As a rental property owner, making changes to your rental property is of the essence to improve its functionality and value. Rental property in good shape will always attract new clients and help build a good reputation among current renters. At times updating your property requires a huge investment, which may hinder you from undertaking any restorative project. However, there are those inexpensive upgrades that can give your rental property a facelift, as listed below.
Contents
1. Limewash Paint
A fresh coat of limewash can turn a drab rental unit into an attractive and inviting space. It also adds an authentic classic look to the unit. If you are after timeless beauty for your rental property, limewash is a viable alternative. Not only can limewash improve the overall appearance of your rental property, but it is also a very effective way to seal and protect your home’s exterior from the elements. It can help to prevent water damage, rotting, and fading. Additionally, the limewash can also help improve your rental property’s insulation, leading to lower energy bills.
2. Smart Utility Savers
Leveraging and investing in modern technology like smart utility savers can lead to huge payoffs in the quest to retain and attract more tenants for your rental properties. Smart utility savers are devices that can help your tenants save money on their electricity bills and make their stay more comfortable.
These devices can include smart plugs, energy monitors, and smart thermostats. Smart plugs allow people to control when they use electricity by turning devices on and off remotely. Energy monitors track how much electricity people use and help them be more energy efficient. Smart thermostats allow people to control their temperature using remote controls and can turn off the air conditioner when they leave home.
3. Tile Backsplash
A tile backsplash can add a bit of personality and style to any rental property. It’s also an inexpensive way to update any kitchen without breaking the bank. More often, tenants take it upon themselves to do such upgrades to revamp their interior spaces. However, as a rental property owner, you can take it into your hands to make their life much easier by revamping their interior space with a tile backsplash. Tile backsplashes will come in handy to help protect walls from spills and splatters, and they are easy to clean.
4. Consider Different Flooring Options
While there are many flooring options, there are those options that can act in favor of your rental property, like wood flooring. In general, wooden floors can be a desirable feature for a rental property as they can add value and may be easier to clean and maintain than other flooring types. Additionally, wooden floors may help insulate the property, making them efficient when it comes to saving on energy. Even if installing wooden floors might be a bit expensive, the long-run benefits are worthwhile.
5. Secure Gate Latch
Security for your tenants is a priority, and taking some measures is in order. Installing a secure gate latch will not cost you a lot of money but will help keep your tenants safe. A secure gate latch can help deter theft, vandalism, and other forms of unauthorized access to your property. Moreover, if your tenants have kids or pets, a gate latch will come in handy in keeping them safe from wandering off or getting into dangerous situations.
6. Pressure Wash the Exterior
Adding new features to your rental property is not the only form of upgrade, but pressure washing the exterior can also count as an upgrade. Pressure washing the exterior will help drastically improve the appearance of your property. Not only will pressure washing make the exterior of your property clean and tidy, but it will also help extend its life.
7. Add Safety Tech
While on the subject of safety, consider adding to your rental property some safety tech, including cameras, security systems, or smart locks. These are just a few, but they can help your tenants feel safe and increase your property’s value overall. Nowadays, most tenants are after technology and safety, meaning you can easily attract new clients.
Closing Thoughts
Property upgrade projects are necessary to keep your rental property in good condition and attract new tenants. With the right upgrades in place, you can give your tenants a better experience and increase the value of your rental property.
