Home improvement projects are a great way to add value to your rental property. Not only do you get to charge more rent, you also get to quote a higher price should you wish to sell the house in the future.
That being said, it’s essential to carefully consider what type of home improvement project you want to embark on. Because even if you have good tenants, accidents do happen, and you don’t want all the time, energy and money you spent on sprucing up your property to go down the drain.
Also, not everyone has the same needs or taste, so it would be pointless to spend on improvements that don’t appeal to the general populace.
If this has got you thinking hard, just scroll down for some budget home improvement ideas that will make your property rent-ready in no time!
1. Clean Up
Yes, you read that right! The easiest way to make a property look inviting and livable is to tidy it up. If you don’t have the time to DIY, hire professional cleaners. If you want to give it a shot yourself, here’s a list of chores to tackle:
- Wipe down drawers and cupboards with a solution of water and disinfectant
- Wipe away wall or surface stains
- Brush ceiling and floor corners removing cobwebs, if any
- Dust window sills and skirtings
- Sweep and mop floors
- Vacuum carpets and rugs, curtains, and upholstered furniture; remove stains
- Wipe furniture surfaces, picture frames, lamp shades, etc.
- Clean mirrors and glass surfaces with glass cleaner or a solution of water and vinegar
2. Add Curb Appeal
You don’t need to paint the whole house or have new siding; just use a power washer to get rid of all the dirt and grime that’s built up on the exterior of your rental property. Target the driveway and walkways too.
Clear all clutter and waste from the garden, mow the lawn, and remove weeds and dead plants. Add colorful flowers and ornamental plants to your landscaping. Do use indigenous plants and ones that require minimal upkeep. Ensure that driveways and walkways are well lit.
You might want to give the gates, door, and door and window frame a fresh coat of paint. A fancy door knocker will add interest- that’s important when you’re renting out your house! If the house numbers aren’t easy to see, clean them up or get them replaced.
3. Let There Be Light
Adequate light can make a world of difference to a living space. So open up those windows and let the light (and breeze) in! If you have tiny windows, try these tips:
- Clear the space around windows such that you’re able to see them whole from any standing or sitting point in the room
- Move bulky furniture to a darker side of the room
- Make use of floating shelves, cabinets with glass doors, and furniture with narrow legs so that light can pass through
- Pick white or soft colors for window treatments; opt for materials that allow some light in
- Use mirrors strategically to reflect light and make your property look bigger
In addition to natural light, use light fixtures to make spaces brighter and to create ambient lighting. Spaces can be made prettier with floor and table lamps, scones, and pendant bulbs. Check online for a sale or with your local hardware store for discounts on fixtures.
4. Use Molding
Molding adds a touch of elegance to any living space. It’s available in a range of materials and finishes such as wood, MDF, plaster, aluminum, and more. You can also stain, paint or leave it natural to go with your existing décor.
Here are some ideas to try out:
- Use crown molding to make walls appear taller or shorter, and fancier
- Crown molding can be used on the tops of cabinets that meet the ceiling; these would look really good in kitchens
- Use lighted crown moldings to create ambient light
- Make doors and windows prettier by using casing
5. Pay Special Attention to the Kitchen and Bathrooms
The kitchen and bathrooms are the most important rooms in any house and tasteful upgrades are sure to create a wow factor. Note that these areas are challenging to transform, requiring varied trade skills often leading to hefty bills.
Make the most of what you have by:
- Cleaning drawers and cabinets
- Cleaning appliances like the microwave and stove
- Wiping down countertops, mirrors and glass surfaces
- Cleaning grout and washing wall tiles
- Unclogging and cleaning drains
- Wiping shower curtains, and cleaning shower heads and toilet bowls
- Cleaning faucets and fixtures; you can also replace them or consider spray painting them
- Polishing sinks and tubs
- Dusting doors, windows, and floor trim
- Mopping floors
If you can spend some money, adding a granite countertop and tile backsplash can be a worthwhile investment.
While home improvements can add value to your rental property, it’s unwise to spend a lot of money on projects that will burn a hole in your pocket without bringing in more returns. Improvements are also bound to deteriorate over time, meaning you’ll have to spend extra on maintenance. As such, it’s necessary to choose home improvements that are budget-friendly and low in maintenance, apart from being appealing to potential tenants.
With the tips given here, you now know what projects you need to take on to give your rental property a makeover without spending a load of money. So get started on them already and win tenants over!