Is Your Rental Property Getting Old? Here Are the Changes You Need to Make

Just as you would with your own home, rental properties should also be updated periodically to maintain or boost their value and stay attractive to potential tenants. Making improvements is one thing; renovating an outdated property is another. The latter is a necessary expense for property owners; here are some aspects to consider.

Key Highlights:

• Replacing or repairing doors and windows not only enhances property aesthetics but also improves security and energy efficiency. Consider adding smart locks for added value and tenant appeal.
• Swap out outdated light fixtures with sleek, energy-efficient LED options like recessed lighting. This modern touch can boost the look and feel of the entire unit while lowering utility costs.
• Focus on the living room, kitchen, and bathroom—spaces that heavily influence tenant decisions. Replace worn furniture, install smart appliances, and update fixtures to enhance comfort and function.
• Simple upgrades like repainting walls, replacing bedframes, and installing smart lighting can make bedrooms more inviting and restful without breaking the bank.
• Deep-clean surfaces like bathroom tiles and kitchen floors, and replace outdated elements with trendy, easy-to-maintain options like granite countertops or modern backsplashes.

Doors and Windows

Doors and windows are entry points to your rental property, so ensuring they remain secure is more than just updating their appearance cosmetically. For windows, check the glass panels for cracks and replace them as needed. Make sure that they’re correctly sealed to prevent leakage and reduce utility bills.

As for doors, inspect the hinges and locks to ensure they function properly. If it’s within your budget, consider installing smart locks for added security. While they might require a substantial initial investment, this can be an attractive amenity to many prospective renters.

Light Fixtures

Light fixtures make a statement for your overall design. Something as simple as sleek pendant lights over the kitchen countertop can create a more modern look for your kitchen. You can also replace existing light fixtures in your rental property, as they typically have limited lifespans as well.

You can reduce light fixtures altogether when you make rental property renovations. Modernize your it by adding recessed LED lighting to highlight the best features of your rental. As a bonus, they consume less energy than other lighting and can last longer.

Living Room

Many consider the living room to be the centerpiece of a rental property or unit. It’s typically the first thing you see when you enter the premises, and first impressions matter to potential tenants. You can start by replacing furnishings that have suffered wear and tear. You can:

1. Replace carpets or install hardwood flooring
2. Pick furniture with an up-to-date design
3. Add a few plants to brighten the space
4. Replace outdated appliances
5. Install smart devices like TVs and speakers

Bathroom

The bathroom is another major room that tenants tend to consider, and it might need more attention than you think. Between fixtures like toilets and bathroom tiles, there are numerous areas that need to be renovated or maintained. For the bathroom, here are rental property upgrades or maintenance you need to consider:

1. Thoroughly clean bathroom fixtures like toilets and sinks to remove unwanted stains. Check for cracks and replace damaged fixtures if needed.
2. Clean the grout of your tiles by using a hard brush, a cleaning solution, and some elbow grease. If the design is already outdated, then replacing it might be the better option. 
3. Replace your showerheads with new eco-friendly models, which use less water and have more pressure than older models. If not, then soak the showerhead in a vinegar solution to remove gunk buildup.
4. Repaint the walls to cover up stains that cannot be cleaned off.

Bedroom

The bedroom is among the easiest places to upgrade in a rental property. They don’t have many elements that require significant changes, and will likely cost you little. That’s not to say that you should underestimate its importance. After all, it’s where your tenants get their rest. You can:

1. Declutter by removing old decorations to make space for new ones.
2. Repaint the walls as needed based on current trends. Modern homes usually use ground colors to emulate calm surroundings.
3. Replace the old bedframe and opt for a sturdier build that matches the interior design you have in mind.
4. Install smart lights with adjustable brightness. Your tenants would appreciate lighting that they can dim to promote better sleep.
5. Install new curtains that would match the interior, or blinds that would allow the resident to have better control over the brightness of the room.

Kitchen

Just as the bedroom is an easy area for rental property upgrades, the kitchen might require a hefty sum to renovate. You won’t only have to worry about aspects like tables and cabinets, but appliances as well. To modernize the kitchen, you can:

1. Install a kitchen island to add more surface space to work with.
2. Repaint or revarnish the cabinets to make them look like new.
3. Thoroughly scrub the floor to remove stains and stubborn debris.
4. Replace outdated appliances or upgrade them by adding stainless steel appliances.
5. Install a tile backsplash to avoid stains from cooking, as well as add some texture to your kitchen walls.
6. If your kitchen countertops are made from tiles, you can replace them with granite it marble instead to make it look more appealing and modern.

Rental Property Upgrades FAQs

What are the cheapest ways to upgrade a rental property?

• Repairing and replacing light fixtures is among the cheapest ways to upgrade your rental property, but most options can be expensive if you want to see a significant improvement and boost tenant retention.

What are the signs that my rental property is outdated?

• Typically, your rental property is considered outdated when the interior and exterior design no longer align with modern preferences. However, it can also be due to excessive wear and tear.

How can I keep my investment property from being outdated?

• Other than renovations and upgrades, you can conduct regular inspections and property maintenance to keep the property in good condition. 

Let Someone Else Handle the Stress

Keeping your rental property up-to-date in terms of curb appeal, maintenance, and renovations can be daunting, especially if you don’t know where to start or how to access certain resources. Here at ES Property Management, we have all of that covered.

A full-service property management will provide you with regular maintenance, access to a reliable network of vendors, and experts who conduct market research to determine current trends. We aim to make your rental listings attractive to potential tenants and ensure retention. 

There’s no time to lose! Contact us today, and we can get started right away.

More Resources:

• Quick Property Inspection Checklist for Indianapolis Landlords
• My Tenant Has Damaged My Property: What Can You Do?