Attention LANDLORDS: Having Trouble Finding a Tenant?
Consider these seven renovation tips to get your rental property occupied.
1. First Impressions
Don’t allow potential renters drive right by! One of easiest and cheapest things you can do is keep the yard in good shape. Cut grass regularly and remember landscaping is more than just greenery. If you have the time and it is within your budget, adding paths, lighting, fences, or a couple tiny ponds would be a great idea. Also make sure to fix cracks in the driveway or walkway and repair bad siding or shutters.
2. Improve Floor Plans
The key to a better floor plan is more space. Combining kitchen, dining, and living areas will create the illusion of a larger area. If tearing down a wall or two is not in the budget then try widening doorways. Widening doorways between 6 to 12 inches will make a noticeable difference.
3. Make your Kitchen Efficient
A kitchen is much more important than a family room or bedroom. It needs to be safe and functional. Replace damaged countertops, but don’t worry, you don’t need to choose pricey granite. Granite is high maintenance and is actually more prone to stains. Laminates can be found for a lot cheaper, but do not last as long. Quartz is also a great option. It may cost a little bit more but the sooner you find a tenant, the sooner you returns on the investment.
4. Nothing Looks Worse Than a Dirty Bathroom
If the toilet looks old and dirty, replace it. Another quick fix can be a new shower curtain or door if it isn’t in good shape. If you have the time, replace the floor. Make sure you use something that is water-resistant. This could add some style along with a polished or new sink and faucet.
5. Fix the Floors
Most flooring can be easily stained and even smelly after years of wear and tear. Most apartment complexes will replace carpet every few years. The only difficulty is what to choose. Some people like carpet because it makes the room feel warm and cozy, but some people like hardwood or laminate because it holds up better. If you don’t want to spend the time and money then at least fix/replace those cracks in the vinyl or tile flooring.
6. Universal Design
If the apartment follows a universal design it will be usable by anyone regardless of age, size, or physical ability. This will allow your property to be marketable to a wider range of people. Some examples of universal designs would be widening doors, installing grab bars near the tub & toilet, and installing hand rails on stairways.
7. Managing Maintenance Matters
Remember to keep maintenance in mind, when making renovations. Maintenance problems are even bigger pain after renovations. One thing to take into consideration are appliances. Replacing older appliances is a good idea since it is more difficult to find parts and it can be more expensive. Instead, get energy-efficient appliances. This will also help in the long run to reduce electric costs.