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In cities where owning a property is expensive, renting properties has become a booming business.
Renting out home spaces for Airbnb is also an increasing fad and a boon for tourists and homeowners.
If you are a landlord, your apparent interest is in attracting prospective tenants. And to make your property more marketable and profitable, redesigning and modeling it is a valuable investment for an enticing promotion.
However, a rental home renovation is slightly different from that of a personal home remodeling.
The purpose of a home rental remodeling is to make it comfortable and functional while meeting the clients’ standards.
Unlike your home, where you can impart your taste and personality, a rental home is basically and ideally a blank canvas. Adding little details to please renters is a good start for a good price bargain.
Replace Broken Amenities
Sometimes, there is no need to overhaul your home for a full-on renovation. Aside from the visual appeal, tenants will likely favor working utilities and systems.
So, the first thing you need to do is secure your property from malfunctioning appliances and broken facilities.
There should be no broken doorknobs, no shattered windows, and no hanging drawers.
Pay attention to leaks, clogged drains, or the functioning of your water pressure. You should also make sure that the air-conditioning or heating units are working properly so you can set up an appropriate price.
Adding these amenities if you have none yet is also a profitable move. You can set up a dishwasher, washer, and dryer, or other appliances to top up the rent.
Making your home functional is an attractive bargain for luring prospective tenants.
Start with the Kitchen
The kitchen is one of the spaces that the renters usually give the most attention to when renting a space.
It needs to be functional and accommodating at the same time. A fresh sweep of paint is an ideal start for a frugal home upgrade.
You can keep the colors subdued by engaging in warm and earth tones that will universally fit any tenant’s personality.
Minimalist storage spaces like overhead cabinets or a kitchen island can tentatively raise the value of your property.
Upgrading your hardware by swapping vintage appliances for newer ones is also recommended, if possible.
But if that seems like an over-investment to you, investing in attractive lighting can give it an elegant touch.
Adding a new faucet and a minimalist backsplash will also update the kitchen and make it attractive and pleasing.
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Give Life to the Living Area
You can make an impression with a living room that is cozy and functional. For smaller homes that share the space with a bedroom or a kitchen, you can highlight and divide the area by adding rugs or a carpet.
If you want to do an entire makeover for the rental pad, choose the best flooring material for replacement.
For a luxurious feel, you may try laminate materials or luxury vinyl tiles. These are inexpensive, easy to install, and versatile in design.
However, if you want durable and quality flooring, they are still inferior to natural stones or ceramic and porcelain tiles.
Adding an accent chair or furniture will also make the living room more welcoming with an upscale look.
Room dividers and a frameless glass balustrade over stairs are also an excellent concept for an elegant home if you fancy having one.
Remodel the Bathroom
If you think about a bathroom and a rental property, you will likely picture out a dingy and drab one.
But, a tiny space as the bathroom can also create an impact for increasing the value of your property.
There are various ways to redesign the bathroom like repainting, adding vanities, or upgrading your shower.
Redressing it with new flooring, wall tile, or backsplash is also essential for adding value and appeal.
If you want to add some minor upgrades, install new hardware for a fresher look.
You can change the faucet, showerhead, or even drawers to give the bathroom an attractive and saleable personality.
Mind the Outdoors
Doing a home renovation does not only mean focusing on the interior rooms. What increases the resale value of any property is also its curb appeal.
Obviously, it is the first thing that sets the impression of potential renters too. If your property has a yard or front porch, you can add minor touches in there to update its look.
Trim the yard and maintain its upkeep, or add some accent decors. If your budget and space allow, add a small backyard pool, maybe?
If you want to accessorize your home and garden and increase its rent price value for less, check out some home renovation coupons. You can save a great deal with renovation through it without breaking the bank.
Arrange the Bedroom
The bedroom also needs to be cozy and relaxing to make an attractive bargain. Start with a relaxing and neutral paint like warm or cool gray for a subtle touch of calmness and elegance.
Renters have different visual tastes, so it is safe to stay on the neutral hue in general. So instead of coating it with your favorite colors to make a standout feature, it will be best to settle for neutral ones.
To make it more attractive to renters, invest in a new mattress and different bed pillow types.
These added comforts are a guaranteed effort to allow you to rent your home for a higher price.
You can also change the lighting and fixture in the room to make it homier and stylish.
Takeaway
When remodeling your home to rent for a higher price, you should expect to shell out a good portion of capital expenditure.
Upgrading the rooms, adding functional appliances, or incorporating design trends are valuable efforts for increasing its rent (and future sale) value.
But remember that tenants also come in a different spectrum of personalities. You cannot always expect them to take care of your property, even with the signed contract.
So, the deal is to renovate your home using durable materials and add appendages without going overboard with it.
