Are you a landlord and wondering how you can stay on the competitive edge? It is the renter’s market, which means that tenants have plenty of options when looking for a place to rent. One slight problem in your property and your tenants may be on their way out. Did you know that one of the reasons tenants move out is poor rental maintenance? That’s why we are sharing the best home improvement tips for rental properties.
The good news is that regular home improvement for your rental properties can help you create a solid relationship with your tenants. Also, it can boost the value of your rental properties. So how do you improve your rental property?
If you are a landlord, below are the things you should do to stay on the edge of your competitors.
Top Home Improvement Tips for Rental Properties:
Create a home office
Without a doubt, a home office is one of the renters’ demands in the current rental market, and it is up to you to meet this demand. If your rental properties are spacious enough, you can transform and create a home office for your tenants.
With many considering homeschooling and working from home, you tenants will appreciate an extra space for such purposes.
Install new flooring
Upgrading the flooring is another crucial home improvement tip to put your properties an edge over your competitors. Instead of using the good old carpets, you can consider more durable flooring materials like tiles, vinyl, hardwood, or laminate.
Unlike the carpet flooring, tiles or vinyl are easy to clean and don’t require expensive maintenance on your tenants. Also, carpets can trap dirt and odors; hence, they are the least sought-after flooring material by renters.
Vinyl tiles are the leading flooring material according to Flooring America.
Remember, renovating floors on residential properties can be pretty expensive, so it is crucial to weigh it against your ROI.
Improve the rental property’s curb appeal.
The outdoor aesthetics of your rental property are crucial because it captures the attention of your prospective tenants. Update the exteriors and give them a fresh look.
You don’t need to go overboard to create a beautiful curb. Consider pressure washing the exterior walls and the walkways. A little bit of landscaping, too, can do your property some justice.
Also, you can consider renovating the pavement.
Renovate the kitchen
Appliances and other amenities in the kitchen suffer greatly from wear and tear over time. And no tenant would want to rent a house with a non-functional kitchen.
You can consider upgrading the kitchen appliances and finishes to ensure that the kitchen is functioning. Add a kitchen backsplash, spruce up the kitchen cabinets, replace the countertops and apply new paint.
Also, consider upgrading the kitchen appliances like the refrigerator, dishwasher, oven, and other appliances.
Update the bathroom
When it comes to the bathroom, people appreciate extra bathroom space. You can add space to the existing bathroom and update the finishes. Updates like adding the shelves or storage cabinets can make the bathroom more appealing.
Additionally, you can change the colors by painting and install new hardware.
Install security features.
There is nothing renters appreciate more than a secure home and neighborhood. Prioritize the security on your rentals and install security features like outdoor lighting, alarms, and home camera systems. From motion sensors, wireless cameras to high-decibel alarms, there are plenty of home security systems you can get for your property.
Add finishes to the attic and garage.
Does the garage or attic look rusty and dusty? Another rental home improvement that can boost your selling points is finishing the attic and garage.
Consider doing wall and floor finishes in these rooms, and you can storage compartments like shelves and cabinets.
Do pest control regularly.
Critters and rodents in the attic, basement, garage, or anywhere in the yard can be a renters nightmare. Consider routine extermination to keep rodents, bugs, and other pests away.