Many property owners in Middle Tennessee want to renovate their rental properties as a means to attract new tenants or to keep the current tenants happier. We’ve compiled a list of smaller renovations that go a long way in the eyes of renters.
A fresh coat of paint on walls can instantly brighten your rental property. It also helps the home look cleaner. Paint is one of the least expensive renovations to make the house instantly more appealing.
While gutting the kitchen for a complete remodel may not be on the top of your to do list, the good news is that a few changes in the kitchen can dramatically help the rental value of your property. Consider making one or more of these improvements:
- New Appliances: Keeping all appliances in the same color palette is a must and adding the latest technology will be more appealing for most tenants.
- Kitchen Countertops: Believe it or not, granite is not appealing to every renter that will come through your property. What they do want is countertops that are durable and match well with the quality of other finishes in the home.
- Cabinet Choices: New cabinets make a huge impression on potential tenants regardless of color and embellishments. Cabinets should offer ample storage space for smaller kitchen appliances and dishes.
Installing flooring options like hardwood or porcelain tile allows for higher rent charges and does have advantages over carpet, mainly that they typically don’t have to be replaced as frequently. If your budget allows between tenants, this is one upgrade that makes a huge impression on tenants.
When it comes to having a functional bathroom, it’s all about storage. Both the vanity and medicine cabinets should have ample storage space. If space allows, a linen closet in close proximity to the bathroom is a big plus.
While it may be a challenge to fit more storage space throughout your rental property, property owners in Murfreesboro have found that tenants would rather give up some space for furniture in exchange for storage space. It may also benefit you to provide some sort of shelving system that makes the closets feel more organized.
Though some of these renovations may seem basic, our Murfreesboro based Real Property Management Rental Solutions team has found that rental properties that feature one or more of these items are more appealing to tenants, and help them take pride in their living spaces.