Rental Property Upgrades When You’re On a Budget
- AMG Props
Rental properties are a fantastic way to generate revenue, but it can be difficult to know where to spend your money. We’re here to provide some inspiration so you can improve the aesthetics of your rental, which can lead to higher returns on investment (ROI). Here are some ideas for affordable ways to some rental property upgrades:
Freshen up the Paint
One way to add some personality to your rental property is through paint. A new coat of paint can completely transform a room, and it's one of the easiest ways to improve space on a budget. If you're not interested in doing the work yourself, there are plenty of professionals who can help get the job done quickly and affordably.
Another way to add personality to your rental is through lighting. You can purchase lighting inexpensively online or take a trip to your local consignment shop or thrift store.
If you're interested in making your rental more eco-friendly, consider installing solar-powered lights or new light fixtures that use LED bulbs.
Consider Your Flooring
Some flooring options are more durable than others. Wood flooring is beautiful, and while it can be a little on the spendier side, it is definitely worth the investment.
But for a less expensive, low-maintenance option, you may want to consider laminate flooring or ceramic tile. Both are easy to clean and relatively inexpensive.
Replace Cabinet Doors
Why go through the expense of replacing cabinets when you can save time and money by just replacing the cabinet doors and hardware?
Using high-quality, solid wood doors will make a beautiful impression on potential tenants. Having top-notch cabinets also allows you the freedom to paint them whatever color you like.
Neutral colors generally work best, but that is entirely up to you. Replacing the hinges and knobs freshens things up even more.
Add Some Curb Appeal
Installing simple yet striking landscaping can entice tenants who take pride in where they live and want an attractive exterior. Having a lovely lawn and planting some bushes and perennials adds natural beauty to your property.
Another thing you can do to add curb appeal is to ensure that all of the outside surfaces are pressure washed. Pressure washing improves the property’s appearance and is great for helping to maintain the life of siding, paint, and other outdoor surfaces and structures.
For More Advice
Are you looking for more tips on attracting the right tenants and maintaining your rental property? Contact AMG Props to learn more about property management services.
Hiring a property manager means you’ll have fewer worries. You can rest assured knowing trained professionals have got your back so you can enjoy your freedom.
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