You don’t need to be a design or construction expert to upgrade your rental properties. Even if you’re a busy property owner with multiple units, there are quick and easy ways to upgrade your rental properties to help save money and enhance your tenant’s renting experience. Here are our top 10 upgrades that are simple and affordable to upgrade your rental properties:
Pick the right paint
Matte, flat, or eggshell paint in neutral colors is the best way to go for your rental’s interior walls. They’re more stain-resistant than glossy paint colors, and in the event that it gets dirty, these flatter paint coats are easier to clean without damaging the paint job. It’s also a good idea to paint every room in the house the same color. This way, you can save money by buying paint in bulk. If it will drive you crazy to have the same color throughout the entire unit, consider using removable wallpaper on accent walls. Removable wallpaper is generally affordable and easy to install and take down.
Add furniture-free storage options
Floating shelves are an affordable way to add furniture-free storage in your rental unit. Lack of storage space is a common frustration among renters, so finding more ways to provide storage is an easy way to keep your renters happy. Some of our favorite floating shelves have come from Wayfair’s huge selection.
Hire a local landscaping company
Hiring a landscaping company can feel counterintuitive, especially when you’re trying to save money and your tenants are willing to do it themselves. However, the main reason we see landscapes ruined is by optimistic landlords delegating landscaping to a tenant who doesn’t know what they’re doing and/or doesn’t follow through with maintenance expectations. It’s better to make sure it’s taken care of and avoid an expensive lawn overhaul down the road.
Plant native perennial plants in your landscaping
Native plants are better for the environment and better for your water bill! They require less water and maintenance to maintain as they’re naturally acclimated to your local ecosystem. You can find out which plants are native to your area with this National Wildlife search tool.
Switch to LED lightbulbs
You may have heard this one before, but we’re here to tell you that switching to LED bulbs is worth it! LED lightbulbs use 80% less energy than other run-of-the-mill bulbs and have proven to be more durable over time. This means fewer purchases and lower electricity bills. If you haven’t already made the switch to LED lightbulbs, it’s well worth your time!
Skip the cheap window blinds
It’s tempting to put the cheap and simple blinds in your rental property’s windows. While it’s less money initially, they get damaged faster than higher-quality blinds that are only a few dollars more. For durability and a better bang for your buck, we recommend installing cordless blinds with fabric material.
Upgrade the shower heads
Luxury shower heads are more affordable than you might think. There are dozens of great options under $20 on Amazon to check out. If you have a multi-family rental property, we encourage you to consider upgrading your showerheads. Modern shower heads with flow rates below 2.5 GPM can save on your rental’s water and energy bill while also giving your tenant a better showering experience.
Replace handles and knobs
Replacing the handles and knobs on your doors with quality materials once means saving yourself the headache of replacing them every couple of years. Durable handles and knobs also help protect against general wear and tear. And finally, having a cohesive style with handles and knobs improves the aesthetic of any rental unit.
Be open to your tenant’s requests
As cliche as it might sound, a happy tenant is a happy property! Making sure that your tenants feel heard will help them want to treat your property well and stay longer — ensuring that your properties avoid unnecessary tenant vacancies. When your tenants have reasonable requests, try to go the extra mile to fulfill them when you can.
When tenants feel more at home in a space, they will naturally want to take better care of it. For instance, do they want to paint the living room another color? Consider allowing them to do so with the agreement that it will be painted back to the original paint color before moving out. Simple exceptions like these can make a big difference in the longevity of your property relationships.
Hire a local Property Management company
Hiring a quality Property Management company can help save you both time and money. Here are just a few ways they can help save you money in the long run:
- Property Managerment companies have the resources to find you the highest quality tenants
- Professionals routine maintenance checks to increase the value of your property and avoid complex problems down the road
- Property Managers have an in-depth market understanding to charge competitive rent
- Property Managers have professional knowledge can help keep you out of unexpected lawsuits
At the Blackarc Property Management, we treat our client’s properties as if they’re our own. Contact us to see how your rental properties can be maximized and perform at the highest capacity possible!