Are you thinking about making rental property improvements but feel like your budget is an issue and you don’t know where to start? If so, you’ve come to the right place!
We want to share with you five affordable rental property improvements that you can get done without having to spend a lot of money.
#1 – Add Smart Home Technology
The first rental property Improvement that you should consider is adding smart home technology. This means that you should add a smart thermostat, doorbell camera, or smart refrigerator to your kitchen.
Why should you add smart home technology? The answer is simple: in today’s world, most people do everything through their mobile phones so it makes sense to make your rental property as tech-friendly as possible.
By adding at least one piece of smart home technology, you’re going to attract tech-friendly renters who use their smartphones for everything.
A bonus is once your tenants connect their smartphones to your properties’ smart appliances, they may be more inclined to renew. They will feel ‘connected’ to the rental property.
#2 – Add A Kitchen Backsplash
If you own a rental property, you should consider is adding a backsplash to the kitchen.
You can easily add a backsplash for under $100 without any specialized tools, making it a simple weekend DIY project. This cost-effective rental property improvement is one that will allow you to maximize your rental profit.
You can tailor the design to the homes’ unique characteristics (such as a vintage building having a retro pattern), but it’s best to keep the color palette neutral. A neutral palette of gray, beige, or white allows plenty of room for tenants to let their furniture and accessories do the talking.
#3 – Epoxy The Garage Floor
If your rental property has a garage, you should consider applying a coat of epoxy to the garage floor. Epoxy does double duty by being a visually appealing aesthetic choice and also a protective seal on your floor.
Epoxy is a resin coating (not paint) which cures to form a dense layer on top of your garage’s concrete. It’s an easy do-it-yourself home upgrade that protects the floor from leaking vehicle fluids, scratches, and other wear and tear.
#4 – Paint The Walls
One of the easiest and most affordable rental property improvements is to paint the walls in your property. New paint will instantly help brighten up your rental property, making it look cleaner to potential renters. Just like with your kitchen backsplash, it’s best to keep walls a neutral color. This appeals to a wider scope of tenants because they can easily envision their furniture in the home. Taupe, light grey, and beige are all great choices. Avoid white, as it can be seen as cold and bland.
#5 – Add USB Outlets
Another rental property Improvement that you should consider making to your property is replacing basic electrical outlets with USB combination outlets.
Just about everyone these days has at least one portable electrical device like a smartphone, it makes sense to convert those old school electrical outlets in your rental property to USB outlets.
USB outlets enable your tenants to plug in their devices directly to the electrical outlet instead of needing a connector.
Contact GoldenWest Management
At GoldenWest Management, our goal is to provide every client with the best service and support possible so they feel like they are our only client. Our professional team is happy to provide recommendations on improving rental properties so they rent for the most competitive rate.
For more tips on things that you can do to improve the value of your rental property or to speak with us about our property management services, contact us today by clicking here.