Renting out your second home, condo, apartment, or even a single bedroom is a great way to increase your income. Whether you’re new to renting out your space or have been in the game for years, finding and retaining great renters can be difficult. However, making a few minor tweaks and rental property improvements here and there can help boost your property’s value — and generate tenant interest. From updating hardware to offering a fully-furnished space, here are ten simple tips you can use to improve your rental property!
1. Update Your Hardware and Doorknobs
Looking for cheap home improvement ideas? Modernizing the hardware and doorknobs throughout your home is one of the easiest — and most cost-effective — ways to update an outdated rental property.
Try exchanging old, worn door handles, door pulls, and knobs throughout your rental for a modern, attractive option. Aim to choose a matching finish, metal tone, and shape to create a cohesive look.
2. Make The Most of Light Fixtures and Sources
Looking to increase tenant interest? Say no to harsh, sterile fluorescent lighting. While it may seem like a minor thing, simply switching up your lighting can have a significant impact on how potential renters perceive your home.
Swapping out lightbulbs is a quick and cheap way to up the wow factor of your rental. By Selecting soft, warm light bulbs you can instantly help your rental space appear serene and inviting.
Additionally, be sure to highlight any windows or natural light sources in your online postings or tours — after all, who can resist a room with a view?
If you choose to stage your rental property for showings or plan on offering a fully-furnished rental, consider adding in decorative mirrors to reflect more light and create the illusion of a larger space.
3. Give Your Kitchen a Lift
Your rental’s kitchen has a massive impact on how potential renters will view your space. A clean, updated kitchen is not only a selling point itself, but it gives the appearance of a more modern home overall.
Wondering how to improve a rental kitchen? Here’s where to get started:
- Upgrade appliances — Opt for sleek, modern appliances. Bonus points if they’re energy-efficient, which will help your renters slash utility costs! Not to mention, you can save big by buying used, refurbished, or even renting.
- Bring the backsplash — Retile or use an adhesive peel-and-stick option.
- Swap your hardware — Exchange worn-out or outdated doorknobs and pulls for a more modern look.
- Care for your cabinets — Repaint or stain outdated cabinets with a trendy hue.
- Replace the sink — Replace your old scratched-up or stained sink.
- Find a new faucet — A detachable metal option adds convenience and is sure to impress.
4. Better the Bathroom
Much like kitchens, bathrooms are prone to showing show wear and tear and looking outdated. Luckily, with a few budget-friendly swaps and fixes, you can transform your bathroom into an attractive selling point.
Start by updating:
- Hardware — Swap cabinet knobs and drawer pulls and install a convenient towel bar.
- Cabinets — Steam and water take a toll on bathroom cabinets. Touch up the stain or consider repainting them.
- Showerhead — Upgrading the showerhead instantly adds a spa-like vibe.
- Tile and caulk — Retiling, or at the least new caulk, can help your shower and vanity areas look clean.
Updating the bathroom mirror is another simple, cost-effective swap that makes a huge impact. Select a fun mirror that makes a statement. In smaller bathrooms with little storage, you can also consider adding in sleek open shelving.
5. Paint and Touchup
Don’t underestimate the power of paint. Selecting the right shade can help make small spaces look larger, kitchens and bathrooms appear cleaner, and living areas look more inviting. Simply giving your front door a lift with a coat of paint can amp up your space’s curb appeal!
And, while it’s tempting to let minor things slide, be sure to patch any dents or holes in the walls and touch up the paint on dinged door trims, baseboards, or crown molding.
6. Refinish the Floors
Stained, worn carpets or heavily scratched hardwood floors can detract from your property. Therefore, flooring is a great place to get started when trying to increase the value of your rental property.
Laminate wood and vinyl flooring options are great for rental properties — they’re attractive, durable, and more resistant than carpet or traditional hardwoods. Not to mention, they’re much less expensive!
Modern vinyl flooring options, in particular, have come a long way. Today’s options are far more attractive and comfortable underfoot than before. And, due to its durability, you can feel more confident renting to pet owners.
7. Have Your Space Professionally Cleaned and Maintained
Whether you choose to list your rental yourself or enlist the services of a real estate agent or another rental brokerage company, you’ll need to make sure your rental space is clean before it’s photographed and shown.
You can ensure your rental passes the white glove test — and save yourself time and hassle of scrubbing and soaping every nook and cranny — by having your property professionally cleaned and maintained.
Additionally, investing in professional pest control can help ensure your property remains pest-free and attractive for potential buyers.
8. Add Convenience With Amenities
Need a surefire way to attract renters? Wondering how to get more tenants? Offering modern conveniences and amenities can help you outshine the competition.
Places to get started include installing:
- An in-unit washer and dryer
- A dishwasher
- A washer and dryer
- Heating and cooling
- A smart thermostat
- Electronic locks
9. Consider Curb Appeal
First impressions count, and potential renters will likely form an opinion of your rental property before they ever even step foot inside! If your rental property happens to have a front door or lawn, making a few tweaks to your home’s facade can help boost your curb appeal.
Some improvements to consider include:
- Installing shutters — Shutters can instantly dress up your home! Select a color that coordinates with your front door.
- Paint the front door — Choose an inviting hue that coordinates well with your property.
- Fence the yard — a fully, or partially, fenced yard is a huge draw for pet-owners and parents alike!
- Landscape — Planting trees, shrubs, and easy-to-maintain plants make for a solid first impression.
- Maintain the lawn and trees — Whether you choose to take on the task yourself or hire it out, having a freshly manicured lawn and trimmed trees helps cultivate a polished look.
10. Furnish Your Space
Last — but certainly not least — consider furnishing your space! From single bedrooms to entire homes, furnished spaces are in demand. Minimalism is trending, and renters young and old want to reduce moving costs by limiting their possessions down to the essentials. So, offering a partially-furnished or fully-furnished home for renters can increase your chances of securing an excellent tenant!
Thankfully, CORT Furniture Outlet makes it easy to furnish your rental home. Explore the ever-changing inventory of new and gently used home furniture items at CORT Furniture Outlet today. Our experts can help you find what you’re looking for at up to 70% off original retail pricing — from home office furniture to living room furniture and decor. Start browsing online or drop by your local CORT Furniture Outlet today and take home your furniture the same day!