Best upgrades to maximize your rental income in Clark County WA - Zenith Properties NW

    Your rental property is a huge asset, which is why it’s in your best interest to maximize its value. Though many property owners balk at the thought of spending money on dozens of repairs or upgrades, investing in your rental can have a huge payoff.  Another key to maintaining a profitable rental property is minimizing vacancy times. 

    Property owners can only expect to get as much from their investment as they are willing to put into it. That includes making sure it’s presented in such a way that your property will always be in high demand and occupied by quality tenants. 

    But upgrades don’t have to break the bank to be effective! Here are the best rental upgrades you can make to increase your property value: 

    9 Property Upgrades You Can Perform

    1. Apply a fresh coat of paint.

    Repainting your rental property is a budget-friendly way to make a big difference. As most seasoned property owners know, adding a fresh coat of paint between renters is a pretty standard and very affordable way to improve the look of any indoor space. Sometimes it’s simply a necessity, as scrapes and scuffs on walls are common occurrences.

    To save even more money, you could try to negotiate a discount by buying paint in bulk. That way, you also won’t have trouble finding a color match if you need to do some touch-ups later on.

    1. Replace doors and windows.

    Believe it or not, your doors can make a big impression, especially if they are in poor condition. Your property’s doors and windows can impact a prospective renter’s decision, even if they aren’t consciously considering them. Updated doors and windows can make your property’s facade pop! Plus, if they look great, they can set a welcoming tone, right from the start.

    If your front or interior doors are sticky, scratched, squeaky, or frequently stuck, then they could give off the sense that your property isn’t getting the attention or care it needs. Replacing or touching up your doors is an easy and cost-effective way to boost the appeal of your rental.

    1. Add new landscaping features.

    Landscaping is one of the first things that people will notice about your property, so it should be clean and inviting. Though massive landscaping projects can get quite expensive, you don’t have to go overboard. A well-kempt lawn, some flowers, or potted plants can go a long way.

    1. Refresh your flooring.

    Investing in new flooring can totally change the look and feel of your rental while adding immense value. It can be pretty expensive to install, but dingy or stained carpet can seriously diminish the appearance of your rental property. 

    Many renters value units with hardwood, laminate, or tile flooring because it looks better and because it’s easier to care for. 

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    1. Upgrade your appliances.

    One of the quickest ways to turn off a prospective renter is to have outdated appliances in your property. ENERGY STAR appliances are the way to go and can be touted as a money saver for renters on their monthly utility bills. Aesthetic appeal and practical modern features on appliances, like front-loading washing machines or a large-capacity dishwasher, are also alluring to prospective renters.

    Though appliances can be a little more expensive to upgrade, they can add a lot of value. Newer or repaired appliances look and function better, and they show tenants that you are willing to invest in their comfort. And some appliances (like washers and dryers) can even allow you to charge additional fees.

    1. Consider additional kitchen upgrades.

    Kitchens are a major selling point, even for renters. But there’s no sugarcoating it: some upgrades don’t come cheap. Kitchen cabinetry and countertops are among those likely to be pricey. However, granite and stone countertops and new cabinets can transform a kitchen from average to stunning. 

    There are other kitchen upgrades that aren’t expensive, but can give you a lot of bang for the buck. New sink fixtures are a nice addition, but one of the more underrated amenities that you should consider, if it’s missing, is a garbage disposal. 

    A survey from the National Multifamily Housing Council found an overwhelming 88% of apartment renters were interested in a kitchen with a garbage disposal. Even if your property isn’t an apartment, this is the kind of perk that would translate to any rental property type.

    1. Also consider bathroom upgrades.

    In addition to kitchens, bathroom upgrades compete as a top priority for your rental upgrade dollars. They both have one need in common: renters want both of these rooms to feel clean and inviting. 

    While you may need to do a major upgrade overall, even simple and inexpensive modifications like new fixtures or vanities can upgrade the bathroom significantly.

    1. Pressure wash the exterior.

    Pressure washing is probably one of the cheapest and most impactful ways to upgrade the appearance of your rental property. Within a matter of hours, you can wash away dirt, mold, and mildew from the exterior of your property, including areas like the porch or balcony. 

    If you don’t own a pressure washer, you can rent one at your local hardware store or hire some help.

    1. Invest in better lighting.

    Lighting can completely alter the mood of your rental property while illuminating all of your other beautiful features. A relatively inexpensive way that you can improve your lighting situation is to change light bulbs, clean out and dust fixtures, and make repairs to broken fixtures.

    Helping Property Owners Since 2008

    If you are looking for more ways to boost your property’s value, contact the property management experts at Zenith Properties! Our experienced professionals have been proudly helping property owners throughout Clark County for over 18 years, and our expertise can help bring your property to the next level. 

    Just give us a call today at (360) 696-3111 or fill out a contact form here to get started!

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