It’s no secret that increasing curb appeal and completing home improvement projects is an investment that increases property value, but it’s important to note that—for a rental—the benefits don’t end there.
These projects can increase interest from potential tenants that may be looking at multiple listings. Not only does a well-cared for and modernized home possess charm, but it becomes clear to potential tenants that you are willing to invest in the property.
A tenant can assume that if the property owner is willing to spend the time and money to improve the property and home, should a problem arise, the landlord will be readily available to protect their investment and ensure that the tenant’s needs are met. Likewise, the more clean and attractive your listing appears, the more likely you are to attract the ideal tenant. In this way, any home improvement project enhances the promise of a good tenant/landlord relationship.
With this in mind, here are some simple and inexpensive ideas to improve curb appeal, and increase your rental’s desirability in general.
Revamp Exterior Paint
While painting the exterior of a home is a large commitment—both in time and for your pocketbook—repainting exterior accents can exponentially increase a home’s curb appeal if done correctly. Freshening the paint on your rental’s trim, shutters and front door, can easily modernize and liven up the exterior of a home that needs just a little “something.” Choose a bold color that complements the current walls and watch your rental transform into a contemporary and eye-catching home. Having trouble deciding on a color? Do a scout of the newer neighborhoods in your rental’s area to see what colors are trending and attractive.
Replacing cabinetry is a significant project, and at times is a necessary one. However, if your rental’s cabinets are perfectly functional and just need a little pick-me-up, consider these tips.
The biggest indicator of an outdated cabinet is the finish; if your rental’s cabinetry boasts a color from a different decade, consider renewing them with a new coat of paint. The simple act of refinishing the cabinets can make the entire kitchen look much more appealing to potential tenants. The revitalization does not stop here, however, replace old hardware with modern looking drawer pulls and handles for a fraction of the cost of replacing the cabinetry.
Small Outside Projects
Small outdoor projects can go a long way when it comes to curb appeal, and the best part is: none of them break the bank. Take a weekend to trim hedges and cut the lawn. Replace anything that looks antiquated or dilapidated, such as the mailbox or house numbers. While these tasks might seem insignificant due to their size, these small jobs ensure that the property that looks cared-for and overall more charming to the potential tenant—a good return for a small investment.
Revive the flooring
Flooring can be a great selling point or a large turn-off; if your rental is entirely updated but has carpet that looks like it’s seen war—or perhaps a toddler’s favorite meal one too many times—the attractiveness of the house drops immediately. However, grungy carpet does not necessarily mean that you need to jump to replace it.
Invest in a professional cleaner to give the home a fresh, clean look. A professionally cleaned carpet can take years off the feel of the interior of a house. Don’t forget to buff and polish any hardwood flooring to complete the feel. Fabulously cleaned floors may not be on a tenant’s checklist at first, but you can bet they will be sure to take notice.
Have any other budget friendly tips on improving rentals? Let us know in the comments!