Rental property upgrades can be inexpensive, and today I’m sharing some budget friendly ways to update your rental property. As I walk through a house with a property owner, I always think of ways to make it more competitive with the other homes that are available on the market. The least amount of time you spend on the market, the better your bottom line will be.
Light Fixtures and Ceiling Fans
Brass is outdated, and brushed nickel or brushed bronze are the ways to go today. I would recommend getting the Rust-Oleum spray paint. Take the fixtures down and spray paint all the brass pieces. Put it back together and it will last forever. If the globes are dated and look very old, you can change those out inexpensively as well. Those things will last you some time and save some money.
Door Knobs and Plumbing Fixtures
Plumbing fixtures and door knobs can also be updated with some paint. However, replacing your door knobs might be a better idea. They cost $10, and the paint there will not last as long because they get touched so frequently. This is the same with your faucets. But, this tip can buy you some time so you can budget for replacements in the future. Follow the proper prep instructions, and everything will last even longer. This is a big impact for little money and time. Most homeowners can do these upgrades themselves, and if not, I can recommend someone who can do that for you.
Updating Kitchens and Bathroom Fixtures
Kitchens and bathrooms make or break deals on a house. If your cabinets don’t have door pulls or knobs, consider adding them. You can buy them inexpensively online. I can put those on myself, so anyone can do it. This is inexpensive and quick. If you already have door pulls and doorknobs, you can paint them to give them a fresh finish. But, they are also handled a lot, so it’s better to buy new ones. If you have handles, do the same spread that you currently have so you don’t need to drill new holes in your cabinetry.
You’ll be amazed at your options for laminate countertops. It looks so much like granite, you need to touch it to tell the difference. So if your countertops are worn out, you can buy inexpensive laminate countertops off the shelves. This is simple and inexpensive and it will make a huge impact. Of course new stainless steel appliances will make the biggest impact, but you can’t do those for less than $2,000. With the door pulls and the counter tops, you’re still getting some noticeable upgrades.
Kitchen and Bathroom Flooring
Vinyl flooring is easy to change, but I don’t recommend it in rentals because it’s hard to patch. Once it’s torn, you need to replace the entire room. Do something more durable if you can. Peel and press tiles are a little more expensive and time consuming, but it looks great and will last longer.
These are some of the ways to upgrade and make a big impact for a little money. Make sure your paint is neutral. If your paint is neutral and in good condition, check your trim. You can only wash trim so much before it no longer helps. One thin coat of new paint will make it look great again! Paying attention to these details and keeping your home sparkling clean will help your bottom line.