4 Simple Ways to Upgrade Your Rental
To stay competitive in the rental market, you need to make small changes that have a long-term impact. By treating your rental property as a business you remain competitive and consequently attract more tenants. Making simple cosmetic updates to your rental can have a significant impact. By taking the time to freshen up your property, you’re making a valuable investment that will pay off in the long run. Freshening up the inside of a home is an investment that will pay off in long run! Below we detail quick ways to makeover rental homes that require minimal effort.
Tip #1: Neutral & Natural Contrast
When it comes to the longevity of your chosen design scheme, you should stick with a timeless design of neutral contrast. While some potential tenants might love a pop of color in their space or on certain features like kitchen cabinets, you want to create an environment where every tenant can see themselves living there. For this reason, white paint, natural wood flooring, etc., will give you lots more mileage than anything else.
If you’re looking for a way to make your space seem more airy and light, consider going with white paint and natural wood flooring. These materials have a calming effect that can help you feel more at ease in your home. Plus, they’re easy to care for and will give you lots of gorgeously clean surfaces to work with.
Tip #2: Update The Lighting
Swapping in a new pendant or chandelier can make a big difference in your space, and adds some visual interest. Not only does it draw the eye up which visually increases the height of your ceilings (designer trick) but it also adds a decorative feature to your room. Plus, they provide plenty of illumination, so you’ll be able to see what you’re doing no matter what time of day it is.
Pendant lights are a great way to add a touch of style and personality to any room, and they can be installed in just a few minutes. Pendant lights come in a variety of sizes, shapes, and colors. They can go in just about any space with enough ceiling height. They are also relatively inexpensive, making them a cost-effective way to improve your home’s lighting.
Tip #3: Replace The Faucet
Replacing an old faucet is an easy way to modernize your rental. By choosing a stylish and contemporary design, you give your renters a sense of luxury and sophistication without breaking the bank. A new faucet can completely transform the look of your kitchen. Plus, it’s an easy project that will make your property more attractive to potential renters, and can also save you money on repairs down the road. Below are different types of faucets to keep in mind:
Single-hole: A single unit that might have a single handle or two handles.
Centerset: Centerset mounts have three holes but come with a single mount.
Widespread: A widespread mount has three separate pieces: the spout and two handles.
Once you find another faucet you like that fits that mounting type, the box should include instructions to replace your old one. You’ll need to shut off the water flowing to the sink, remove the water lines, and connect them to the new sink.
Tip #4: Update the Hardware
If you’re looking to give your rental a quick and easy facelift, replacing old, outdated hardware is a great place to start. Swapping out dated drawer pulls and light fixtures can make a big difference in the overall look and feel of your space.
Replacing old, outdated hardware with fresh new pieces can give any room a quick and easy facelift. It won’t dig deep into your budget and keeps your interior modern. Renters a tired of the typical brass doorknob, and this simple trick can make you stand out. USB switch plates, for example, are a huge plus for any renter. It surely will become a marketable aspect of your property.
Interested in design tips that will increase your ROI? Check out our blog How to Design your Fix and Flip to Increase Your ROI.
Jim Thorpe is a Seattle-based entrepreneur and real estate expert with over 30 years of experience in real estate development. He works to find high-demand properties in low inventory areas for both developers and homeowners alike. One of his specialties is locating single-family homes in property parcels zoned for multi-family development. His rental portfolio now includes houses, apartments, and commercial properties. Thorpe’s dedication to his business has led to city-wide growth and development in the real estate sector.
Summit Capital Partners is a real estate development and management firm that operates out of Puget Sound and is owned by Seattle real estate expert, Jim Thorpe. They work to acquire off-market real estate and specialize in developing risk-adjusted solutions, allowing an assets’ value to increase over 6-12 months. Summit Capital aims to make a difference in the community where they do business.
