If you own a single-family rental property, safeguarding your investment is essential. Renovating your rental property can preserve its value and draw in quality tenants. Identifying which upgrades are worth the investment is key.
Good news—we have inside information on the best upgrades for your investment in Plano. Industry experts suggest the three best upgrades to consider are your appliances, flooring, and fixtures.
Such upgrades can increase both the value and attractiveness of your rental property, making it more desirable to prospective tenants. Why not enhance your rental home with some improvements to make it stand out?
Modern Appliances
The first thing prospective renters usually inquire about when renting a home is the appliances. Keeping appliances up-to-date and functional is key to avoiding deal-breakers for renters and ensuring long-term retention.
To optimize your investment, regularly refreshing your rental property’s appliances is advisable. There’s no need to overspend on the latest and greatest appliances; affordable models work just as well. Aim for appliances that are well-made, have a consistent style, and come with a warranty where possible.
Low-Maintenance Flooring
Refurbishing your rental property’s flooring is a great strategy to boost its value and allure to potential tenants. Carpets in rental properties usually last about five years before they need to be replaced. New carpets can make your rental more appealing to discerning long-term tenants who prioritize well-maintained properties.
It’s also important to regularly clean and replace other types of flooring when required. New grout for tile floors and replacing unsightly or damaged solid surface floors will improve your property’s overall look. Durable, low-maintenance flooring is a smart investment to attract reliable tenants and maintain your property’s value.
Enhanced Fixtures
Minor upgrades can make a substantial difference. Renovating fixtures such as faucets, lighting, ceiling fans, and blinds can significantly improve a rental property. These easily replaceable and cost-effective fixtures make an excellent option for landlords in Plano aiming to upgrade their properties.
Regular fixture updates are vital for maintaining the value of your property. Swapping out simple hardware, such as doorknobs and outlet covers, can make a rental feel more upscale, pleasing tenants. Even these minor adjustments can greatly enhance the look and appeal of your rental property to prospective renters.
Seeking to elevate your rental property’s value, retain residents more effectively, or increase rent levels?
Saying yes indicates that the affordable maintenance solutions from Real Property Management Legend, featuring straightforward upgrades, could be what you need. To learn more about how we can assist you, please contact us online or at 214-227-2404.
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