Cosmetic upgrades can make a big difference to your rental property. You’ll make the home more competitive in the Idaho Falls rental market, you’ll attract better tenants, you’ll reduce vacancy, and, best of all – you’ll be able to charge more in rent.
It’s important to strike a balance. The idea is to invest enough money to increase what you earn, but not so much that you’re in debt or waiting for years before you see any return on that investment.
Forget renovating the entire property. Instead, take your well-maintained home to the next level by making some cosmetic improvements. Here are the best upgrades for your money.
You Should Always Start with Paint
Paint is easy. It’s fast, when you have a good painter, and it’s also cost-effective. If you’re working with a modest sized rental unit, you could spend as little as $200 to repaint the entire property. Fresh paint delivers a huge boost to the look and feel of your rental home. Tenants will notice during showings that the place is modern and welcoming.
Use mid-grade paint that’s durable and attractive. Keep the colors neutral and if you have more than one rental property, buy the paint in bulk and give each home a fresh coat. Buying in bulk also gives you plenty to keep in reserve, in case you need to touch up a wall and want to match the paint color.
Better Flooring in Idaho Falls Rental Homes
Carpets can quickly get old and ugly and need to be replaced.
One good cosmetic improvement is to stop cleaning the carpet. Stop replacing it, too. Instead, rip it up and replace it with hard surface flooring. Most of the carpet you find in rental property stains and tears easily, and it begins to look worn as soon as a tenant moves in.
Tenants prefer hard surface flooring. Here’s why:
- It’s easier to maintain/
- It’s healthier and won’t trap allergens and pet odors and dust.
- It’s more attractive.
Replace your carpet with wood, laminate, or tile. You’ll earn more rent, and you won’t have to replace hard surface flooring as often as you replace carpet, so it saves you in the long term as well. Hardwood floors would be great, and so would ceramic tile. If those surfaces are out of your budget, consider laminate floors or engineered wood.
Faucets and Fixtures are Good Investments
Tenants are going to be especially picky when it comes to the kitchen and the bathrooms. You can make some easy upgrades when you install new faucets, new lighting, and new fixtures. Even drawer pulls on kitchen drawers can make a big difference. Consider painting your cabinets or installing a backsplash behind the sink or the stove.
These are just a few of the updates you can make to your Idaho Falls rental property to achieve higher rents and better tenants. The best cosmetic upgrades for you really depend on your own unique property. If you’d like to hear our specific recommendations, please contact us at Jacob Grant Property Management.