Most property managers in Dallas-Fort Worth will tell you that well-maintained homes rent faster, they rent to better tenants, and they always rent for more money. The trick is to stand apart from your competition on the rental market.
One of the best ways to increase your rental value and attract and retain outstanding residents is by providing a modern and attractive property. Making upgrades and updates to the property can help.
If you’re going to commit to renovations, make sure you’re doing the work that will increase the value of your property.
We have some ideas.
Make Appliances Attractive and Functional
Outdated appliances will turn off prospective tenants quickly. They’ll also be expensive to repair. Instead of repairing that dishwasher that keeps leaking or that refrigerator that’s 20 years old, invest in new appliances. They don’t have to be stainless steel, but if you buy energy-efficient appliances for your rental home, you’ll get a lot of life out of those systems and you’ll also have tenants who are happy to pay lower electric bills.
They also look good. Residents will be attracted to appliances that are both functional and aesthetically pleasing.
Kitchens Need a Clean, Modern Look
The kitchen is where most of the activity takes place in a rental home, and good tenants are always going to respond to kitchens that are clean, modern, and upgraded. Upgrades can be easy. Try installing a backsplash to give the kitchen a modern feel. New faucets will make a big difference and even replacing the drawer pulls and cabinet hardware will give your kitchen an impressively updated vibe. Consider your kitchen lighting as well.
Bathrooms Must Be Clean and Fresh
It might seem like there’s not much to be done for bathrooms in your Dallas rental property. They’re small spaces that are designed more for functionality than aesthetics. But, you can do a few things to make them more attractive to your ideal tenants. Change that brassy and dim lighting if it’s still in place, and consider putting in some new fiberglass around the shower and tub. No one wants to take a shower in a stained and worn bathtub. Tile is great for a bathroom upgrade as well. Consider shiny hardware on the sink or extra storage with cabinets and shelving.
Upgrade Your Floors: Hard Surface vs. Carpet
A lot of landlords will simply steam clean the carpets in their rental property during every tenant turnover. Maybe they’ll replace those carpets every five or six years.
Instead of replacing the carpet over and over again, we recommend you consider a hard surface flooring. This upgrade provides several benefits:
- It looks better. Hardwood floors or vinyl laminate or tile have a cleaner, more modern appearance.
- It’s better for prospective tenants who have allergies or pets. There aren’t any fibers to trap dog hair and dust.
- It’s easier for tenants to clean and maintain.
- You’ll get a longer lifespan out of hard surface flooring than you will from carpet, so your replacement costs go down per unit.
We’d love to talk to you more about how to improve the value and appeal of your rental property with some simple and inexpensive upgrades. Contact us at Assign Property Management for all of your Dallas-Fort Worth residential management needs.