Updating and redesigning your rental property is the best way to add value to it while enabling you to earn more in rental income. Obviously, it is ideal to update your rental in the off season. What updates can be performed quickly and inexpensively to provide the “biggest bang for the buck”? The list here is a great start. Don’t forget to take pictures of the completed update and post to VRBO or the website where your vacation home is advertised.
Replacing those old kitchen cabinets with new ones will impress prospective renters touring your rental property. According to Remodeling, minor kitchen remodels are among the projects that deliver the highest cost/value ratios. Cabinets can update the look of an entire kitchen and just might have first time visitors convinced you fully remodeled the space! Different cabinet styles and colors are available that will fit the design and budget of any home while giving your property the look it needs to succeed in the market. If you want to update without spending the amount to replace the cabinets, consider painting them instead. Two tone kitchens are quite popular now. This look is easy to achieve by selecting two paint colors and painting upper cabinets’ one color and lower cabinets another color.
The floors in your rental property have the ability to tremendously enhance its value or bring the value down. If you feel the floors of your property are holding back its true value and rental income potential, consider replacing them. Updating the look of the floors in key areas of your property will modernize the space while enhancing its ability to appear new and clean. Choose between different types of affordable flooring materials including laminate, ceramic tile, vinyl flooring, and more to achieve the look your rental property needs. If your budget allows, hard wood, bamboo or other natural materials will really make a statement with your floors. Carpeting can take a real beating in a rental but especially here in the Outer Banks with the sand that gets tracked in. Unless you want to replace the carpet frequently, we recommend limiting carpeting to bedroom spaces.
Along with the kitchen, bathrooms are thought by many to be the most important room in the house. Not only is the bathroom vanity often considered one of the most cluttered places in a home, it also serves as a centerpiece to any bathroom. Update the vanity top, vanity base, or vanity lighting fixture to enhance the look of your rental’s bathroom. Taking some time and effort to enhance this part of the property will pay off in potential rental income due to the heavy use it will see on a daily basis. Alternatively, painting the cabinet of the vanity and changing the light fixtures can update the whole look at a fraction of the cost.
Lighting Fixtures & Ceiling Fans
Changing the lighting fixtures in the key areas of your home might be among the easiest and most noticeable updates you can make. Look to modernize the ceiling and wall mounted fixtures in your home to impress potential tenants as soon as they walk in the front door. If you have ceiling fans, consider updating them as well. There are many new designs in ceiling fans from a tropical look to a high tech look; that could drastically change the whole feel of a room. You could get inspired and create a whole new room theme based on the ceiling fan as a design element.
Updating a rental property is important to attracting prospective tenants and retaining repeat tenants. When tenants see that you have updated the property, they will appreciate the care you are providing for the home. This will create good will between you and your tenants which will increase the chance that they rent your property in the future. Simple updates like the ones mentioned here will ensure your property is competitive in your local rental market.
Xpert Home Services will make updating your rental property easy and affordable! Call us for a quote for updating your property. Enjoy the convenience of a one stop shop for maintenance for your VRBO rental Property.