyes at day time.Strange Buildings is a website about the most impressive buildings on the planet. Not only the bold &amp; beautiful, but the ugly &amp; messy as well!Strange Buildings is a website about the most impressive buildings on the planet. Not only the bold &amp; beautiful, but the ugly &amp; messy as well!Switch to the dark mode that's kinder on your eyes at night time.Switch to the light mode that's kinder on your eyes at day time.All rental properties are going to need...

Budget-Friendly Home Improvement Tips for Your Rental Property

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