Renovating Your Rental Property – Five Essential Tips

Your home’s appearance can make the world of difference to people looking for properties. If your decor is too dated, people will look elsewhere. If you’ve had a tenant redecorate and they have pretty unconventional tastes, potential tenants could be turned away by that. Making your home appealing to the masses is a vital part of being a landlord. This short guide offers five tips to ensure that your home looks its very best and that you’re never without a tenant.

1. Fit Some Shiny New Windows

One of the most important things to consider when it comes to marketing your property is how it looks from the outside. Your property could be a palace inside, but if the exterior looks dilapidated, you’ll struggle to find a tenant. Installing new windows not only dramatically increases your curb appeal, but it can also save money in the long run thanks to the insulating properties.

2. Apply a Fresh Coat of Paint

One of the cheapest ways to remodel your property is by applying a fresh coat of paint to the walls. Decorating in neutral colors makes your property appealing to the widest range of people – let’s face it, electric pink isn’t an enticing choice for your lounge walls. If you’re handy with a paintbrush, you could consider doing this yourself to keep your costs low.

3. Invest in New Flooring

Gone are the days when tenants would look at a plush carpet and see it as a plus point. Hardwood flooring is easier to clean and a lot more durable. Investing in engineered wood flooring is a great choice for landlords looking for flooring on a tight budget. Engineered wood is a great addition to your home as planks don’t buckle, shrink, or expand. It would even go great in your bathroom or front entrance, thanks to its waterproof qualities.

4. Upgrade Your Kitchen and / or Bathroom

Making minor upgrades to your kitchen or your bathroom can have a better return on investment than large scale remodeling. For example, if you replace the doors on your cabinets rather than the entire thing, you create the look and feel of a brand new kitchen but at a fraction of the price.

5. Consider Adding Outdoor Space

If you’ve got room to create a sitting area in your yard, you should definitely consider doing so. Wood composite can provide a cheap alternative to real wood and looks virtually identical. Having space to relax in the garden is a major plus point for potential tenants.

When you’ve finished remodeling your home and it’s ready for tenants, you could benefit from the services of a professional Colorado Springs property management company. Using a Colorado Springs property management company takes the headache out of being a landlord, and leaves you with more free time to spend as you see fit.