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Best Upgrades for Your Rental Property

By Anita Townes | October 30, 2020
  • A beautiful, well-maintained property is paramount to securing a potential renter. If you're searching for high-quality renters, there are a few simple ways you can attract them. Here are some of the best upgrades for your rental property. By making these changes, your property is sure to catch people's attention.

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    Upgrade Amenities

    Upgrading to high-quality, efficient appliances won't just save your tenants money, but it'll save you money, too. Pick out EnergyStar certified appliances for lower electricity bills, less frequent maintenance, and a potential tax break.

    Give other amenities a much-needed update, too. Water is a huge, reoccurring expense. Curb this cost by installing low-flow fixtures. What about the lighting? Motion-activated sensors conserve electricity. For properties with baseboard heaters, landlords should consider installing covers. Even if you're not the one paying the bills, you should still consider these upgrades. Tenants who spend less on utilities have more money to spend on rent, thereby reducing the amount of missed or delayed payments.

    Improve Curb Appeal

    Few people would jump at the opportunity to live in an unattractive, dilapidated building. Improve your property's curb appeal by painting, repairing, and landscaping its exterior. Give the exterior a fresh coat of paint. If the driveway is riddled with cracks, potholes, or other damages, fix them. You may also hire an asphalt and pothole repair contractor for this task. Is the fence falling apart? Set it upright.

    Planting flowers, bushes, and other greenery is a simple way to upgrade your curb appeal. If there are existing shrubs and trees, groom them. Is the yard devoid of grass? If you have the time, plant some greenery or add realistic-looking turf.

    Beautify the Kitchen

    Another one of the best upgrades for your rental property is a new, modernized kitchen. A modern, upgraded, and functional kitchen is a top consideration for renters. Make sure the kitchen is open, cohesive, and has a great layout.

    Renovate the cabinets to custom cabinets, upgrade with new granite countertops, and purchase top-notch appliances. For cabinets, a quick paint job can help. For countertops, go with quartz, granite, or marble—they're not only pretty but also durable. Simple design elements such as a backsplash, open shelving, or a moveable island can considerably improve your property's value.

    Ramp Up the Lighting

    If you don't have the benefit of bright, natural light, improve your property's artificial lighting instead. Proper lighting can take a room from dim and depressing to cheery, invigorating, and beautiful. There are three common types of lighting to choose from: ambient, accent, and task. Ambient lighting illuminates everything. Accent lighting highlights a specific section of the home, such as the kitchen or living room. Task lighting, as the name suggests, brightens high use areas such as countertops or bathroom vanities.

    Anita is a Realty Biz News Contributor and loves all things real estate from housing, marketing and investing.
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