No matter how long you’ve been in the rental business, you can probably agree that increasing rent would be a nice adjustment. However, if your property is out of date, you really can’t hope to do so. Regular and preventative maintenance is a must, but it’s important to remember that you still need to add some upgrades from time to time. These upgrades don’t have to cost a fortune. Just changing a few details can help add value to your property and allow you to boost rent.
Increase Curb Appeal
While renovating the front yard with new sidewalks or planting trees can get expensive, you don’t have to go overboard to make a big difference. Make sure the doors and windows are washed and given a fresh coat of paint. Replace the welcome mat as soon as the old one starts looking shabby. Add decorative touches such as hanging baskets or potted plants next to the front door. This will all help give a welcoming feel to your rental property.
Restore Your Floors
Floors are a big part of your rental property that experience a lot of wear and tear. If they don’t look their best, they can give the impression of an outdated and dirty property. If you can’t afford to replace the floors in every room, the kitchen and bathroom are a good place to start. Another option is to simply restore the ones you have. If you have hardwood floors, hire a professional to polish them and apply a fresh coat of lacquer. Re-grout your tile floors to give them a cleaner look. Finally, deep clean your carpets to add some of their old shine back.
Upgrade Plumbing Fixtures
Kitchen and bathroom fixtures such as faucets, sinks, and sprayers can get old and dingy very quickly, not to mention out of date. Currently, a shiny, chrome finish is considered standard grade so moving up to finishes such as oil-rubbed bronze or brushed nickel will add a modern feel to your property. If you have fixtures that are over ten years old they should be replaced immediately, no matter the condition. Whatever style landlords choose for their fixtures, they should all be harmonious to the home’s decor.
Install Better Countertops
Plastic laminate countertops are the lowest quality and are subject to discoloration from liquids or burns. Over time, they simply don’t hold up. Installing countertops made of granite, slate, quartz, or other solid surface materials will boost the look of any kitchen or bathroom and last a very long time. Alternatives that are a bit cheaper but still durable include acrylic/polyester components, ceramic tile, or stained concrete.