5 Rental Property Upgrades To Invest In For 2021

One of the smartest decisions that you should make as an owner in 2021 is to upgrade your rental property.

When you make upgrades to your property, you’re increasing the value of your rental while also positioning your rental property to appeal to a higher quality tenant.

The good thing about making upgrades to your property is that they don’t always have to be expensive upgrades, and there are many upgrades that you can do yourself.

In this article, we will share with you several rental property upgrades that you should consider investing in during 2021.

Upgrade #1 – Improve Curb Appeal

Since curb appeal is the first thing that a prospective tenant will see before touring your rental property, it’s best to focus on making a great first impression by improving the curb appeal of your rental property.

For single-family properties, it’s best to consider investing in desert landscaping because this will take the responsibility of maintenance off the shoulders of your tenants while ensuring that your property doesn’t need much landscape maintenance during the year.

If you own a multifamily property, it’s important to make sure that the landscaping is attractive and appealing to tenants so that they will want to make their units look as good on the inside, as the property does on the outside.

Upgrade #2 – Install Consistent Flooring

After focusing on improving curb appeal, the next improvement that you should make is installing consistent flooring throughout the rental property.

This is important because many rental properties have different types of flooring throughout the property and inconsistent flooring can make a rental property look old, or not well maintained.

By installing the same type of flooring throughout your rental property, you will be showing your tenants that you have a clear standard for the property and aren’t willing to settle for good flooring in one room and substandard flooring in other rooms.

Example: Consider adding laminate flooring in the kitchen, dining room, and hallways of the home while adding carpeting just in the bedrooms.

Upgrade #3 – Paint The Interior And Exterior Of The Property

New paint is one of the most affordable upgrades that you can make to your rental property and since it’s easy for almost anyone to use a paintbrush, this is also a DIY home improvement that you can do yourself.

Tips: Choose neutral colors for the interior of your rental property instead of going with white for every room.

You can add color and character to each room by sticking with neutral colors like grays and beiges.

When painting the interior of your rental property, always be sure to apply a fresh coat of paint to each wall and avoid the habit of touching up spots.

Although touch-ups may save time, they can make a wall look ‘splotchy’ and this method of painting should be avoided.

Upgrade #4 – Upgrade Old Appliances To Stainless Steel Appliances

If the kitchen in your rental property has some outdated appliances, you should consider upgrading those appliances with stainless steel appliances.

Stainless steel appliances are important because most people like to have stainless steel appliances in their kitchens and they also improve the look and feel of the kitchen in a rental property as well.

Upgrade #5 – Repaint Or Refinish The Cabinetry In Your Rental Property

Last of all, but most important, you should also focus on improving the look of the cabinetry in your rental property by repainting or refinishing those cabinets.

As with painting, this is also an upgrade that you can do yourself and it’s not an expensive upgrade to make.

Tip – After refinishing or repainting the cabinets in your rental property, you should also change out the drawer pulls and doorknobs too. This will help to finalize the look and eliminate any cabinet hardware that may be outdated.

Contact GoldenWest Management

At GoldenWest Management, we’re experts at local property management and can save you the time, money, and hassle of managing your investment property yourself.

Our company is a top property management company in the United States because we also treat each client like they are out the only client.

To learn more tips that you can use to update your rental property, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or click here to connect with us online

Property Management Tips: The Difference Between Habitability and Cosmetic Maintenance

Are you planning on making improvements to your rental property?

Investing in improvements is a smart thing to do because this will improve the value of your property and earn you more money on a monthly basis.

Before making those repairs though, it’s important to take the time to distinguish between if the repairs that you want to make will contribute to habitability, or if they are cosmetic repairs only.

What Repairs Are Habitability Repairs?

Although you may have grand designs of making certain improvements to your rental property like adding granite countertops or custom flooring, the reality is that these repairs should not be completed prior to addressing any habitability concerns.

‘Habitability’ refers to necessary repairs which ensure your rental property has working plumbing, electrical, heating, and cooling. It also must be safe, dry, and pest free. You must legally provide the bare minimum of all habitability requirements in order to collect rent from your tenants.

Some states, like Nevada, have unique requirements intended to address local areas of concern. Nevada in particular requires working A/C during the summer months, while the cooler state of California does not require this.

If your rental doesn’t meet one or more of our habitability criteria, your goal should fix those habitability issues immediately.

Do You Need To Address Cosmetic Repairs Immediately?

When it comes to cosmetic repairs, these are improvements that keep your rental property in good condition but they are not always necessary for your tenant to live there.

Some of the most common cosmetic repairs include granite countertops, high-end flooring, or smart appliances.

Cosmetic repairs may not be legally required (as they don’t affect the tenant’s ability to live there) but could be a good investment if you’re hoping to rent the property for years to come, or if you’re interested in maximizing your rental income.

Knowing which cosmetic repairs will best benefit you takes a trained eye. Consult with a trusted property management company with experience in renovating homes for rent before committing to any upgrades.

Hire A Local Property Management Company

At GoldenWest Management, we specialize in local property management. This means that we know the area’s individual needs well and will find the most qualified tenants for your rental property.

Our property management team will also take care of habitability issues immediately thanks to our 24-7 hotline and in-house maintenance team.

You can also count on us to recommend changes or improvements that you should make to improve the cosmetic look and appeal of your rental property as well.

For more information on property management services that we can offer you, contact us today by calling (866) 545-5303 or click here to connect with us online.