You don't need to gut and rebuild a rental property to make it appealing to tenants. Unless you're an expert flipper, the money usually isn't there in fixing up rentals for newer landlords trying to expand their financial freedom.
Simple upgrades meant to make life easier for residents are generally enough to make your property more appealing to renters. Here are seven easy and cost-effective rental property upgrades you might want to consider for your Hampton Roads rental property.
1. Decide to Be Device Friendly
This simple upgrade can be done on your own for the handy types—or with the help of an expert for the DIY shy. A USB equipped wall outlet costs between $5 and $20, making this the cheapest upgrade on our list (and one millennials and the generations after them will love).
Of course, you won't need to replace all of the outlets in your property! Adding a USB outlet to common areas where you would want to plug in a phone or other device is all you need to do. One in the kitchen and perhaps one per bedroom at most in your bring this project under $100—and it delights tenants every time.
2. Keypad Deadbolts
Cut down your rekeying costs for your Hampton Roads rental properties and install a keypad deadbolt. While this upgrade might be a little more expensive in the long run, it will save on rekeying when your tenants move as you can simply reprogram the lock.
Plus, you'll never have to worry about lockout calls when your tenant can memorize their entry code—making this an upgrade that is attractive to tenants as well.
3. New Hardware
A simple project for anyone who has a knack for straightforward DIY. Replacing worn-out hardware throughout with new, matching hardware such as cabinet nobs and drawer pulls is a fast—and cheap—way to make the property look fresh and current.
A 10-pack of modern, attractive cabinet nobs starts at around $20—but you won't need to hire help for this upgrade.
4. Resurface Dated Countertops
If your countertops are a laminate that hasn't aged well, consider this upgrade that is becoming common in modernized apartment units: stone look refinishing. A project that is easy to DIY, this can usually be done in a weekend.
If it makes you nervous, a local expert should still be able to do the job for far less than it would cost to replace your countertops. Choose a neutral finish that matches your paint and hardware for a look tenants will love!
5. The Power of Paint
Dollar for dollar, painting is one of the fastest ways to make an entire house look like new. If your rental property has some outdated colors, updating them to modern whites and taupes will allow tenants to see themselves in your property—instead of "the ghost of 70's past."
The same goes for old wallpaper borders: while they used to be beautiful, these days, they are not in style. Removing them and adding some fresh paint to your Hampton Roads rental properties can bring your them to the top of the list for fashionable renters.
Don't only consider painting walls: a fresh coat on doors, trim, and cabinets can refresh water and time-stained wood. A new color on the front door especially will help create a great first impression when potential tenants tour your property.
6. Fashionable Faucets
If a solid soaking of CLR isn't enough to rid your faucets of 10 years of caked-on lime deposits, it might be time to replace these fixtures. Anything that can never look clean is bad for showings—and a constant frustration to tenants.
A bathroom faucet assembly can be purchased for under $20 and can be done in under an hour. Choose something simple and modern to delight tenants for years to come.
7. Add a Kitchen Backsplash
Easily add a peel-and-stick backsplash to your kitchen to make it visually appealing—as well as easier for tenants to clean. You can also install them in bathrooms around the vanity for increased appeal.
Don't Forget to Advertise Your Improvements!
Don't wait for a tenant to come and tour your rental to let them see all of the upgrades you've added to your property! Your rental listing is a great time to mention these updates—and your property listing photos should include them as well.
Tenants like to see the word "updated" in property listings—after all, if you were looking for a home, you would too!
List Your Rental With the Rent Estate™ Experts!
Want to leave getting your property ready for tenants to the experts? Contact Renters Warehouse Hampton Roads!
We'll get your property rent-ready, list it perfectly, and manage it—all you have to do is leave the worrying to us. If you're getting your property ready to list on your own, download our free Make-Ready Checklist! It covers everything a landlord should check when prepping their Hampton Roads rental properties for listing to attract your next set of tenants in Hampton Roads.
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