10 affordable ways to upgrade your rental property

  1. 12 Cheap Home Improvements Under 0
  2. 1. Paint
  3. 2. Change Out Flooring
  4. 3. Patch the Roof
  5. 4. Add Smart Home Tech
  6. 5. Bring in a Bar
  7. 6. Resurface Cabinets
  8. 7. Add a Backsplash
  9. 8. Add Office Space
  10. 9. Finish the Garage
  11. 10. Replace Hardware
  12. 11. Update the Light Fixtures
  13. 12. Add Curb Appeal
  14. 19 Affordable Ways to Increase the ROI of Your Rental Property Today
  15. 1. Re-evaluate Your Rental Application Fees
  16. 2. Offer a Furnished Rental Property
  17. 3. Use In-Unit or Community Coin-Operated Laundry
  18. 4. Allow Pets on Your Property
  19. 5. Scrub and Shine
  20. 6. Consider Home Tech
  21. 7. Advertise a Bedroom as Potential Office Space
  22. 8. Offer Additional Storage Space
  23. 9. Implement Late Fees
  24. 10. Add Extra Occupant Fees
  25. 11. Pack a Punch with Paint
  26. 12. Update the Flooring
  27. 13. Finish the Garage
  28. 14. Replace Kitchen, Bathroom, and Door Hardware
  29. 15. Boost Curb Appeal
  30. 16. Update Old Light Fixtures
  31. 17. Replace Old Kitchen Appliances
  32. 18. Include a Utility Service
  33. 19. Do Competitive Research
  34. Get Help Managing Your Phoenix Rental Property
  35. Affordable Ways to Upgrade Your Rental Property
  36. Professional Carpet Cleaning or Floor Buffing Service
  37. Fresh Coat of Paint
  38. Replace Fixtures
  39. Update Appliances
  40. Simple Landscaping Improvements
  41. Need a Quality Local Property Management Company? Call the Experts at DKRentals.net
  42. 10 Easy Rental Upgrades You Can Do (And Take With You When You Move)
  43. 1. Add a rainshower head to your shower
  44. 2. Upgrade your bathroom vanity lighting fixtures
  45. 3. Add a smart thermostat
  46. 4. Replace the bedroom light switch with a dimmer
  47. 5. Add more lighting in your closet
  48. 6. Upgrade to a cool kitchen faucet
  49. 7. Choose modern window coverings
  50. 8. Trade out old wall outlets with smart ones
  51. 9. Mount wireless speakers in every room
  52. 10. Swap out kitchen hardware and knobs
  53. 6 Minor Rental Property Upgrades That Attract Tenants
  54. 1. New Cabinet Handles
  55. 2. Attractive Faucets
  56. 3. Upgraded Flooring
  57. 4. Colorful Tile Stickers
  58. 5. Modern Light Fixtures
  59. 6. Basic Security System
  60. Amenities Can Be Effective Without the Cost
  61. Related Reading For You:

12 Cheap Home Improvements Under $500

10 affordable ways to upgrade your rental property

There’s no denying that renovating a home from the studs to the ceilings can be pricey. Even renovating a single room can be a budget killer. But if you’re wanting to upgrade your space, cheaper options can still make a big impact.

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This goes doubly for real estate investors, who need to make big impacts on tiny budgets. Sometimes there’s no time for a full renovation! And if the home’s HVAC unit is shot, you may not be able to afford rejiggering floor plans and other major home improvement projects. But that doesn’t mean you can’t give your new property a tenant-approved makeover.

Here are 12 cheap home improvements—all costing $500 or less.

1. Paint

You may not be able to paint a whole house for $500, but you can enhance key rooms, update the entryway, and create accent walls. According to Good Housekeeping, this year’s color trends include browns, jewel tones, and greens.

But that doesn’t mean the perennial popular queen of the color ball, plain old white, is style. If you’re struggling to pick a shade, it’s amazing what a crisp, clean coat of white paint can do. Give it a shot—you might be shocked to see your whole space spruced up with only a fresh coat of paint.

Don’t skip the crown molding and baseboards. These small strips can get dingy quickly—and repainting them is super simple.

