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Upgrading a rental property can be hard to know where to start. Home improvement and DIY projects may look easy on TV but can require much skill once you get started. Here are some easy ways to upgrade your rental property.
It may be tempting to remodel the entire rental property and it might even be necessary. Before you grab that hammer, carefully evaluate the needed upgrades. Particular renovations will make a larger impact than others. Are your selections purely aesthetic? Or do they help improve the functionality of the rental property?
If you have a budget that you'd like to stick to, prioritize projects that will keep you under cost. And lastly, try to select materials and finishes that will last the test of time.
New light fixtures will give you a big bang for your buck. A new pendant, globe, or accent light is an easy way to modernize your rental property. And while you are at it, go ahead and look for light fixtures that are energy efficient to help save on the monthly power bill.
Fresh paint can make all the difference in a space. Some paint colors can add brightness to the rental property and generally improve the overall ambiance of a room.
If it is not in the budget to repaint the entire rental property, prioritize which rooms need the most help. Is there a room that has more scuffs than others? Or maybe a previous tenant painted a room a hue that isn't for everyone?
Neutral color palettes are attractive to potential tenants, making it easier to envision themselves in the space. While lighter colors show dirt more easily, darker colors can make a room feel smaller. So, pick your paint colors wisely!
Depending on the type of materials you select, brand new flooring can be expensive. But, the improvement can be very much worth it!
Let’s get started with some of the questions you should be considering. Is it most important that the product is easy to install since you’re doing the project yourself? In need of something budget-friendly? Or maybe, you’re most concerned about the longevity of the flooring.
We've got a whole blog post dedicated to breaking down the different products on the market available to you. You can read that here.
If you need a way to maximize revenue from your investment property, we can help. We suggest certain modifications for you to make that will help make your property more attractive, but we will also match you up with the right tenant to keep your vacancy levels as low as possible.
You can reach us at info@ascentpropertymanagement.com or 760-994-5037.