January 20, 2022

Make the Most of a Renovation Budget and Land Great Tenants

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From multiple small fixes such as updating the hardware of the property to various really large scale projects such as creating a sunroom or knocking down walls. There are just so many ways to spruce up your property for your clients. However, there are certain renovations that your tenants would really appreciate, especially the kind that the average tenant is always looking out for and wants in any property they live in.

The thing is that many, if not most renters tend to opt for renovations that are able to add the most value to a rental property. These people tend to place plenty of weight on the overall feel, look, and functionality of the house or apartment, particularly the kitchen as well as the bathroom too. There are plenty of different renovation projects that you can undertake so as to increase the curb value as well as the appeal of the property for really great tenants. Let us take a quick look at a few such changes and improvement projects:

  • Renovate your kitchen
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While the external finishing is all well and good, it is the kitchen that grabs and holds the attention of the tenant looking for a long-term lease. If the appliances are old and dated or mismatched, the prospective renter might be put off. Here, matching the overall theme and finishes of the refrigerator, oven, dishwasher, as well as microwave will definitely give the kitchen a much more structured and cohesive look. There is no need to buy the most expensive products from the market; however, anything that upgrades functionality would be a definite hit. You might consider investing in brand new countertops or give the cabinets more close attention. You can also compete for the overall look by replacing the kitchen sink and getting new faucets along with a few discreet backsplashes.

  • Take care of curb appeal

The outside of the property is the very first thing that any prospective tenant will see when they lay eyes on your property. This is why it is so important to go ahead and make a really great impression. Simple things like mowing the lawn, polishing the knocker, and getting rid of weeds in the garden can go a long way in increasing overall curb appeal. You might get the exterior and the roof pressure washed and consider applying a fresh coat of paint on the door. Pouring new concrete on the driveway can also give your property a fresh and clean look.

  • install a new flooring system
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If your old flooring is jaded, it would be well worth your while to put in some fresh flooring on the property. For example, you can use wood or wood laminate. If you are on a budget vinyl is also a good option too. Finally, carpets, especially thick pile carpets create a sense of style and luxury too.

  • Remodel all the bathrooms

An up-to-date bathroom is usually the very first thing that a prospective tenant will look for when deciding to stay on your property. This is why it is an awesome idea to remodel the bathroom to please your renters. Some of the more easy improvements include the replacement of the toilet seat. You might consider upgrading the whole toilet if you feel that it is necessary. As a matter of fact, updating faucets and showerheads is also an easy thing to do. Throw in some new cabinet hardware and et voila – You have a whole new bathroom. In the case of small bathrooms, you can convert a large bathtub into a shower area and install shelves in places where they would not take up too much room.

  • Work with a property consultant
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You might consider working together with any renowned property management company.
An example would be the MDSquared Property Group. Doing so will mean better results when it comes to maintaining your rental property. You can also update it with the very newest and latest trends.

  • Conclusion

You can come up with various great renovation projects such as bathroom and kitchen renovations to attract renters to your property If done correctly, these renovations can add substantial value to your property

 


Tags

Conclusion, install a new flooring system, make the most of a renovation budget and land great, make the most of a renovation budget and land great tenants, Remodel all the bathrooms, Renovate your kitchen, Take care of curb appeal, Work with a property consultant


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