Other places to consider painting include brick fireplaces—especially if they’re tan bricks, stairs, and fences.

2. Change Out Flooring

There’s a few caveats to the under-$500 limit for this DIY.

  • You gotta DIY it. Bringing in a contractor pretty much ensures you'll go way, way over budget.
  • Your space needs to be small. Even the cheapest flooring materials add up when you consider the cost across an entire house—or even a large room. This is a good project for a small bathroom whose existing floor is old and ugly.

For a 5′ by 8′ bathroom, inexpensive porcelain tiles (installed by you) might squeeze under the $500 limit. Downgrade to vinyl and you can cover even more space. Does vinyl make you wrinkle your nose and think of your college frat house’s bathroom? Things have changed since the ’90s. Today’s vinyl is durable and attractive.

And if you're renting out the house, that durability is key. Hardwood in rentals needs more frequent refinishing, and even tile can get scratched and damaged. Sturdy vinyl withstands renters' damage… and if you do need to replace it a few years down the line, it’s not that pricey.

This quick upgrade can improve the rent you can ask, too. Putting new flooring in small entry areas and bathrooms or replacing the carpet in that one ugly bedroom could help you rent the space quickly and for more money.

3. Patch the Roof

While roof repair won’t bring you immediate, visual joy the same way a new faucet or can of new paint will, it’s an essential and inexpensive repair. And amazingly, it can be done for relatively cheap, especially if you’re willing to get on the roof (safely) and fix the problem yourself.

Roof leaks can cause major havoc. They can quickly deteriorate your house and cause ballooning repair bills. If you rent out your property, they add to the maintenance interaction burden with tenants and can damage renter belongings—which you may be on the hook for.

In many cases, you don’t need a new roof, just patches. Some handymen may be able to do this repair quickly and inexpensively, too.

Pro tip: Some roof damage is simply too widespread to handle with a quick patch-me-up. If you’ve recently endured a hail storm or the roof hasn’t been replaced in decades, you might need to replace the whole thing. In the case of damage, your insurance may help you pay.

4. Add Smart Home Tech

Want to feel you’re living in a whole new house? Maybe you just need some technological upgrades. Consider smart locks, a programmable thermostat, or improved WiFi—a mesh network is a genius solution for properties with dead spots, the basement. These small updates will make your home work more smoothly.

Plus, if you're renting out the property, potential tenants will be thrilled by these upgrades.

Just keep in mind that installing smart technology and then renting out your house can leave you responsible for that technology, depending on the way your lease is worded.

If you don't want to be on the hook for replacing a $250 Nest thermostat, make sure to spell your expectations out in the lease. (As always, an attorney review is helpful.)

5. Bring in a Bar

Here’s a fun one: Use your small home improvement budget to create a place to relax. You may be able to expand countertops or bring in a standalone bar, which really adds to the excitement and emotional appeal of a place.

There are a few ways to do this cheaply. IKEA cabinets are inexpensive—especially if you have a flexible space and can purchase used cabinets via Craigslist or at a Habitat for Humanity ReStore. A single piece of butcher block countertop isn’t terribly expensive, either. Dress up the space with a nice wine rack or coffee maker (pick your poison!) to create a new hub of the home.

6. Resurface Cabinets

Yes, a full kitchen reno is way outside of that $500 limit. Sorry. But that doesn’t mean you have to keep a dated kitchen. Resurfacing cabinets is an inexpensive option—and it can be as simple as a new coat of paint.

Keep in mind that resurfacing kitchen cabinets isn’t as simple as putting paint directly on the existing cabinet.

You may need to strip any sealant and clean with TSP before you start painting or staining the wood.

And make sure you seal your cabinets properly once you’ve finished—the kitchen is a messy, oily place, and surfaces can easily be damaged. That goes double if you plan on renting your property.

7. Add a Backsplash

Here’s another easy way to upgrade a kitchen inexpensively: Add a backsplash. While your limited budget means elaborate, super-trendy decorated tiles are the question, you can absolutely throw up a simple subway tile backsplash. Subway tiles even come in fun colors, if you’re looking for a bit of pizzazz. Peel and stick backsplashes are growing in popularity and durability, too.

