If you are remodeling a property to rent out, you may wonder what to do to make your rental remodeling budget stretch further. A rental property could be an excellent source of supplemental income. Still, it would be best if you made your property more attractive to prospective renters before you can start the rental process. A property that does not have the amenities your tenants need to live or the spaces that you need to live comfortably on-site with tenants could be setting yourself up for a loss.
The right improvements will ensure that you have plenty of interest in your property, a space attractive to many types of renters, and a rental space with a higher rental value. Here are some of the best rental remodel ideas that you can use to outfit your property and make it more attractive as a rental space for prospective tenants:
Make the Property More Accessible
If your property is not accessible, you could be preventing the chance that you could rent the property to people that have mobility problems. To run a legal rental in many areas of the USA, your property must be accessible for liability reasons. If you are running a rental that does not have wheelchair ramp access, you could be violating your insurance requirements and cutting out the chance for a wide range of prospective renters.
Installing railings and safety bars can also be a great way to protect your property and keep your tenants safe on your property too. Accessible handrails can add extra safety for your tenants and guests while using a ramp.
Hiring a local contractor to install a wheelchair ramp or raised elevator system can ensure you satisfy your rental needs and open up the chance for you to rent to people of all ages and abilities. It’s one of the best rental remodel ideas if you want to rent to older people or have the unit available for an aging family member.
Consider Adding More Storage
Extra storage can play a significant role in making your location more attractive to renters. If you don’t have functional closet space, an extra storage room, or the room your tenants need to store their extra belongings, you could be passed up. The layout of your home won’t be able to change without a serious renovation, but adding new storage spaces like a walk-in closet or a shed can make a huge difference in upgrading the storage in your home.
Closet organizers or features that can help your tenants get more out of their closets can help free up space. If you have older cabinets, one of the best rental remodel ideas may be to seek out new organizers, hangers, and tools to modernize closet spaces.
Shed construction services from a local contractor could help you upgrade your storage quickly and get access to a new area to keep things like your new lawn tools, belongings that take up extra space inside your home, and more. A local contractor can assemble a shed that can include insulation for a different backyard workshop or as a simple storage area to free up floor space in your home. A shed or storage space overhaul is an excellent type of rental remodel idea because it keeps rental spaces more organized for your tenants.
Improving flooring in your rental unit can be an excellent investment for your property and your tenants. Rental remodel ideas for flooring can include installing tile, hardwood, and other resilient and easy-to-clean types. These will have greater longevity than carpets, and they can significantly update the look of your property.
A local contractor for flooring can recommend the best type of flooring that will suit your rental unit and budget. You could choose from options like engineered hardwood, ceramic tiles, or even vinyl-style flooring that can be installed more efficiently and in a faster time than traditional hardwood. An upgrade to your flooring makes it much easier for your tenants to handle the upkeep, and you will also enjoy higher rental values.
Remove Unwanted Bugs and Pests
No prospective tenant will look at your space and consider it for rent if it has bugs. A good pest control company can inspect your place for pests and get rid of them if an infestation is found. Regularly scheduling pest checks with a local exterminator can keep your site cleaner and free of infestations. Pest control is crucial for rental remodel ideas as you won’t be able to rent a home with bugs or an infestation.
Even if you don’t believe your property has a pest problem, regular inspection can help reveal the signs of trouble early on and eliminate pests before they become a huge problem. If you have spotted pests in your home or a property you’ve bought to rent out, you need the help of a good pest company to keep it free of problems.
Invest in a High-Quality Roof
Your roof is one of the most critical structures in your home or with any property you own. A local roofer should check the roof of your property at least once a year to check the quality of the shingles, the structural integrity, and if all the waterproofing systems are still in place throughout your roof.
If you are not regularly investing in your roof, you could face some severe costs in the future through roof rot, damaged roofing materials, and even structural material issues. Without a quality roof to shelter your property, other problems could also cause costs, including water damage.
Consider investing in upgraded roofing materials like a metal roofing system. These can last longer than traditional asphalt shingles, and they will often improve the value of your home. Any investment you can make in your roof to enhance its longevity will help with tenant satisfaction and keep costs down. A roof should always be top amongst rental remodel ideas.
