Renovation and decoration of rental property can help attract tenants and get higher rents. However, rental property owners usually find it hard to decide whether it would be worth spending a considerable amount on property that is going to be inhabited by tenants, who might not even take good care of it. Another major apprehension is whether the capital outlay on renovation will pay itself off or not.

However, it is important to understand that renovations can not only help attract tenants, but it will also increase the value of the rental property. So, it is best to go in for renovations that will add most value to the property without breaking your bank. Here are some ideas that will give most bang for your buck:

Get carpets, ceilings, and walls repaired
Rather than straightaway jumping to replacing your carpet or drapes, consider getting them washed and cleaned from professionals. It will give them a fresh look without requiring much expenditure. Also, get your walls and ceilings repaired and painted to make them look clean and bright.

Clean up thoroughly, remove all garbage
No one wants to live in a dirty house. If your previous tenants have left ugly marks and garbage in the house, make sure you give it a thorough clean up before you stage it to potential tenants. Hiring a professional maid service is not a bad idea if the state is terrible.

Replace the fixtures
Bathroom fittings, door knobs, cabinet hardware, faucets, toilets, and blinds may require replacement after a few years. If the fixtures have become dirty, rusted, or non-functional then spending a few hundred dollars on replacing them will certainly pay off.

Update the bathroom
Small updates in the bathroom can make a huge difference to how potential tenants conceive your house. New shower heads, door knobs, clean bath tubs, and taps can give a modern look to your bathroom, and add considerable value.

Renovate the kitchen
The kitchen is believed to be the heart of every home. Every tenant would focus on how well maintained and equipped the kitchen is. If your kitchen looks dingy and has a look of the 70s, it’s high time you give it a makeover. If you are low on budget, a splash of paint on walls, new fittings, a fresh coat of paint on the cabinets, and new door knobs can go a long way in impressing the potential tenants.

Improve storage
Tenants love houses that have good amount of efficient storage space. So, adding a closet or built-in wardrobe can add substantial value to your rental property.

Landscaping
As they say, first impression can be the last impression. You would not like to greet your potential tenants with unkempt lawns and overgrown trees. So, mow your lawns, give your flowerbeds a glow by spreading some mulch, and cut the overgrown shrubs or trees.

These renovations may not cost you a fortune, but they will make your rental property worth calling home. Tenants would not mind paying a slightly higher rent for a house that is clean, aesthetic, functional, and well maintained. So, go ahead and give your rental property a facelift.

If you need advice or assistance in managing your rental property, you can get in touch with experts at REAL Star Property Management.