Kitchen backsplashes can make a massive difference in the appeal and perceived value of a home. And there’s another benefit, besides visual appeal: They protect your wall from damage.

That’s why you commonly see backsplashes behind kitchen sinks—they protect splashed water from damaging drywall and studs.

Same goes for behind the stove, where grease splatters can damage the paint and become impossible to clean.

8. Add Office Space

Thanks to COVID-19, working from home is the new norm. But remote workers quickly find that working from the sofa isn’t as effective as they expected. Why not add a cozy space to work?

One option is simply converting an unused bedroom into a home office. However, if you’re renting out the house—or simply tight on space—you may not want to reduce bedroom counts.

Create flex space through the creative uses of cabinets, pantries, or Murphy beds. Convert storage space into functional space. (Just don’t forget to seek out alternative storage solutions elsewhere.

) Create dual-use spaces that enable quick changes between daily living and work.

9. Finish the Garage

Finished garage spaces add a big “wow” factor and more value. Even on a tight budget, you may be able to finish walls, add flooring, install storage, or put in office furniture.

Alternatively, consider adding some shelves, pegboards, and storage so a potential renter or buyer could utilize the space as a workshop. Everyone can easily visualize filling a garage with cars—why not help them understand its multifunctionality?

If there’s already plumbing near the garage, you may be able to add a sink or even an enclosed quarter bath. This can be useful for dog owners, who want to wash their dogs after a muddy walk without trekking dirt through the house.

10. Replace Hardware

Replacing front door and cabinet hardware can have one of the best returns of any home improvement. And it’s one of the easiest changes to make—all you need is a screwdriver. Most hardware includes instructions and a template that make installation even easier.

It’s surprising how much this small change can do. Installing hardware in the same color or metal throughout the whole house makes the space feel cohesive. Stainless steel or nickel finishes are the best blend of affordability and attractiveness, especially if you’re trying to appeal to renters.

If you’re simply updating the home for your own enjoyment, feel free to suit your own tastes. Door hardware is available in a wide variety of colors and styles. You can find everything from mosaic glass to shiny bronze.

11. Update the Light Fixtures

Outdated light fixtures can bring down the vibe of an entire room. And “boob” lighting—your standard flush-mount fixture—may be popular, but it can feel rather institutional. Consider swapping for a ceiling fan, especially in rooms that get warm. Lighting stores sell inexpensive but modern fixtures that increase the attractiveness of a whole room.

Don’t want to deal with swapping out fixtures? Here’s an easier (and even cheaper!) upgrade: Change the bulbs. Soft or warm white bulbs, around 2700 Kelvin, can help a space feel cozier and more welcoming.

12. Add Curb Appeal

Wow your visitors and potential tenants right away by improving your home’s curb appeal. This project is easily done on a budget, and can be as small or as large of an endeavor as you prefer.

Refinish the patio or deck, add a bench in the garden, or even just swap out the house number. Little pops of color make a big difference—try painting the door a fun color. Even just installing a new mailbox can help your home feel more welcoming.

You don’t need a big budget to enact changes that feel big. If you can’t afford a home makeover right now—or need to rent out your place stat—these inexpensive fixes can have major returns.

Which of these would you consider implementing on your rental? What would you add to this list?

Let us know your thoughts with a comment.

Источник: https://www.biggerpockets.com/blog/home-improvements-500

19 Affordable Ways to Increase the ROI of Your Rental Property Today

10 affordable ways to upgrade your rental property

A Phoenix rental property is an ideal investment to help you supplement your income or create a full-time living. However, for Phoenix rental property managers, it might feel a mystery on how to increase revenue.

With the average rent of a three-bedroom home in Phoenix coming in at $1,319 per month, there are many ways to improve your return-on-investment (ROI).

Here are 10 ways you can keep more money in your wallet while maximizing revenue from your rental property. This includes tips for making passive income, charging more rent, and money-saving actions.

