Renovating a rental property may seem like an unnecessary expense. After all, you’re not living in the property yourself, so why invest in upgrades and updates?
Well, the right renovations can be cost-effective and improve your property’s rental value. You’ll also attract high quality tenants when you have a modern, well-maintained home to offer them.
At Mercer Properties, we’ve been renovating and improving homes in San Diego for more than 30 years. We know how to strike the right balance between cost and value.
Here are some of the renovations we recommend.
Fresh Paint for San Diego Rentals
New paint makes a big difference. It looks clean and fresh. Good tenants aren’t going to rent your property when there are smudges and scratches in the paint. When it’s fading, it looks old and sloppy.
Many landlords touch up the paint on their walls between tenants. This is one way to make a small fix, but painting the entire wall – or even better, the entire property – will really provide an upgrade that doesn’t cost a lot of money or take a lot of time. It gives you the opportunity to present a clean, updated home that tenants will be eager to rent.
Invest in Better Flooring
If you’ve been steam-cleaning the carpets in your San Diego rental property year after year, it’s time to try something else. While installing new carpet is one option, why not consider a hard surface flooring? You don’t have to buy something expensive like hardwoods, but a laminate floor, tile, or even vinyl can make the home look new and a lot cleaner.
This will be attractive to tenants because it’s easier to maintain. It’s better for you too, because you don’t have to worry about carpet stains and you’ll have a longer shelf life with hard floors.
Kitchens: Upgrade Appliances and Design
Kitchen remodels are expensive. Instead of re-doing the entire space, consider something small that will have a lot of impact. A creative and clean backsplash can do the job. You will only have to buy enough materials to cover a small space, and for the investment, you’ll get a lot back. We also recommend new hardware on drawers and cupboards. The cost is minimal.
Think about upgrading your appliances, especially if they’re old and difficult to keep clean and functional. Energy efficient stoves, refrigerators, and dishwashers can help update your space, increase your rental value, and keep utility costs down.
Invest in Modern Bathrooms
Bathrooms are almost as important as kitchens, and if you really want to make a renovation that will stand out, consider upgrading the lighting, the faucets, and even the sinks in your bathroom. You can also do an upgraded floor. Small bathrooms make tile floors possible, and your residents will appreciate the functionality and the aesthetics.
Mercer Properties can design and supervise your project and work with our independent roster of trusted partners to complete your home renovations. If you’d like to increase your rental property value, contact us at Mercer Properties. We also invite you to visit our before-and-after portfolio on our website.