Today we are discussing the topic of upgrades and we’re making recommendations about some of the things you can do to increase value of your rental. In the past few years, there has been a lot of new construction in town, so it’s important for older properties to be updated and maintained properly in order to remain competitive in our marketplace.
The main upgrades we always suggest are to the kitchens, bathrooms and flooring. When it comes to flooring, we like to see landlords put in a faux hardwood throughout the public areas, all the way into the kitchen. You can leave carpets in the bedrooms if they are already there or put fresh carpet in the bedrooms.
In the kitchen area, we suggest a solid surface countertop like granite or Corian. We also like to see upgrades to stainless steel appliances because it provides a nice flow and a polished look when people are walking through your property.
When considering your budget for upgrades and improvements, leave some money aside for curb appeal. This will include your driveways, walkways, plantings, mulch and other things that give your property a nice pop when people arrive.
Washers and Dryers
Years ago, it wasn’t necessary to have a washing machine and a dryer included in a rental property. However today, it’s imperative. Tenants want those appliances and they expect a washer and dryer to be part of your property.