Renting out your home or investing in a rental property can be an entertaining hobby and a crucial secondary income source. People are always looking for a place to live or stay while they vacation, but what household features do they want? This guide explains the best six renovations for your rental property so your home or condo can stand out from the competition.
1. Install New Kitchen Countertops
There’s nothing quite like stepping into a luxury kitchen. Even if you have a small space, you can make it feel like it belongs in a mansion by installing new kitchen countertops. Pick something classic but trendy, like white marble or dark grain wood coated with long-lasting sealant. It packs a big visual punch and looks more appealing than standard counters in comparable rental homes.
2. Convert the Bathtubs
Rental property owners will have a much better experience if their home appeals to a broader audience. Converting your bathtubs into walk-in showers can help with that in two ways. First, it gives renters an elevated experience if they sign a lease or book a stay. It also makes the home more friendly to older renters who worry about falling risks while getting in and out of standard tub showers.
3. Replace Older Plants
People may pass on your rental property because it lacks curb appeal on your digital listing. Upgrade your landscaping by replacing older plants with new varieties that thrive where you live. Bright flowers and towering privacy bushes could draw more renters in because they want to live somewhere pretty.
4. Update Your Garage Door Windows
Garage doors serve the functionality, safety and curb appeal of your home. They can also wear down with time. If your garage door has windows, consider updating them to renovate your rental property into a better place to live. Improved insulation and natural lighting allow renters to use your garage for multiple purposes, like a man cave or home gym. Residents or visitors will benefit from an additional room for the same rental price.
5. Invest in Eco-Friendly Amenities
Recent research shows that 77% of people want to live more sustainably, but renters don’t often have a choice in the matter. Older units and homes will have outdated amenities, so replace yours with eco-friendly alternatives to widen your rental pool. More people will want to stay or live in your house because it helps them live their sustainable lifestyle by offering something few other rental properties have.
6. Add a Fence
Fencing is easy to install and appeals to many renter demographics. Parents can let their kids run around outside because the fence keeps them away from the road. Pet owners will release their animals outside for leash-free playtime. Add a fence around your property and it will become a better place to live for people of all ages and backgrounds.
Renovate Your Rental Property
These are six of the best renovations for your rental property, so consider how they’ll improve your renting experience. Something as simple as replacing appliances or updating garage windows will make your property a better place for renters and improve your long-term return on investment.
AUTHOR: CORA GOLD
Cora’s passion is to inspire others to live a happy, healthful, and mindful life through her words on Revivalist–wholeheartedly convincing them that everyday moments are worth celebrating. Cora has spent 5+ years writing for numerous lifestyle sites – hence her sincere love for both life and the beauty of style in all things. Keep up with Cora on Twitter, Pinterest and Facebook.