1. Re-evaluate Your Rental Application Fees

Application fees are used to deter renters who might not be serious about your property. It is meant to cover the cost of background and credit checks, and can increase rental revenue in the long run by identifying ly high-quality tenants.

Running these reports can bring up red flags of renters who might be a risk for your Phoenix rental property. Since you can view credit reports, employer checks, and past landlord checks, it can allow you to weed out otherwise undesirable applicants.

In Arizona, landlords are allowed to charge a rental application fee with no cap.

2. Offer a Furnished Rental Property

With the rise of millennial renters, a furnished rental property is one of the most sought-after amenities. It’s useful for those who might be trying out a new city for a year or two to see how it fits their lifestyle.

Residents view it as a cost-effective solution for a rental property since they won’t need to buy furniture or pay a moving company.

There are several affordable sources for furniture, including Ikea and even Amazon. You don’t necessarily have to invest in Pottery Barn or other high-end furniture selections. However, consider the price point of your property rental. Renters who are spending well above the average rent price will ly expect nicer furniture.

For a long-term rental, you can get up to 20% more monthly rent for furnished vs. unfurnished properties. If you are renting for the short-term, you may get up to 50%. You may also justifiably charge a higher security deposit if the rental is furnished.

3. Use In-Unit or Community Coin-Operated Laundry

On-site laundry is another way to maximize revenue for a Phoenix rental property. There are two options to consider: coin-operated community laundry or a washer and dryer inside the unit.

If you choose a community laundry room, it can serve as a passive income for you and convenience to tenants. The earnings from the machines can cover upkeep and maintenance costs as well.

With an in-unit option, this provides another opportunity to charge higher rent prices. Furthermore, since it can help satisfy tenants, they may agree to sign longer leases which keeps your property filled longer.

4. Allow Pets on Your Property

Allowing pets on your property can help widen your potential tenant pool and increase your monthly rent cost. Some landlords charge an additional $25 per pet on the premises, which can add up to $300 in one year for just one pet.

5. Scrub and Shine

Cleaning is an easy and low-cost option to help maximize your property value. How so? Everyone expects to rent a fresh and clean home, but a thorough deep clean could really help your property sparkle and stand out from other rentals in the area.

Luckily, cleaning your rental home is as easy as gathering supplies and spending a few hours using elbow grease.

You can get the job done with items that you probably already have on hand. Collect a pile of old rags, a bucket, a brush with a handle, and a cleaning solution. You can even make your own cleaning solution with some DIY efforts. This is a list of 10 DIY cleaning solutions, from pet stain removers to oven cleaners, by Martha Stewart.

If your home has carpet, it’s important to keep this clean as well. You can rent a steam cleaner to clean the carpet yourself or hire a pro.

6. Consider Home Tech

Home tech devices are trendy right now, including items such as Alexa and Google Home. These technologies allow voice activation so renters can control lighting, adjust the thermostat, and open and close a garage door.

This is more of a luxury than a necessity. However, those who appreciate the technology might be swayed in your direction for this small investment. Not to mention, it can help you stand out from other competing properties.

7. Advertise a Bedroom as Potential Office Space

Remote work has grown by 159% over the last 12 years. This means that more people than ever before are working from home, especially with the recent changes in response to Covid-19. Advertising a bedroom as a potential office space can showcase opportunities for remote workers.

If your potential office space has windows with a view, all the better. Having a dedicated workspace at home will allow your tenant to have a peaceful and productive work environment.

8. Offer Additional Storage Space

Storage space is important to renters. Some small ways you can maximize storage space is with a built-in closet organizer. This is a cost-effective approach and easy to install.

Some Phoenix property rental managers can make extra money if they have an off-site location for extra storage. For example, cleaning out an unused garage can allow tenants to store items there for an additional fee.

Once the lease is up, the tenant will think twice before moving because of the extra stuff they have to haul from storage.

9. Implement Late Fees

No landlord wants to hassle with late payments, but the reality is that it happens to many Phoenix property rental managers. Implementing late fees can help ensure that tenants make timely payments. Consider charging a percentage of the monthly rent cost to implement as the fee.

