Every landlord wants to attract responsible, tenants and guests, but people like that only go for attractive, comfortable and functional properties. So, if you want to hook quality renters or guests, make sure to provide them with a modern and renovated home! Here are the top remodeling tips that will maximize your rental property appeal and bring you a steady income.
Update your layout
Some 20-30 years ago, interior design trends were totally different than today. Back in the day, architects were doing their best to design an attractive room-by-room floor plan that will provide homeowners with complete privacy all around the property. However, times change and a modern open-layout look that offers light, flow and connectivity are what renters want! So, don’t be scared to knock a few walls down to create a big living space that will appeal to millennials and the upcoming generation of renters.
Rethink your flooring
You might think floors aren’t that important, but outdated flooring can completely ruin the look of your rental property and put off your potential tenants. So, in order to have an aesthetically pleasing living environment, replace your old floors or do your best to restore them to their former glory. For instance, if you combine new hardwood floors with a modern rug in the living room, you’ll achieve an instant feeling of luxury, warmth, and intimacy which is something all tenants want!
Increase your kitchen and bathroom appeal
One of the best things you can do to wow your potential tenants is to renovate your bathroom and kitchen. No one will be impressed by your kitchen from the 70s and your shabby bathroom, so feel free to splurge on these two facilities! However, before you start replacing your outdated tiles and updating your fixtures, make sure your pipes are “healthy”. For instance, in Australia, landlords are responsible for plumbing maintenance, unless the issue was caused by the tenant’s negligence. So, in order to minimize future expenses, make sure to contact professionals in plumbing services in Sydney who will not only ensure your pipes are in top shape, but will also help with bathroom and kitchen renovations. Thanks to years of experience, pros can ensure you get the best final result for an affordable price!
One thing many landlords overlook but definitely shouldn’t is storage. Ask any tenant, especially those with little kids, and they will tell you that you can never have too much storage space in your property! So, if you want to make your rental stand out, boost your storage by adding hooks to the hallways and bathrooms, installing extra closets and adding better shelving. If you really want to wow your renters with your storage strategies, you can add in-wall storage, install built-in shelves or even build a shed on the property!
Green up the living environment
The new generations of tenants are becoming more mindful and eco-conscious than ever before, looking for properties that will ensure their health and the health of our planet Earth. So, in order to attract young tenants, you’ll have to make a few eco-friendly changes to your rental property. For instance, you can start by replacing your old lighting with energy-efficient LEDs. Next, you can ditch your old appliances and opt for energy- and water-saving models. If you want to take your green lifestyle a step further, you can even install solar panels so that your property will rely on sustainable energy sources!
Don’t neglect your exterior
First impressions are everything, so if you really want to dazzle your potential tenants, make sure your exterior is as beautiful as your interior. Ensure your roofing elements are fixed as well as the other outdoor fixtures like balustrades, fences, your porch, and your windows. It’s amazing what a stylish entrance can do for your property, so don’t hesitate to invest some good money in it! You can also pay attention to your landscaping—cut the grass, trim the trees and bushes and plant a few attractive flowers to add a few pops of color to your exterior!
There’s no going around your property renovations if you wish to rent it out for a good price! While you might seem hesitant, investing in renovations means investing in your future, so don’t postpone the process. Hire good contractors, have a good reno plan and you’ll end up with a fresh and attractive property that will attract the best tenants!
By Mike Johnston