As a landlord or property manager remolding your rental property, sometimes it’s easy to forget to think about your upgrades in terms of what your tenant wants. Durable, affordable renovations can look great and please your tenants, helping your rental profits and property values in the long run.
Here are a few suggestions for keeping your tenants in mind while renovating your rental property:
Use quality paint.
A common paint job in many rental units is a flatter beige color that isn’t necessary the most pleasing on the eye. While this style of paint is easy to touch-up and conceals marks and wear quite well, there may be better options for pleasing tenants while maintaining durability.
Consider easy-to-clean hi- or semi-gloss paints. This way, you can opt for a color closer to white while making it easy on your tenants to keep the property looking clean and shiny like they want it.
Your tenants will appreciate the effort and the property will look fantastic.
Opt for beautiful, durable flooring.
Sheet vinyl may be your go-to when it comes to flooring in your kitchen and bathrooms. Its cheap and fairly easy to replace. However, your tenants understand that you’re going for the cheap option, because it often looks like it.
Similarly, carpeting in rentals can look worn fast and be unappealing for renters.
There are many other types of flooring that are relatively affordable and can elevate the status and value of your property. For example, consider tile or luxury vinyl tiling, which can be simple to install and a lot more durably than generic linoleum. It can also look fantastic, like real stone or wood flooring. Plus, many alternative flooring options can absorb sound almost as well as carpet, making them an option even in a multi-family unit.
Upgrading your floors beyond the standard won’t just please and attract tenants: it will elevate your property values and can even allow you to charge higher rental fees.
Install quality fixtures.
One easy way to give your kitchen and bathrooms a renovated look for low cost is by simply installing new fixtures like faucets and cabinet knobs or handles. No one wants to move into a home or apartment with worn, water-spotted bathroom fixtures that clearly are a decade or so old.
Giving these fixtures an upgrade can be enough to give your property a fresh feel that tenants will appreciate.
Consider clean-up.
When renovating your rental’s kitchen, take some time to think about how your tenant will go about cleaning. You want to make their chores as easy on them as possible because doing so means your property stays looking nice and cared for.
That means installing features that your tenants can easily work with. For example, go for dark grout in the kitchen and bathrooms. Grout is difficult to clean as it is: white grout refuses to look clean.
Also, install sensible, muted back-splashes along the counter-tops that are durable and easy to wipe down.
Your tenants may think they want white cabinets, but these are especially hard to keep looking clean. You can go for finishes that aren’t just a generic honey oak but still look great with any décor. Consider a darker stain with a modern look.
Don’t forget lighting and ceiling features.
Finally, you want to install lighting features that your prospective tenants can all agree on. There are many opinions about what constitutes an elegant lighting fixture, but your best bet is to go with simplicity. A simple circular covering is non-offensive and can go with anything.
Where possible, provide a switch-operated outlet so tenants are encouraged to provide their own lighting. This way, you don’t have to do any lighting maintenance and your tenants can customize their lighting how they want with lamps and alternatives.
Leave ceiling fans out as well, since many renters do not like them. And avoid a popcorn-textured ceiling whenever possible. Your tenants will appreciate it.
Tenant-friendly renovations aren’t just good for your renters – they’re good for profits.
With attractive, durable, high quality renovations that tenants will find lovable and easy to maintain, you will keep vacancies low, tenant retention high, and your property values rising. This allows you to charge higher rent as you establish your property, maximizing your long-term profits with a property your tenants will love renting.
For more information on rental remodels and maximizing your returns, contact 208.properties today.