10. Add Extra Occupant Fees

If another adult moves into the rental property after the lease is signed, an extra occupant fee should be enforced. Remember to update the terms of the lease and revise the difference in the amount that you decide to charge, such as $50.

11. Pack a Punch with Paint

Paint is one of the easiest ways to transform a space, making it feel fresh, clean, and up-to-date. This is attractive to tenants, especially when you update your rental with trendy and soothing colors.

Since paint color choices can vary so widely, stick to the safe side and choose neutral paint colors. Neutrals include beige, gray, brown, white, and cream.

12. Update the Flooring

Another way to quickly freshen up your rental space is by updating the flooring. Outdated flooring can quickly drag down the appearance and perceived value of your rental space.

Keep your budget in check when you want to get the maximum value from this project. Some of the most affordable flooring includes vinyl tiles, laminate, tile, and carpet.

If you want your rental to command even higher rent rates, consider adding hardwood alternatives, such as engineered hardwood or bamboo flooring, which are not only modern and attractive, but also easy to clean and hold up well through years of residents.

13. Finish the Garage

Don’t leave your tenants yearning for more storage space. Finish your unused garage and add functional items such as storage shelves and hanging hooks for gardening tools and bikes. Make sure you finish off the look by finishing the floor as well as the walls.

14. Replace Kitchen, Bathroom, and Door Hardware

Replacing outdated and dingy hardware can bring a new sense of pizzazz to a kitchen. Dazzle potential tenants by choosing from an array of hardware options available, ranging from sleek bar pulls to round knobs with intricate hand-painted designs. This is a fast and easy way to spruce up cabinets and doors without the need to paint or stain.

15. Boost Curb Appeal

A Phoenix rental property must have standout curb appeal to help catch the eye of potential tenants. Lackluster or unkept curb appeal can easily sway tenants to look at other properties instead, but the good news is you can fix this with a low investment.

Make sure any plants are pruned and trimmed. If the landscape looks bare, consider adding some plants that perk up Phoenix rental properties. Such plants include Red Bird of Paradise, Cape Honeysuckle, Pygmy Date Palm trees, Deer Grass, or a Bougainvillea vine.

If you own an older income property, consider power washing it to freshen up the exterior.

And don’t forget to touch up the front door. Consider a fresh coat of paint and updating the door hardware to freshen up a weathered exterior.

16. Update Old Light Fixtures

Bringing in new light fixtures to your rental property can be a bright idea. While retro and old light fixtures can bring a vintage vibe, remember that a lot of tenants are looking for a modern Phoenix rental property to call home.

Just landscaping, replacing light fixtures can be a quick and easy fix especially if you install it yourself. You can find plenty of options from big box hardware stores that will showcase your rental property in a whole new light.

Also, adding light fixtures to the bedrooms will appeal to tenants who don’t want the hassle of buying lamps to light the room. This convenience can add to your edge over other rental properties and apartments in the area.

17. Replace Old Kitchen Appliances

Old appliances can be inefficient and cost money to upkeep — not to mention the increase in utility bills.

The energy use of an old refrigerator is halved every 15 years. Not only does replacing old appliances help with electricity costs, it also improves the appearance of your kitchen and gives tenants a clean slate for cooking.

18. Include a Utility Service

Speaking of energy bills, including a utility service can be an attractive feature for tenants. You can choose to pay the monthly electric or cable bill, or perhaps water and sewage. This is attractive to tenants who might be on a budget or looking for a reason to choose your property over the competition.

19. Do Competitive Research

It’s always smart to scope out the local competition. You can find out what other landlords are offering tenants, their pricing, and what you can implement to make your own property standout.

Take note of how the competition justifies their fees. Do they offer amenities that you don’t have? Use their properties as inspiration to one-up the competition and snag long-term tenants.

Get Help Managing Your Phoenix Rental Property

While managing your own rental property might sound a cost-saving option in the short-term, the reality is you might not have the time to invest to do things right.

A professional property management team, on the other hand, will have the experience to efficiently take care of management tasks and relationships with local vendors to get the best prices on any services or tools needed to keep your property in prime condition.

Brewer and Stratton Property Management offers Phoenix income property owners professional property management services with 0 upfront fees and a 12-month leasing guarantee.

