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How renovations and decorations can help maximize your rental income

Home Renovation

Making your rental property as inviting as possible will certainly help you attract the right tenants. In decorating and renovating the property, however, you have to remember that rentals are temporary homes and tenants will treat it as such.

With this in mind, you don’t have to aim for perfection in improving your rental property, as you probably would for your own residence. The important thing is to keep the rental livable and appealing while avoiding spending more than necessary. Prioritize inexpensive improvements that can enhance the value and desirability of your property.

Here are some of the things you can do:

    • Clean and spruce up the propertyOn property tours, tenants’ main objective is to see if the house or apartment is something they’d want to live in. Don’t give them any reason to feel otherwise. Have a close look around the property. Try to see it from the tenant’s point of view so you can identify where repairs and sprucing up are needed. Make sure the home is clean and fresh-looking, down to every nook and cranny. Consider repainting the walls and ceiling if necessary. Make sure all fixtures look new and polished, and fix or replace old and worn cabinet doors.
    • Give the home a bright and airy feel

A dark, cramped space will turn off many potential renters. These simple tricks can help remedy the situation:

      • – Keep the blinds open, or change the window treatment to something that lets more natural light in, such as sheer curtains or translucent shades
      • – Change old light bulbs and choose new ones with higher luminance
      • – Add more lighting if necessary. Floor lamps are a good solution
      • – Break down a wall to give the home a roomier feel

 

  • Paint the walls whiteWhite walls not only brighten up a room, they also give an illusion of space. White, or any other neutral color, is also a safe choice, as potential tenants will have different color preferences. Additionally, white paint is commonly available, so it’s easy to find the right shade if you need to paint over a small portion of the wall later on.
  • Improve the bathroom and kitchenJust like everyone else, renters pay closer attention to the bathroom and kitchen than any other room in the house. Make sure these rooms are clean and fresh-looking, with all fixtures in good condition.

    You can do inexpensive renovations, such as painting the cabinet doors, updating the door handles and knobs, and replacing broken tiles. Fixtures that look old and worn should also be replaced or polished. Small improvements like changing the shower curtain and deep cleaning the tile grout can instantly give the bathroom a fresher look.

  • Repair before you replaceBefore you spend on expensive replacements, check first if repairs or a good cleaning can do the trick. Carpets, for example, can look brand new after a professional washing. Walls may not need repainting at all – just a good scrubbing with water and detergent. The difference between the costs of replacement and repair can be quite substantial, so consider if something can be fixed rather than replaced.

If you need more pointers on how to make your rental more appealing to tenants, call Ray Amouzandeh of TARGA Residential Brokerage at 415-494-7009, or send him a message here.