5 Great Rental Upgrades that Increase Property Value and Rent


If you don’t invest in your rental property, you won’t be able to increase the rent over time, but worse yet, you’ll be forced to lower the rent simply because the property will start losing its perceived and real value. Needless to say, you can’t allow this to happen, especially when you consider the fact that, with regular investments, renovations and improvements, you stand to maximize your ROI and create a hefty income stream. Not to mention that you will be able to attract more affluent, long-term tenants to your doorstep.

This doesn’t mean that you should break the proverbial bank to remodel or upgrade parts of your rental property, as there are plenty of affordable projects that will elevate its value and allow you to raise your rent safely. Here are the five great rental upgrades you should consider. 

Start with the curb appeal

The majority of landlords will focus solely on the interior and the improvements necessary to increase the value of the property, but in reality, true value starts with the exterior. Boosting the aesthetics and functionality of the property’s curb appeal should, therefore, be one of your top priorities if you are to even attract long-term tenants to your doorstep. 

Be sure to start at the far corner of the street, where the property comes into view. From there, you will note down everything that needs to be fixed and improved in order to improve the look and feel of the house. You can fix the potholes and the driveway, repaint the fence, and tend to some meticulous landscaping to frame the design of the entire property.

Introduce smart and sustainable features

The modern real estate market is big on smart and sustainable living, and that goes for commercial as well as residential properties. Nowadays, tenants want to live and work in spaces that not only look good, but also boast the smart features necessary to make life more enjoyable, comfortable, and stress-free. And what better way to achieve this than to invest in smart technology.

Consider investing in programmable lighting and thermostats, introduce a smart home hub that your tenants can sync their smartphones to, and if you really want to maximize your property’s potential, be sure to upgrade old appliances to smart models. Look for the Energy Star rating on the new appliances as well in order to maximize energy savings over the long term.

Fix and upgrade the plumbing system

One of the most important improvements that landlords don’t really think about when planning a remodel is to fix and upgrade the plumbing system. The common mistake many landlords make is to wait until a problem with the drains or the sewage becomes apparent, at which point you may have to disturb your tenants’ peace until you’ve fixed it, not to mention that the costs of the repair may rise if you let the problem worsen over time.

This is why it’s important to tend to preventive drain repair in order to avoid bigger plumbing problems down the road. What’s more, it’s also important to upgrade your plumbing system and replace old pipes, fixtures, and other plumbing features in order to elevate the realistic value of the property. This will also prevent plumbing problems come those cold autumn and winter months.

Create a more comfortable living space

Moving back into the interior, there is a need to elevate the aesthetics of the living environment in order to boost the rental’s perceived value. The way you design and decorate the interior will be up to you, but it’s important to first research your target demographic in order to tailor the living environment to the exact needs of your audience. 

For example, the modern tenant is big on those health-boosting aesthetic and functional elements that not only elevate the look of the interior, but make it a healthier place to live as well. Consider these types of trends for your remodel.

Repaint the interior

Finally, there’s nothing as refreshing as giving the interior a new, exciting paintjob. This is one of the most cost-effective ways to revitalize the interior, so grab your paints and blushes, and give every room a fresh coat of paint that the new tenants will love.

Wrapping up

In the end, rental upgrades don’t have to cost you an arm and a leg, so follow these simple tips and you will have no problem elevating the value of your rental property. 


By Mike Johnston

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