When you're in between tenants and your rental property needs to be updated it's sometimes difficult to know where to start. Here are some tips for a rental remodel that will attract today's renters and add value to your property.
2. Fix up your money maker
If you’re between tenants and your rental property needs some TLC, a few
updates in addition to cleaning could be a huge benefit to your business. Here
are six suggestions for remodeling projects that will attract today’s renters and
add value to your property.
3. Don’t go overboard
If those home renovation shows on TV have
taught us anything, it’s that remodeling
projects are exciting and rewarding.
But, remember this is not your dream home.
This is a temporary home for people who
(bless their hearts) will probably treat it that
way.
So, as much as you might like to knock
down a wall or put in a floor-to-ceiling tiled
shower, it’s best to keep it simple and just
shoot for livable and inviting.
4. Create a warm welcome
You want every prospective tenant that walks
through the property to be able to picture
themselves living there. Thus, it’s critical that the
home makes a good first impression.
Without question, the interior and exterior of the
home should be squeaky clean, so get out your
pressure washer, carpet shampooer, and scrub
brushes. Bring in as much natural light as possible
by keeping the window treatments open. You
could also paint the walls a lighter color and add
more lighting with lamps and fixtures. If that
doesn’t do the trick, consider renting some
furniture and staging the rooms to give renters a
better vision.
5. The usual suspects
When preparing a unit for a new tenant, the first things
most landlords think to address is the floors and walls. It
doesn’t sound unreasonable to re-paint and replace carpet
between every resident, but it’s not entirely necessary and
it can wind up being pretty expensive.
Before you cover up those wall smudges with another coat
of paint, try using dish soap and a wash cloth to clean them
up. Magic erasers work really well on walls too. Cleaning is
a lot easier and cheaper than repainting, and it will turn out
just as nice.
When it comes to the flooring, consider calling in a
professional for a deep cleaning or repair before you start
shopping for new stuff. You might be pleasantly surprised
by what can be done to save carpet, hardwood and tile.
6. Kitchens and Bathrooms
These two rooms can make or break the appeal of your property, so if you update anything it’s wise to
start here. Renters will appreciate new faucets and light fixtures, but new cabinets and appliances
could seal the deal. If you’re on a budget, try giving outdated cabinets a makeover with fresh paint and
modern hardware.
7. Replace faulty fixtures
For some tenants, the little things like light fixtures
and door knobs don’t matter, but with others, small
details can make all the difference. Here are some
examples of fixtures that should be replaced:
● doors that stick or don’t lock properly
● faucets that drip
● toilets that constantly run
● lighting and ceiling fans more than 15 years old
● broken or worn out cabinet hardware
● blinds with missing or damaged slats
These simple, cost-effective replacements will not
only appeal to potential residents, but reduce
maintenance requests as well.
8. Spruce up the yard
The property’s landscaping will be the first thing a
potential renter sees, so it should be cared for. If
there is any outdoor space at all, make sure that
it’s well maintained. Before a showing, cut the
grass, trim the hedges, and weed the flower beds.
A few fresh plantings might be nice, too.
Attend to any loose stairs or walking stones in the
yard or on the porch/deck. And if there’s a fence or
gate, make sure it’s all intact.
If the home’s view is a selling point, make sure
there’s nothing obstructing it.
9. Overwhelmed?
When a tenant moves out and you make
your first estimation of the work ahead of
you, try to look at the renovation process
as lots of little jobs instead of one big one.
If some of the smaller jobs aren’t totally
necessary, then leave them for next time.
Simply do your best to deliver a quality
home for the next resident.
10. Thank you.
Maintaining rental properties is a full time job, especially if you have more than
one. If being a landlord is your second job, hiring a property manager could
give you your life back!
Contact Zenith Properties NW, LLC about
managing your rentals in Clark County, Wa.
Visit ZenithPro.com today!