5 Simple and Speedy Renovations that Increase Property Rental Value

Renting out a property can come with a lot of responsibilities but also a lot of opportunities. Investing a little money in your rental property can have a double-whammy effect of upping your monthly rental value while also adding to the property valuation.

There are plenty of reasons to renovate a rental property and keep it up to date, but where should you concentrate your attention? Here are five simple and speedy ideas to get you started.

Freshen Up the Bedrooms

The standard of the bedrooms in a rental property can make or break a tenancy. Bedrooms are a personal spaces. If you are trying to let out an apartment or house and the sleeping quarters are in a poor state, you will struggle to find a tenant.

Giving the bedrooms a regular coat of paint and freshening up is a wise investment in your property that gets you a lot for your money. Your tenant should be happy with a recently decorated and modern styled bedroom, and a happy tenant is a quiet one.

Bigger jobs like fitting a new carpet are worth the extra investment. New carpets can really sell a space to a tenant. Look here for a luxury bedroom carpet from Designer Carpet that can tempt tenants into renting your space. Choosing something more luxurious and fashionable can be the difference between a continuous tenancy and costly months without a rent payment.

Update the Kitchen

The kitchen is the heart of any home. It is one of the most important rooms in a property, and people looking for a home to rent will often skip straight to the photos of the kitchen when searching online.

Having a dated kitchen can affect your potential rental value. Giving it an update could raise your monthly income from the property, helping to pay for the cost. Over time it could pay for itself.

Renovating a kitchen also gives you an opportunity to replace old appliances like the stove, oven, and fridge. These could be so old the pose an electrical or fire hazard, so it is an opportunity to replace them with new, safe equipment. New appliances are also a sought-after feature for new tenants.

Renovate the Bathroom

The next most important room after the kitchen is surely the bathroom. An old bathroom can put people off a property, whereas something fresh and modern has the opposite effect.

Replacing or updating your bathroom suite can be quite a large investment, but it will pay dividends down the line. The bathroom will be as good as new for a decade or more, provided you and your tenants look after it and stay on top of any maintenance.

You will get a lot of life and value from a modern bathroom; it will attract potential tenants to the property for a long time. Choose classical-style hardware for a chic and timeless look that will still be fashionable for years to come.

Enhance your Kerb Appeal

How a property looks from the outside can have a lot of influence over property valuation and can attract or repel tenants. Having a property that looks clean and well-maintained from the outside tells people that you know how to look after your properties, and your tenants.

If you are having trouble getting consistent tenancy at a property, take a long hard look at the exterior. It may be that you have let standards slip a little and a dilapidated exterior is putting tenants off living there for long.

Get some landscaping done if you have gardens to take care of outside and give all the stonework and pathways a good clean. Jet washing works really well on old and stained paving.

Add Some Popular Features and Amenities

This is quick and simple to do. Adding a few creature comforts to your rental can increase its property value as well as attract tenants and keep them.

If you are renovating the kitchen, consider adding a built-in dishwasher. People will pay a little extra to get away with not having to do the dishes every night. Simple little upgrades like this can add rental value and secure good tenants for long periods.

Spending a little money on your outdoor space can seriously up your potential rental value. People look for gardens and outdoor areas when scouting for new homes, and a patio or decking area is something that grabs their attention. Giving these areas an update and making a modern outdoor area with a fire pit or a water feature can get potential tenants through the door in droves.

Simple and smart investments in a rental property can yield great returns. Choose a couple of the ideas on this list, and you should see a spike in your property rental value, as well as in the value of the property.