With the spring fastly approaching, many property owners in Coeur d’Alene find themselves thinking about renovating their rental properties as a means to attract new tenants or to keep the current tenants happier. With the rise of the rental market renter can be more selective and search more or the perfect property, so making inprovements makes sure that tenants put your property at the top of their list. We joined with other Coeur d’Alene property management companies to compile a list of smaller renovations that go a long way in the eyes of renters. Here they include:
Gutting a kitchen is probably the most expansive remodel in a house, however, very simple and small updates to a kitchen can really be a good selling point to potential renters. So the good news is that with a few small tweaks, you can still give it a fresh feel that makes it more attractive to tenants. Consider making some of these improvements:
- New Appliances: Keeping all appliances in the same color palette is a very smart choice and adding the latest technology will be most appriciated by your tenants.
- Kitchen Countertops: Believe it or not, granite is not appealing to every renter that will come through your property. However, what they do want is countertops that are durable and match well with the quality of other finishes in the home.
- Cabinet Choices: New cabinets make a huge impression on potential tenants regardless of color and embellishments. Cabinets should offer ample storage space for smaller kitchen appliances and dishes.
- Flooring Choices: New flooring need not be of a quality that you would put in your own residence, do explore hard surface flooring (tile, wood laminate, etc.). This choice helps save you money for cleaning services during turn over to a new tenant and most renters prefer it to carpet.
Installing flooring options like hardwood or porcelain tile allows for higher rent charges and does have advantages over carpet, mainly that they typically don’t have to be replaced as frequently. This is an update that can easily be coordinated between tenants, both you and your tenants will be grateful.
Storage, storage, storage! That is the key word in regards to bathrooms. When dealing with single family one can imagine the plethora of storage space one would need in a rental. Both the vanity and medicine cabinets should have ample storage space, and if space allows, should include a linen closet in close proximity to the bathroom.
Other bathroom renovations that make a huge impact include changing smaller shower and floor tiles out for larger, more modern tiles. Porcelain tiles are more durable, and can be made to mimic the look of hardwood, stone, and even marble.
While it may be a challenge to fit more storage space throughout your rental property, property owners in Coeur d’Alene have found that tenants would rather give up some space for furniture in exchange for storage space. It may also benefit you to provide some sort of shelving system that makes the closets feel more organized. These extra and small considerations are things that help the tenant imagine themselves in your property and win them over.
Though some of these renovations may seem basic, The Real Property Management Coeur d’Alene team has found that rental properties that include these features are more appealing to tenants, and help them take pride in their living spaces and win them over to rent your property.
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