Three Efficient Ways to Transform a Rental Property
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Updating your rental properties is a crucial part of owning and managing properties. It’s a good idea to take a careful look at each housing unit during the interim between different tenants and gauge which parts of the apartment or home need to be updated. While some repairs may be obvious, at other times, you may find yourself feeling overwhelmed. You may get the sense that the unit needs to be refreshed, but identifying where to begin can be challenging. Here are the top three most efficient ways to transform a rental property:
1. Paint the Walls
Old paint begins to look dull and lackluster. A fresh coat of paint can immediately spruce up a home. Use light, neutral paint colors to make a room feel brighter and more spacious. Choosing one good, neutral color will save you from making that decision again in the future, and using the same color for each room and each property you own will save you time and money as you can purchase paint in bulk and avoid keeping track of different colors of paint. One good tip is to paint the ceilings when you are ready to replace the flooring; you can avoid tedious preparation work if you can paint before replacing the floors.
If you want to elevate your rental property to achieve a modern, chic, and high-end look, consider following current interior design trends for accent walls. Depending on the clientele you are seeking to attract, small details can make a big difference.
If you want to elevate your rental property to achieve a modern, chic, and high-end look, consider following current interior design trends for accent walls. Depending on the clientele you are seeking to attract, small details can make a big difference.
2. Replace Flooring
Especially if your unit has carpet, wear, tear, and stains on flooring are inevitable in a rental property. It’s a good idea to make a transition towards affordable, low-maintenance, durable flooring that’s more likely to last. Our top recommendations include vinyl, laminate, and linoleum flooring. These materials are cost-effective and can look nice as well; we recommend using the same flooring material throughout the unit or units. Following flooring trends can help your property appeal to more potential tenants as well. Generally speaking, lighter colored flooring will make a room look bigger and brighter.
3. Install New Light Fixtures
If you’ve read this far, you’re probably recognizing a trend: lighter colors = bigger and brighter. But why are we so hung up on spaces being brighter? Brighter spaces create the illusion that a room is bigger than it actually is, and can transform a room with a dingy, dusty feel into a high-end haven. Change out old light fixtures for modern statement fixtures that disperse a lot of light for a fast and easy way to elevate your rental property
While there are a lot of factors to consider when upgrading your rental units, the three upgrades that will give you the biggest bang for your buck is fresh paint, flooring, and light fixtures. These simple refreshes can make your unit more desirable, feel more spacious, and attract more potential tenants.
While there are a lot of factors to consider when upgrading your rental units, the three upgrades that will give you the biggest bang for your buck is fresh paint, flooring, and light fixtures. These simple refreshes can make your unit more desirable, feel more spacious, and attract more potential tenants.