Owning a rental unit can be profitable if you can draw in the right occupants. An unattractive apartment unit can make it difficult to find tenants, and the longer it stays empty, the less money you will make. To heighten interest, landlords need to make more of an effort than just slapping a new coat of paint on the apartment walls.
New tenants want to settle in a unit that is move-in ready with modern touches. Paying attention to the little things in your unit and updating any features that are broken, old, or out of style can make a real impact on potential tenants.
There is no need to spend a fortune on expensive and extensive renovations to freshen up your rental unit. Let’s take a look at a few ways that you can renovate your rental unit.
You may not consider your fixtures to be important, but old faucets, light switch covers, and toilet seats can make your home appear lackluster. One of the simplest ways to bring some modern style to your rental is to add new fixtures. New kitchen and bathroom faucets or a new rainforest showerhead can make an impact on the overall feel of your rental unit.
A simple way to give your rental a new softer look is to update the lighting. Invest in new and more modern pendant light, or switch it out for a stylish track system. Eliminate the harsh glare of overhead lighting by adding a few lamps to your main rooms. Using soft LED lights can bring warmth to your rental. Fashion lamps can be bright, colorful, and unique to add an individual decor touch that will intrigue your potential tenants.
Add a Backsplash
Rental kitchens are generally pretty generic and bland. If you want to give the kitchen a makeover, it can be done easily by installing a unique backsplash. Adding a backsplash is less complicated than you may think, and can usually be done in just an afternoon. You can choose chic subway tile, ceramic, or even stainless steel tiles to give the kitchen a polished new look. If you aren’t experienced with tiling and putting in mortar, you can choose a peel-and-stick backsplash pattern that goes on just as quickly as wallpaper.
An easy and affordable way to update your apartment is to switch out all of your hardware. Door handles, cabinet pulls, hinges and vent covers can be coordinated in a style of your choice.
Most rental units are updated with a fresh coat of paint between tenants, but going a bit further could help to give your unit a new and dramatic look. If you want to give your unit a unique style, a new coat of paint can make a powerful impact. You can get dramatic with a bright and cheery accent wall, or use a warm color palette to make it feel cozier for tenants. As a landlord, you want to renovate your unit to help you draw in interest from tenants. Once you’ve refurbished your unit, you can use a rental estimate tool to set a competitive rate and gain interest from tenants in the area. Follow some of these tips to help you renovate your rental and make it your own.