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. And, many of these 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:
Apply a Fresh Coat of Paint
Repainting your rental property is a budget-friendly way to make a big difference. A fresh coat in the right color goes a long way in making a rental look clean and cozy. 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.
Replace Interior or Exterior Doors
Believe it or not, your doors can make a big impression – especially if they are in poor condition. 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.
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.
Refresh Your Flooring
New flooring 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 – both because it looks better and because it’s easier to care for. Investing in new flooring can totally change the look and feel of your rental while adding immense value.
Upgrade Your Appliances
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.
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.
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.
These upgrades can help you maximize your rental income in no time. If you are looking for more ways to boost your property’s value, contact the property management experts at Zenith Properties NW! Our experienced professionals have been proudly helping property owners throughout Clark County WA for over 30 years, and our expertise can help bring your property to the next level. Just give us a call today to get started!