Keeping up with the needs of a property can be overwhelming. Regular wear and tear occurs, and maintenance needs can add up. It can be hard to keep up with rent trends when your property is behind in upgrades. You don’t want to increase vacancy periods, so it’s difficult to prioritize what the most important upgrades are. Doing minor and major repairs can increase the value of your home drastically, so it’s important to get the most bang for your buck.
Durable Flooring: When it comes to rentals, carpet can be a landlord's worst enemy. It traps odors, frequently and easily gets stains, and is a mess with security deposit disputes. If your carpet gets damaged by a tenant, depending on how old the carpet is, you may have to cover the costs of replacing it. If you are looking for a home improvement that is worth the investment, improving your flooring is the way to go.
New Paint: A fresh coat of paint goes a long way. This upgrade is one of the most cost-effective options for home improvements. Colors can go out of style and make the house look dated. Choosing a more neutral color can help appeal to a wider range of renters and make your listings look better in pictures. A potential tenant going through a home tends to notice scratches and holes in the wall, so patching and painting a wall can help to see that the property is well-maintained.
Improve Curb Appeal: When a tenant is doing their housing search, they scroll through the listing sites and click on homes that are available for rent. What is the first picture that usually shows up? A picture of the front of the home. You want their first impression to be a positive one. The way that the front of your house looks can make or break a renter's opinion. It may be worth doing simple landscaping improvements, doing touchups of exterior paint, or making improvements to the general appearance of the outside of your home.
Refresh your kitchen: It can be costly to do a full remodel of a kitchen, so making little improvements during vacancy periods can help you to not have to do a total gut job. Some things to consider for upgrades in your kitchen include new cabinet hardware, updated light fixtures, fresh paint, new appliances, or new countertops. Be proactive by slowly making renovations so you don’t have to do it all at once later.
Update your Bathroom: The two rooms in your house that require more frequent upgrades are generally kitchens and bathrooms. You may want to consider slowly improving your bathrooms to keep them modern. Some things you can upgrade are vanities, faucets, showerheads, fresh caulking, and better lighting. Take a look at your appliances and make sure they are all functional and not too out of date.
Doing minor upgrades during times of vacancy can keep your property up-to-date and more desirable for renters. Stay in touch with current trends and make those small adjustments during vacancy periods when no one is in the property anyway to increase your potential rent. It can be hard to know what to prioritize, but you don’t have to do it alone. Reach out now to Hero Property Management for a free consultation at 801-845-4390.