Landlords looking to rent out a property and agencies specializing in property management services prioritize finding responsible and reliable tenants. One way you can ensure you attract quality renters is by remodeling the rental unit.
The functionality and appearance of your property will be an essential factor in attracting the right kind of tenants. That is true, especially if you are looking for stable, long-term tenants to build a long-lasting relationship. Elite Remodeling suggests a few updates to your rental property which will make the unit stand out.
1. Amp Up Storage Space
A designated storage area is a feature that is relatively simple to add yet universally considered highly desirable by tenants everywhere. Upgrading your property with extra storage space will garner some positive attention. It could be a kitchen pantry or a closet for discreet storage of other household supplies.
Even if there’s not enough space for a whole separate room, you should still consider adding some more cabinets to the kitchen and bathroom. That is because these areas are notorious for their chronic lack of storage options.
2. Spruce Up the Kitchen
In the modern world, the focus of family life has shifted to family meals. That is because countless screens of our individual computers, tablets, and phones have taken the place of single-family TV sets.
Therefore, the focal point of the house has also shifted from the living room into the kitchen. For this reason, kitchens have started getting bigger and more comfortable. Your future tenants will appreciate the addition of comfy chairs, but if you want to make an impression, change the faucets, light fixtures, and cabinets. It is a relatively inexpensive update that can attract quite a bit of attention if you do it right.
3. Redo the Bathroom
When browsing potential homes, most people will focus their attention on the bathroom, second only to the kitchen. If the bathroom doesn’t look clean and well-maintained, potential tenants may decide to walk away.
However, bathroom remodels can be very expensive. If there’s nothing wrong with the existing infrastructure, you may be better off focusing on impactful details. One vital tip coming directly from home remodelers is to choose darker grout color for the bathroom tiles. White grout will inevitably change color and darken somewhat. Trying to keep it white is exhausting, time-consuming, and ultimately futile. Start with darker grout and save yourself and your tenants time and effort.
Reglaze the bath or the shower, especially if it’s been a while since you last did it, and it looks worn. The method is an inexpensive upgrade, and the results can be outstanding. If you swap out the showerhead, the faucet, and other fixtures, your effort will be worth your while.
4. More Natural Light
If you are gearing up for a serious home remodeling project, you should make functionality your top priority. Do not yield to the temptation of having cosmetic renovations. Instead, make your effort count by ensuring that each change you make gives you a visible and practical advantage.
One of the most sought-after features people look for in homes is access to natural light. Adding new windows or making existing ones bigger can be an effective way to make a piece of property look more appealing and feel more spacious. Properties with massive windows and more natural light consistently fetch higher prices in the rental market.
Adding new windows with better insulation properties is an excellent investment in the long run. It can reduce the heating and air conditioning costs, making your property less costly to maintain.
5. Touch Up the Paint Job
One of the easiest and simplest things you can do between two tenants is repainting the property. Some remodelers claim that there is a sanitary aspect to repainting the property before finding a new tenant. Whether you subscribe to this idea or not, touching up the walls may be beneficial in other ways.
Case in point, if there was any damage done to the walls or the paint, fixing the damage will necessitate a paint job. Similarly, if a tenant resides in the property for a while, the wall paint will become dull. A fresh coat of paint can work wonders. It can make the property more inviting and give it a clean, fresh feel.
6. Something Out of the Box, But Functional
To make your property stand out, you need to do something out of the ordinary to make the space feel personal and unique. Just make sure that this addition also boosts functionality and has a practical application.
A French door is an excellent example of an attractive, innovative feature. It is also unique and functional, as it brings in more natural light. If you want a more tech-savvy approach, how about the increasingly popular smart home features like smart thermostats and light fixtures?
Once you are through with the tweaks and renovations, it means you are ready to market your property to prospective tenants. At this stage, hiring a property management company will help you make the most of your investment. They will ensure that quality applicants spot your property.