The Best Guest-Friendly Upgrades to Increase Your Rental Value
It’s the start of a new month. You’re transitioning between tenants, or you’re looking to rent your property for the first time. You’ve been dabbling with the idea of renovating, but you aren’t sure where to start. The good news: even small changes can reap big rewards when you make upgrades to your property. Guest-friendly changes ensure your tenants’ comfort and make your property more attractive in the rental arena.
Want to increase the value of your rental property? Read on for upgrades that make the most significant difference and don’t break the bank.
A fresh coat of paint is a helpful tool for showing off the best feature of the interior: light. The more light there is indoors, the bigger it feels and the more attractive the space. Use whites, eggshells and light hues to keep the area feeling open and clean. The pros say that a quality paint job can last seven years where there isn’t too much wear and tear.
Floors are one of the first things people notice when they walk in, and they can increase the value of your home in a cinch. While carpets aren’t obsolete, you can likely guess why flooring is such a crowd-pleaser. Like a coat of paint, sleek flooring creates more space and is popular for its easy maintenance. Laminate, vinyl, and hardwood floors won’t hold onto odours like carpet can. Plus, flooring makes for a more inviting space if your rental is pet friendly. Nowadays, there are a variety of floor options that won’t get scuffed up by four-legged friends.
Minor Upgrades, Big Difference
When it comes to refreshing the look of your property, small changes can make a big difference. If you’re looking to modernize a space in an older building, there are plenty of tweaks that can help. You can update knobs and handles throughout the home for a consistent look. But you can also target the small features that can date your interior if left unchanged for too long. If your electric outlet covers are a greenish hue, they’re probably from the 1980s. Switching them for a crisp white cover is a quick fix. Vent covers and toilet seats are also quick swaps that will update a room. Don’t forget to take a look at the blinds or window coverings, if you include them. Consider replacing blinds that are twisted or broken. If you need a style note on blinds: a larger width of blind gives a modern and elevated look.
Storage is one of the ultimate priorities for renters. Depending on your space, you might consider adding storage options. If your options are limited, even hooks inside an entryway closet are a great addition. Organizing units fit closets of any shape or size and are easy to install. In the kitchen, you can add extra shelving to tall cupboards. (Or better yet, removable shelving as a convenient option). Finally, make corner cupboards more accessible by adding a spinning shelf like a lazy Susan.
Quick Fix Fixtures
You wouldn’t believe how much new fixtures can revive the look of a bathroom. The faucet, cupboard and drawer pulls, towel racks, hooks, and even the doorknob are all fair game. And this way, you can avoid a complete bathroom renovation, which can rack up your reno bill quickly. Updating fixtures can take decades off the look of your bathroom (even if the rest of the bathroom isn’t exactly brand new).
Style Notes on Fixtures:
If you’re replacing faucets in the bathroom or kitchen, try to avoid fad styles. These will age quickly, and you’ll run into the same problem of needing to update in a few years. On that note: yellow gold is a little risky, so proceed with caution unless it’s the only choice to match your décor. As far as finishes go, you can’t go wrong with metals – polished chrome, brushed nickel and brass. If you’re looking to be a bit more on-trend, matte black fixtures are stylish in a way that will last. Be careful of plastic on or around fixtures. They can crack more easily and be subject to yellowing from usage.
To play it safe, swing your style towards either end of classic or modern. You can recognize traditional fixtures by details like flat cross handles or if you spot the word Venetian in the description. Modern designs will have sleek and minimalist lines. These serve double duty since they’re also easy to clean. Finally, consider a waterfall faucet for a bit of effortless glamour if you’d like to stand out.
You might want to give your rental a complete makeover, or you may simply need a few tweaks. Start with these changes if you’re looking to impress your potential tenants and increase your rental value. If you need inspiration, take a look at our current rentals.