We’ve all been there: you agree to tour a home with beautiful online photos, only to find that the paint is chipped, the bathroom is crusty, and the kitchen appliances are outdated. No tenant wants to rent a home that is aesthetically displeasing or worse, not functional. How can you, as a new rental property investor, create a welcoming space your tenants will want to call home?
When you create a financial plan to acquire your investment property, you need to budget for home fixes from routine maintenance to major repairs. If you consider yourself a DIY landlord, you’re likely always looking for fresh tips to increase your property value without breaking the bank. Let’s discuss a few easy ideas to freshen up your rental property and compel the next family who tours your home to exclaim, “it looks even better than the pictures!”
Table Of Contents
1. Invest In Landscaping To Amplify Curb Appeal
Investing in simple, lovely landscaping can do worlds for your property’s aesthetic appeal. According to a recent study, 87% of families looking for their next home reported that the property’s appearance in photos played a huge role in their interest. With these statistics in mind, let’s discuss how you can prioritize the aesthetics of your rental property, beginning with the outside.
Start with simple landscaping, such as low-maintenance plants that don’t require routine watering. Flowers can add a welcoming pop of color to even the drabbest exterior, and investing in curb appeal signals to renters that their future home is well taken care of while increasing your property’s overall value.
2. Update Light Fixtures To Elevate Interior
Many old homes have outdated fixtures that are unsightly, outdated, and don’t offer a bright light source. Updating old light fixtures is an easy do-it-yourself fix to modernize your rental property and increase value.
If you don’t have the budget to replace the light fixtures this year, start by replacing all the bulbs and choose a warm, welcoming tone. No one wants to live in a home that’s lit like the supermarket meat aisle.
3. Highlight Storage Options To Entice Tenants
Especially in a condo, townhouse, or apartment, prospective tenants will be assessing the storage space to gauge whether there is enough room for their family. Highlight the storage options in your home by replacing cabinet shelves, lining drawers, or adding additional shelving in empty closets.
If your property is small and doesn’t have much to offer in the ways of storage, consider adding floating shelves to the kitchen. Exposed cabinets are very stylish currently, and can add much-needed additional space to the home.
4. Paint Cabinets To Give The Kitchen An Inexpensive Makeover
According to the founder of Landlordology, a full kitchen remodel is one of the worst decisions a DIY landlord can make as it is expensive, time-consuming, and not worth the return on investment. Rather than investing in a full remodel, make the most of what your kitchen already has and you’ll increase property value without spending thousands of dollars.
Usually, cabinets don’t actually need to be replaced, they are just dirty or out-of-date. Spruce up the kitchen by cleaning and refacing cabinets, painting them pleasing neutral color, and adding new fixtures to amplify your kitchen’s aesthetics and functionality.
5. Replace Old Fixtures For An Instant Bathroom Facelift
Investing in the bathroom is one of the best decisions a DIY landlord can make to see an immediate return on investment (ROI). If you’re anxious at the thought of ripping up the bathtub or re-tiling the floor, don’t worry! Just like we did with the kitchen, you can boost your bathroom’s aesthetics with some easy DIY projects.
Start by replacing the fixtures in the bathroom to give the space an instant facelift. If you have additional wiggle room in the budget, consider adding DIY bathroom shelving, modernizing lighting, and replacing showerheads and faucets to create a clean and welcoming appearance.
When it comes to your rental, a little goes a long way in terms of small improvements that can amplify your space and entice prospective tenants. Follow these easy DIY project ideas to increase your rental property’s value and aesthetic, and attract quality tenants for years to come.