5 Ways to Majorly Improve Your Rental Property on a Budget

Every property owner wants to keep their rentals looking the best. However, that can be difficult for properties that are old and out of date. Plus, you may not be able to hand over an arm and a leg to pay for the updates often needed to get attention in renting out your property. And the good news is that you don’t have to. With a few affordable tricks for freshening up your rental, you can increase it’s appeal quickly and within your budget.

#1 The Outside of Your Property

Since your front yard is the first thing potential renters will see, it’s important to take a close look for improvement opportunities. Consider planting some growth- and climate-friendly plants to help eliminate and replace as much dead grass, weeds, and dead trees as possible. For example, purple fountain grass is a good choice because it grows quickly and is drought resistant. Plus, it’s pretty! That means it will have a better chance of continuing to thrive even if the renter moves in and forgets to water.

#2 The Lighting Fixtures

Old houses typically have light fixtures that just aren’t appealing anymore. Changing them out with something newer is a great way to instantly update your rental property. Just make sure that all of the metal finishes in the rooms continue to match. And if you are uncomfortable with changing the fixtures out yourself, don’t hesitate to hire someone to help with a one-time job.

#3 The Wall Paint

Having a fresh, clean new paint job is another great way to give your property more pop. Consider light, neutral colors like tan or light grey for the walls. Just stay away from dark colors, especially if your property is smaller, as they can be suffocating and not opening. Avoid colors that are too vivid too—keep it simple, brightening, and neutral, so that anyone can feel welcome there.

Also, spend less on paint by buying in bulk! Five gallon paint buckets are cheaper per gallon than buying individual gallons. You can also look for highly discounted mis-tinted paint gallons.

#4 The Bathroom

Take a look around your bathroom. Does it look clean and calming? Look for simple, cheap fixes that you can make to update the area. For example, consider changing out the shower head for a higher efficiency one if it’s been there for a while.

#5 The Kitchen

Old kitchen cabinets can greatly affect the look of a kitchen. If you have dull or shiny brass knobs or handles, you might want to change them out for something more modern. Go to your nearest big box store and purchase some simple yet classy doorknobs. They are very affordable.

When you have a lot of improvements needed for your rental property, it can seem daunting to know where and when to start. But taking some small, inexpensive steps to update each room really goes a long way. Take a good look at each aspect of your property and use these tips as needed. If you need more help, contact your property management company.

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