A property that is well maintained will be able to ensure that the tenants are happy and you will also be able to get higher rents. It will be a good move for the investors to put in some money into the existing assets in order to increase the rental returns. But the trick is to know what you should renovate so that you will be able to increase the value of the property as there is no point in adding something to the house renovations that will be of no value to prospective tenants. When you start your house renovations you should remember a few things to get the best out of it.
House Renovations Tips
- Do not use the same stringent standards that you would mostly apply when you are renovating your own home. But that does not mean you will have to do an over-priced renovation because the prospective tenants are not going to maintain the house in the same standard anyways.
- You should be able to give the tenants a vision so that they will be able to visualize themselves living there. If you are planning to rent it out to a family then you should probably add a swing set in the garden, or a nursery in the house.
- All the rooms and areas that are too dark should be brightened by adding lights or painting the wall using a brighter color. You could add some additional floor lamps so that it will look brighter.
- If the property is very dusty and dingy then you should get it cleaned. It is better to use a professional service for doing this as they will be able to do a thorough job.
- Furniture will be a good way of making a house that is desolate and vacant look occupied. You should not add too many furniture pieces since the tenants may bring their own.
- Instead of getting everything replaced in the house during the house renovations like wall paints, ceilings, and carpets, you should first consider repairing it. Replacing a carpet will be more expensive than hiring a cleaning service for washing it up and getting a carpet that is almost good as new. You do not need to repaint the walls and ceiling as you can use some type of erasers to wipe out the smaller marks. Only if there is a huge stain then you should consider repainting.
- Kitchens and bathrooms are the most important areas in the house to consider during house renovations. The tenants will not want to live in a house in which the bathrooms are moldy and the kitchen is completely dirty. So that is why you should make sure that you upgrade all the appliances and fixtures in the kitchen and bathroom respectively.
- When you consider the things that should be replaced, do not forget door handles, toilets, old lightings, cabinet hardware and faucets. If these items are old and rusted then the tenants will hesitate to rent that property as it kind of detracts from the pleasantness of the place.
- Additionally, carry out minor forms of landscaping in order to increase the exterior appeal of the house. Mowing and cutting out the edges in the garden, planting new plants, and adding new pathways in the garden will give it a natural look and you will be able to impress the tenant easily.
- The most important thing that you should ensure before you could rent your house is to check if all the safety systems are working properly. This is because all tenants will want a house that is safe and secure so if you have everything in place then you will be able to rent it out quickly.
The bottom line is, implement house renovations to make it presentable and appealing to prospective tenants, and increase your chances of renting it out at the earliest.