There are dozens of ways to improve your rental property, but not all of them add value to the space. Some things are requirements, such as checking the plumbing and updating commonly used hardware, but there are other renovations that you can do to increase the rent. Here are three good upgrades to your property that will increase the rent.
Good Upgrades to your Property to Increase Rent
- Install quality countertops. First, you can install quality countertops. People spend a lot of their time in the kitchen, cooking, cleaning, or eating. For this reason, quality countertops will go a long way to increasing the value of your rental. Additionally, butcher block countertops add a stylistic component to their functionality.
- Add additional storage. Next, you can add additional storage. Potential renters are always looking for more storage options in their rental units, and you can provide. Great places to add additional storage are kitchens and bathrooms. If you already have a built-in storage area, adding shelves or cabinets to that space can make it even more appealing to renters.
- Spend some time on the bathroom. Finally, if you do nothing else, you should spend some time on the bathroom. This may sound silly, but bathrooms are special places, and people spend a lot of time inside them. Showering every day or even multiple times a day means that a functional and stylish bathroom is a must. Consider having updated countertops, cabinets, and even a walk-in shower to make your rental’s bathroom luxurious.
When planning to rent out your property, it is not just enough to have a vacant space. Your space also must be appealing to potential tenants. One way to make your place appealing is to invest in upgrades that your tenant will value. Some of these upgrades include installing quality countertops, adding storage, and updating the bathroom. If you are interested in renting out your property but don’t want to do the management, a property management company, like Walters and Company, can help.