Tenants search for the most desirable properties they can afford that won't break the bank. With this in mind, it might be time to consider renovating your outdated property to attract new tenants. Moreover, it is vital to keep the needs of the tenants in mind and stick to your renovation budget. Making some simple and budget-friendly renovations can help you attract more tenants than ever.
Here are some of the best renovations to consider for your rental property.
Install new light fixtures
Your home might be looking outdated with old light fixtures. Installing new lighting can make your home feel bright, and will make the interior spaces look more contemporary and appealing. When choosing lighting styles and design, stick to basic styles - they will cover a broad range of tastes.
Making some cosmetic improvements to your property can help you to attract the attention of new tenants. If the paint on your walls looks dull or marked, repaint them with bright or calming colours. Also, consider replacing the carpets if they are worn out or heavily stained.
The curb appeal of your house is also vital for tenants as any new visitor first looks at your property from the outside. Native plants and mowed lawns will add value for potential tenants. If the outside of your rental property is appealing, the new tenants will consider checking out the interior.
If you have limited storage space in your home, look at creating some more space. The lack of storage space leads to clutter in the rooms which nobody wants in their house. Creating adequate space for storage can be one of the best renovations for rental property. Visit home retail stores like Ikea for modern storage solutions at affordable prices.
Kitchen and bathroom fixtures
Landlords will usually ignore taps, showers and kitchen fixtures but these things really matter for tenants. Replace the kitchen and bathroom fixtures with new faucets, showers and holders. New tenants notice these things when they visit your property for an open house. Also, repair any defects in the walls like holes and cracks.
Furniture and appliances
Upgrading furniture and appliances is an important consideration for any home improvement if you rent a furnished home. You can look for furniture in your home that needs repairing and polish them to offer a new look. Also, check broken appliances and repair them before showing your home to any new tenants. Replace appliances that are non-functional beyond repair.
Cleanliness is not only a part of our property maintenance tips but a regular home care routine. Some people make the mistake of not cleaning their property until a new tenant visits to see it. Even if no tenant is living on your property, you should maintain the cleanliness of your home by cleaning it at least twice a week. Routine cleaning ensures that you can show your rental property to new tenants any time with confidence.
Maintaining your rental property is not difficult, but you need to check the major and minor imperfections and repair them at the right time. The tips given in this post are the best renovations for rental properties that every owner should consider to maintain a rental property.
For more landlord advice, sign up to our newsletter below!