When you rent out a property, your renovation options can be limited. You don’t want to spend thousands of dollars, especially if you’re not sure your tenant will take care of the property. However, there are a few small, cheap, and easy cosmetic changes you can make that will alter the look of your rental.
Install New Handles
Look around the property and make a list of everything that has handles. This includes kitchen cabinets, bathroom cabinets, and doorknobs. Each of these can be replaced with something new and that makes a statement. Even the most expensive pieces will only cost $5 to add and will create the impression of brand new cabinets and doors.
Update the Lighting
Most apartments come with ceiling mount light fixtures that are easy to replace without any rewiring involved. Simply pick out the new fixture, unscrew the old one, and replace it with the new. For an even easier project, just swap out the light bulbs. Changing the brightness and temperature of your bulbs can completely change the look of a room. While you’re changing the bulbs, consider upgrading to smart lighting. Tenants will love changing the color and brightness of the lights and being able to turn them on and off through an app or a simple “Hey Google.”
Change the Faucets
Most kitchen and bathroom faucets are easy to replace. First, find out if the faucet mounting type is a single-hole (a single unit), centerset (have three holes and a single mount), or a widespread (three separate pieces: the spout and two handles). Next, simply go to the store and find a faucet you like with the same mounting type. Instructions to replace the old one should be included on the box. While you’re doing this, it might also be a good idea to replace your showerheads as well.
Create a “Feature Wall”
An easy way to make your property stand out from the rest is to create a feature wall that catches potential tenant’s attention. There are many ways to achieve this depending on the look you’re going for. It could be as easy as a new coat of paint, picture frames ready to be filled for a photo gallery, or a wall-to-wall bookshelf.
If the property doesn’t already come with crown molding, you can easily change the look of a room with a little trim. If you’re handy and willing to put in a little work, this is a great option to redefine your property. It doesn’t have to be dramatic or gaudy; a simple, single shape, single depth piece of molding will upgrade the look and feel of a space.
Add a Fresh Coat of Paint
Painting your property is one of the highest returns on investments for any rehab budget, and instantly brightens the property and makes it appear updated and fresh. When looking for a color to buy, we suggest using a more neutral color. Anything such as grey, light brown, white, etc., will look great. Just be sure to use a lighter color to really make the room feel bigger and brighter.
Pro-tip: Buying the paint in bulk can save you lots of money. So, if you have multiple properties you are looking to renovate, buy the paint in bulk. Also, try negotiating the price as well. Lots of times if you open up a company account, you may be able to secure a greater discount.