Contact us today to get help with managing your rental property.

Источник: https://www.brewerstrattonpm.com/affordable-ways-to-increase-roi-rental-property/

Affordable Ways to Upgrade Your Rental Property

10 affordable ways to upgrade your rental property

Owning rental homes can be extremely lucrative, but many landlords make the mistake of over investing in expensive renovations without seeing an increase in monthly rental income. It can be hard to increase the appeal of the home without going over budget.

Tenants want to feel comfortable and proud of their living space, but at the same time, they aren’t ly to care for the property as well as they would if they were homeowners. Thankfully, there are many affordable ways to take your rental houses to the next level without spending a fortune.

Not only will these simple upgrades allow your house to become more competitive with nearby rental properties, you might be able to charge a higher rent and it could increase the overall value of the home when you decide to sell.

Professional Carpet Cleaning or Floor Buffing Service

Replacing carpets and hardwood floors can add up quickly. Unless the previous homeowner or tenant has severely stained the floors, most of the time they just need a little freshening up.

Hiring a professional carpet cleaner or floor buffing service can work wonders. Your floors will look fresh and new, and it will only cost you a few hundred dollars at most.

Best of all, you won’t worry about having to hire an installation team that could possibly put you behind or cost you an extra month of rent.

Fresh Coat of Paint

Have you invested in a home with outdated or outrageous taste in décor? You might be surprised how much a simple coat of fresh paint in a modern color can give your entire rental property an instant facelift. If you’ve had tenants that had children, pets or were heavy smokers, a little paint can go a long way in repairing the damage.

Replace Fixtures

Renovating a bathroom or kitchen can cost tens of thousands of dollars. Adding new tile, backsplashes, flooring, plumbing and countertops isn’t always necessary. An easier, and more affordable way to add some modern appeal to your property is by simply switching out the fixtures.

Replace old faucets with something sleek and modern. Get rid of the old green, pink or beige tinted sinks and bring in a stainless steel or ceramic model.

You can also get the same dramatic effect by changing out the old, worn out light fixtures with some beautiful new ceiling fans or minimalist track lighting.

Update Appliances

Updating your appliances can make a huge difference in the appeal of your rental home. Keep in mind that the family that moves into your home will be cooking every day, and they will feel much better if they know they won’t need to worry about the need for constant repairs.

Also, swapping out a dingy off white refrigerator and stove with a mid-priced stainless steel version from a local hardware store won’t cost as much as you might think. Check for sales in your area, or items that are on clearance because of minor dings.

Most of the time, these slight defects won’t affect the quality of the appliance and can’t be seen when installed anyways. For less than a thousand dollars, you might be able to make your old kitchen look brand new.

If you can’t afford to replace them all at once, just choose one item at a time between tenants and in a few short years you’ll have a completely updated kitchen.

Simple Landscaping Improvements

Landlords often neglect the importance of landscaping. However, it’s important to consider that the quality of your property’s curb appeal is dependent on the condition of your trees, bushes and grass.

If you have overgrown bushes, heavy tree limbs leaning too close to the roof or a patchy front lawn, many renters might not even care to look at the inside.

The landscaping may be considered a reflection of how well the property owner maintains the house overall, and many aren’t willing to sign a long-term lease for a home that seems neglected. Hire a local landscaping company to mow and prune your trees and bushes.

Lay down some grass where needed and plant some pretty flowers. It won’t cost a lot of cash or take very much time, but it could make a big difference in the number of interested tenants.

Need a Quality Local Property Management Company? Call the Experts at DKRentals.net

Today’s landlords juggle a lot of responsibilities. Many have other important investments to manage or must balance heavy demands from their job or family.

Imagine how much freedom you could gain if you had a team of experienced professionals handling day to day tasks marketing vacant properties, screening potential tenants, making service calls for maintenance issues and collecting rent payments. Call DKRentals.net today and find out what we can do for you.

Источник: https://dkrentals.net/affordable-ways-upgrade-rental-property/

10 Easy Rental Upgrades You Can Do (And Take With You When You Move)

10 affordable ways to upgrade your rental property

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 A lot of renters settle for an outdated, boring space until they can move into the home of their dreams.

