The real estate rental industry has become very lucrative, as well as a very competitive market for investors. Hence it’s extremely crucial for your rental property to stand out among the rest. If you keep a close eye in the needs and specifications of the targeted audience, you can have the edge over the competition.
A highly maintained and renovated property can attract quality and premium renters, but it’s not so easy to renovate a property. Here are some cheap renovation ideas that will help you boost up the look of your property to attract premium buyers and renters.
Upgrading the Faucets:
The bathroom is one room in the house that is inspected through a microscope. Almost half of the American population is obsessed with having luxury bathrooms. From the state of the bathroom, the renters can assess the entire house, so your first target should be your bathroom.
Changing the faucets only will perk up your bathroom considerably. Remodeling the whole thing can be a huge challenge, but changing a few things here and upgrading a few things there will make your bathroom look exceptionally well maintained. Change the shower and the faucets, the new gleam will make your bathroom look well kept.
Fresh White Paint:
With white, you can make any room look bright and fresh. Give your old property a fresh coat of bright white paint and make it look crisp and clean. White gives the on-looker a feel of serenity and calm. You can also make your closed and compact rooms look bright and enlarged.
Tiling:
Between the cheapest (linoleum) and the most expensive (laminated) flooring, landlords have a way out that sits well with the renters. Tiling is the perfect option, it’s economical, and it is also liked by many renters. To give our place an instant upgrade, you only have to change your old flooring to brand new tiling. It’s the perfect middle ground that will help you make your place look upgraded.
Dark Grout:
You may love the white grout but the fact it’s hard to clean as well as maintain. Mold and fungus follow white grout. The best way to go is dark grout; it keeps the lines clean and doesn’t accumulate gunk as white does.
Immaculate Paint Job:
If you are getting a fresh coat of paint, make sure your handyman does the best job. Although a fresh coat of paint can make your place look great, it’s a bad job, and you might just get an adverse effect. A bad paint job can seriously dampen your chances of renting the house.
Upgraded Kitchen Cabinets:
Upgrading your kitchen cabinets is one thing that will really perk up your house. Most houses have Honey oak cabinets; they are used and do nothing to make your place look pleasant. Replacing the cabinets with a modern design will make your house more appealing to the potential renters.
Upgrading the Light Fixtures:
Ample light can make your house look cleaner and spacious. But make sure you get rid of gaudy and loud light fixture and replace them with a low profile and simpler ones. Renters seem to love light and simple fixtures than the pompous ones that are hard to maintain and clean.
Carpeting:
Having carpeting in your rental property is a huge no. You have no idea how the last tenant treated your carpeting, you don’t know how many germs and microorganisms are living in that carpet, it may look great, but it may not be great. Your potential renters can be allergic to carpeting; hence you might lose a premium renter over just one silly thing. They are hard to maintain and clean, so your property is better off without one.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
