7 Best Renovations for Your Rental Property: Renters Will Flock to Your Property with These Simple Upgrades

Investing in renovations for your rental property can significantly enhance its appeal and attract potential tenants. Here are seven simple and cost-effective DIY upgrades that will make renters flock to your property:

1. Fresh Coat of Paint

A fresh coat of paint can do wonders for any space. Choose neutral colors like beige, gray, or soft white to create a clean, modern look that appeals to a wide range of tenants. This simple upgrade can make your property look well-maintained and inviting. Try to Keep the walls neutral to give potential renters a blank canvas to work with. You might also consider offering to paint the walls the renter’s choice of color, whether that be the entire interior, a particular room or an accent wall.

“Colors are the smiles of nature.” – Leigh Hunt

2. Update the Kitchen

The kitchen is often the heart of the home, and updating it can greatly increase the property’s appeal. Consider replacing outdated cabinet hardware or give the cabinets some attention before spending too much money on all new cabinetry, simply sand and paint the existing ones yourself. Top them off by adding new hardware for a modern look, installing new light fixtures, and adding a stylish backsplash. Even small changes like a new faucet can make a big difference.

“The kitchen is the heart of every home, for the most part. It evokes memories of your family history.” – Debi Mazar

3. Upgrade the Bathroom

Bathrooms are another key area that potential renters focus on. Upgrade the bathroom by replacing old fixtures, adding a modern vanity, and installing new mirrors and lighting. A fresh, clean, and modern bathroom can be a major selling point. If you’re working with a small bathroom, do what you can to maximize the space and provide storage. This will give tenants a functional space, which is valuable but hard to find.

High-value renovations to consider for your rental’s bathroom include:

• Use a pocket door or barn door.
• Convert the bathtub into a walk-in shower.
• Install shelves. This will provide more storage but won’t take up a lot of room.

“Happiness is a small house, with a big bathroom.” – Unknown

4. Improve Curb Appeal

First impressions matter, and the exterior of your property is the first thing renters will see. Enhance curb appeal by maintaining the lawn, planting flowers, and adding a new front door or updating the existing one with a fresh coat of paint. Clean and well-kept exteriors attract more interest. Up your curb appeal with simple outdoor rental property maintenance like:

• Planting new grass.
• Adding a small garden.
• Painting the entire exterior.
• Trimming back trees and shrubs.
• Installing planters in front of an apartment building.
• Pouring new concrete or install new pavers or bricks.

“The first impression is the last impression.” – Unknown

5. Install Energy-Efficient Fixtures

Install new light fixtures to modernize the space and brighten the rooms. Updating cabinet handles, door knobs and blinds are also quick and easy fixes. Energy efficiency is a top priority for many renters. Upgrade to energy-efficient light bulbs, install a programmable thermostat, and consider energy-efficient appliances. These upgrades not only attract eco-conscious tenants but also reduce utility costs.

“Energy efficiency is the cheapest, cleanest, and fastest way to meet our energy needs.” – Carol Browner

6. Add Storage Solutions

Storage is always in high demand. Install shelving units, add closet organizers, and utilize under-the-stairs spaces. Offering ample storage solutions can make your property more functional and appealing to potential tenants.

“Storage is the key to a well-organized home.” – Unknown

7. Enhance Flooring

Floors take a lot of wear and tear, and updating them can instantly refresh a space. Consider installing durable and low-maintenance flooring options like vinyl planks or laminate. These materials are cost-effective, easy to install, and appealing to renters.

The survey revealed that hardwood was the number one material used to replace the previous floors a recent survey showed. Hardwood is a popular material because it looks modern and it’s easy to clean. Carpet, on the other hand, is not often sought-after in rental properties because it can trap smells and requires more maintenance.

When you’re working through your rental property renovations, replace the floors last. Other projects can produce a lot of dirt and dust, so installing floors at the end will keep them looking their best. However, in the kitchen, save appliance installation for last and put the new floors in just before.

“Good floors make a house feel like home.” – Unknown

Renovating your rental property with these simple DIY upgrades can significantly increase its appeal and attract more renters. A fresh coat of paint, updated kitchen and bathroom, improved curb appeal, energy-efficient fixtures, added storage solutions, and enhanced flooring are all cost-effective ways to make your property stand out in the rental market. By investing in these renovations, you’ll create a more attractive and functional living space that renters will love, ensuring higher occupancy rates and better returns on your investment.