Good news, renters: you don’t have to! Here are some easy rental upgrades you can complete yourself (or with just a little help) in no time. Even better: you can take these upgrades with you when you move!

1. Add a rainshower head to your shower

Georgeclerk / Getty Images

Want a total spa experience? Swap the old rental shower head for a luxurious rainshower style. Installation isn’t difficult; it should take less than half an hour.

According to Planit DIY, simply unscrew the old shower head, add some teflon tape around the threads, and screw the new rainshower fixture on.

Remember to turn the water main off first, and save the original shower head to put back when you move!

2. Upgrade your bathroom vanity lighting fixtures

Mirjana Ristic / Getty Images

Bathroom vanity lights are affordable and easy to install. Visit your favorite home improvement center for the best variety.

Most come with easy-to-follow instructions on how to install them, but, if in doubt, hire a licensed electrician. It should take a professional no time at all to complete this bathroom upgrade.

Want to take it to the next level? If you can remove the existing mirror easily, replace it with a coordinating mirror to tie in your new lighting fixture.

3. Add a smart thermostat

Maskot / Getty Images

The latest smart thermostats keep your home comfortable, and save you money by regulating temperature throughout the day. They’re easy to install, and can often be switched on or off remotely via a smartphone app.The Amazon Ecobee comes with Alexa voice and room sensors, making adjusting your home’s temperature as easy as telling it what you need.

4. Replace the bedroom light switch with a dimmer

Tisomboon / Getty Images

Create a high-end, restful bedroom (and add a little atmosphere) with something as simple as swapping out the light switch with a sliding light dimmer. Adjustable lighting makes a huge difference in the ambiance of your bedroom.

5. Add more lighting in your closet

fiphoto / Getty Images

Make your closet more functional by adding lighting. Track lighting, under-the-shelf LEDs, or even a brighter ceiling light makes it easier to find what you need.No electric outlets available? Install battery-powered LED lights. The battery life is long, thanks to the low voltage the LEDs use.

6. Upgrade to a cool kitchen faucet

onurdongel / Getty Images

You can pick up a commercial-style spray faucet at a home improvement center for under $150—some even include a coordinating soap dispenser! Installation isn’t difficult, and the aesthetic difference is amazing.

7. Choose modern window coverings

Explora_2005 / Getty Images

Curtains, Roman shades and other types of window coverings are worth the splurge. They pull your existing decor together while adding a luxurious feel to your rental. Plus, in most cases, they’re easy to take down and move to your next home.

8. Trade out old wall outlets with smart ones

pishit / Getty Images

The majority of charging that happens at home is for USB devices. Why not swap out your old wall outlets with new, multi-purpose ones featuring USB ports? Easy rental upgrades this simplify your space and make your life so. Much. Easier.

9. Mount wireless speakers in every room

Yagi Studio/ Getty Images

High-quality wireless speakers are small and easy to mount. They make it easy to stream music into any room, or enhance the sound quality of whatever you’re watching. Once you have wireless speakers set up in your favorite rooms, you’ll never go back to basic.

10. Swap out kitchen hardware and knobs

LIVINUS / Getty Images

The secret to swapping out the knobs—without drilling holes in rental cabinets—is to upgrade them with the same size or type of knobs the cabinets currently use. The project is simple: all you’ll need is a screwdriver and a small bag to safely keep the original hardware in—until it’s time to put it back.

Don’t be afraid to mix and match styles for a unique look.If you’re living in a rental—or if you’ve just moved into a rental—give a few of these easy rental upgrades a try, and add a little more luxury to your life that you can take with you when you move out.

If you do, drop us a line in the comments and let us know how it went!

Источник: https://www.mymove.com/moving/guides/easy-rental-upgrades-can-take-move/

6 Minor Rental Property Upgrades That Attract Tenants

10 affordable ways to upgrade your rental property

If only your budget was as limitless as your imagination, you’ve surely thought of the many ways you could improve your rental property and the luxury amenities you’d provide your tenants if only you had the money — things tennis courts, fitness centers, swimming pools, game rooms and high-end lounging areas.