Upgrade the Backyard
Tenants want to ensure they have plenty of spaces for entertaining and leisure in a property. Having outdoor spaces for entertainment and extending the square footage of a rental can be a huge selling point when attracting new renters.
A patio or deck is one of the most cost-efficient upgrades for the backyard. Patio builders can get to work quickly and build an effective platform that can serve as an entertaining space for years. An outdoor patio is a beautiful spot for extending the square footage of a unit and giving your tenants a place to enjoy the outdoors. A patio could be the perfect setting for an outdoor BBQ or reading space. This upgrade to the backyard creates a spot for your tenants to relax and enjoy the backyard space you have, and it can cut down on lawn maintenance by reducing weeds and the area of grass you need to manage.
Because of the reduced maintenance and improved rental value, a patio can be a great rental remodel idea.
Turn the Bathroom into an Oasis
A bathroom can have a significant impact on improving your property. Taking on other upgrades like kitchen or basement refinishing can be costly, but upgrading a bathroom offers the perfect budget upgrade as a rental remodel idea.
If you’ve got a small bathroom, you could consider a glass shower door or installing a shower stall to save on space so that there is more room in your bathroom area. Taking the time to improve your bathroom can ensure you will have a better experience renting your home and keeping your property updated.
New sinks and fixtures or upgrading the flooring to tile can significantly impact the quality of your rental. A bathroom can be like an oasis with the proper care and upgrades. Speak to a local contractor, and you can devise a plan to make the most out of your bathroom spaces to attract new tenants.
Modernize the Kitchen
A kitchen needs to be modern to attract tenants. If your kitchen needs updating or you have limited space to work within your kitchen, Kitchen remodeling services can help you. A local contractor will help you update your storage space, maximize counter space, and update the flooring. Adding extra amenities to your kitchens, such as a dishwasher or garbage disposal, might also attract new buyers and add further value to your property.
Work with your local contractor to determine which rental remodel ideas could help you improve your kitchen; you should be able to find a setup that is more desirable for renters. Modernizing the kitchen is one of the best ways to add value to your home and make for a more functional cooking space.
Add Features to the Pool
A pool can be a valuable way to attract prospective tenants to your property. Your pool deck area and the tools you use for caring for a pool can help you keep your home at its best. A popular rental remodels idea for many pool owners is a retractable pool cover. This automatic feature will help you put your pool cover on and take it off with a simple crank or an automated push of a button. Choosing one of these features for your pool will ensure that you can better care for your pool area and keep your tenants happier.
A specialty cover may also free up some extra space on your pool deck. The latest cover designs can store away in a specialty box or roll up tightly to free up extra deck space for entertaining.
It isn’t easy to care for a pool on a property where you are not living but having an amenity like a retractable cover can be a helpful touch for your tenants and for anyone that you have tasked with cleaning up the pool.
Update the Driveways and Walkways
Updates to your walkways and driveways can improve your property’s safety and make sure your location looks its best. With asphalt paving services, you can keep your walkways, driveways, and other pathways throughout your property looking brand new. Finding a trusted paver and getting asphalt paving done with a regular frequency every few years can prevent it from cracking.
Updates to your driveways and walkways can be a crucial step before you start to show your property, and it’s a beautiful measure that you can use to keep your property looking fresh and new. Keeping your pathways at their best should be top amongst budget rental remodel ideas.
Create a New Gathering Space
Gathering spaces outside is one tool you can use to maximize the square footage of your home and the entertaining space in your home. New Gathering spaces like basement finishing can be an excellent rental remodel idea and a way to add value to your home. Finishing a basement is an excellent idea if you want to significantly improve your rental value and have more space for your guests to gather in a property.
A basement renovation, or ultimately finishing an unfinished basement, is one of the most expensive renovations you may take on, but it is also one of the most valuable for improving the overall value of your home. A basement renovation or converting space to an entertaining area in the basement is the best way to add usable square footage to your property. Many people also take on basement renovations to create extra rooms or separate units for rent to prospective tenants.
No matter what your choice may be for property improvements before renting, each of these solutions can help you attract more renters and see improvements in your rental values. If you are going to be renting your property or renovating a property to rent, consider any of these steps for work you should commit to as rental remodel ideas.