Of course, you’d attract more attention with shiny communal amenities, but these are extras. They aren’t necessary for your bottom line. You can make small adjustments to your rental properties to enhance its value, and they don’t cost nearly as much as an in-house movie theater.

To help you make profitable investments in your property, we’ve compiled six minor apartment upgrades that will have a measurable impact on your success. Whether you opt for new cabinet handles or modern light fixtures, you’ll find the items on this list are all within reason.

1. New Cabinet Handles

You might find an inexpensive cosmetic change is exactly what you need to add flair to your rental units. They often show their age in old, outdated hardware, and by swapping your boring cabinet handles for a sleek alternative, you’ll make potential tenants look twice when touring your property.

Instead of the standard stainless steel that’s become a stereotype in today’s rentals, try something exciting and different. You can choose leather pulls, acrylic and metal combos, or stone if you think it suits your aesthetic. As long as you keep it stylish, new cabinet handles are a cheap investment with high returns.

2. Attractive Faucets

The quality of an apartment is often reflected in its fixtures. Too many landlords are content to leave their faucets dull and dingy, tarnished with hard white mineral deposits. It’s something tenants have almost come to expect, so why not surprise them with an attractive, modern upgrade?

First, determine your faucets’ mounting type, whether they’re single-hole, centerset or widespread. Take a trip to your local hardware store, browse the selection and find a model you , then order it in bulk online. You’ll find additional instructions on how to complete the installation yourself if you don’t want to hire help.

3. Upgraded Flooring

Carpeting can turn off potential tenants and be a pain for landlords. While inexpensive, it needs maintenance to remain hygienic and isn’t the most durable option for a unit. Many landlords can’t see themselves shelling out for ever-popular hardwood floors, however. So what can you do to upgrade flooring without overspending on your properties?

Increasingly, a cheaper option with the most bang for its buck is laminate flooring. For tenants, it can recreate the style of hardwood floor and push a unit from so-so to stylish. For landlords, the material is invulnerable to most wear and tear and simple to install. The best budget property upgrades find the middle ground between tenant desires and landlord practicality.

4. Colorful Tile Stickers

Are you tired of tedious tiles? The bathrooms and kitchens in your apartment complex might have plain white tiling, and it’s a safe, practical choice, but you can experiment with different styles at virtually no risk to your existing layout with tile stickers. It’s a noncommittal way to play around with design.

These stickers come in a variety of shapes, sizes and colors, placed on your tiles in whatever sequence you find most appealing. If you think you’d prefer another combination, just heat the stickers with a hair dryer to peel them off. You can see how a renovation will look before you pay for the materials.

5. Modern Light Fixtures

You can replace most ceiling-mount light fixtures without rewiring, making this upgrade a simple DIY project you can usually complete within an hour per unit. Just browse online for modern fixtures until you find an option that agrees with the look and feel of your property. Stock up and check out.

Once you have your supplies, unscrew your old fixtures and replace them with the new ones. It’s a simple way to add color and intrigue to a living space, catching and keeping the attention of potential tenants who will remember how distinct your apartment complex was from others in the area.

6. Basic Security System

Regardless of whether a neighborhood is good or bad, security is a top priority for any landlord. They need to ensure the safety of tenants, protect against intruders and dispel criminal activity around the premises. It doesn’t have to cost a lot to appeal to prospective renters.

If you haven’t already, you should invest in a basic security system to monitor your property day and night. You can add deadbolt locks to your tenants’ doors, and for the outside of your building, install lighting to keep the area bright. Exchanging locks between occupants isn’t enough.

Amenities Can Be Effective Without the Cost

You need to provide comfortable accommodations that are sleek and modern, with attractive fixtures and beautiful flooring. You can separate your apartment complex from the competition by making a few minor upgrades, and it doesn’t have to cost you much.

Whether you choose to invest in new cabinet handles or laminate flooring, you’ll see a noticeable difference in tenant interest.

Источник: https://www.rentecdirect.com/blog/minor-rental-property-upgrades/

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