Real Estate Realities: 5 Tricks for Rental Renovations

When you are buying a home to use as a rental property, you may need to complete some renovations. While looking at homes to use as rental properties, talk to a knowledgeable real estate agent about the best improvements to make to improve the value of a building.

Painting the Wall - Real Estate Realities: 5 Tricks for Rental Renovations

Painting the Walls 

When you buy a home to use as a rental property, make sure to paint the walls a neutral color such as white, tan or off-white. With these wall colors, a tenant can move into a rental home with any color of furniture and draperies. While painting the walls, make sure to make repairs by filling any nail holes and dents with putty that dries quickly. This is also a good time to make repairs to a building’s baseboards to prevent insect infestations.

Replace Old Carpeting 

Before moving into a new rental home, tenants want to have clean carpeting. It is better to replace old carpets with a neutral color that looks great with any color of draperies or furniture. By replacing old carpet, you can eliminate additional problems from a rental home, including odors, insects and mold. When you get rid of old carpets, you won’t contaminate a building with the dust left behind by the previous tenants.

Fixed Windows - Real Estate Realities: 5 Tricks for Rental Renovations

Fix the Windows  

Anyone moving into a rental home will want to have windows that are in perfect condition. Walk around the outside of your rental property to look for broken windowpanes or torn screens. When you replace these items, make sure to fill any crevices around the window frames to keep moisture and insects from entering. Use liquid caulking material on the inside and outside of the rental house to prevent any loss of climate-controlled air.

Replace the Countertops  

When someone is looking at a rental home, she will inspect the kitchen first to make sure that there is a place to prepare meals. By replacing a rental house’s kitchen countertops, you can change the entire appearance of a room. It is easy to replace countertops on your own with the right tools and supplies from a home improvement store. Make sure to measure the countertops correctly to fit around sinks and other items in the kitchen.

Insulation to the Attic - Real Estate Realities: 5 Tricks for Rental Renovations

Add Insulation to the Attic or Basement 

New tenants in a rental home want to have low heating and cooling bills, so make sure to add insulation to the building’s attic and basement. You can find rolls of insulation at home improvement stores, and it is easy to install this item on the floor of an attic and the ceiling or walls of a basement. When tenants know that the cost of cooling and heating a home is affordable, they are likely to remain in a home longer.

Maintain communication with the tenants in a rental home so that you can make essential repairs quickly. When a tenant has problems with something in a home such as a broken water pipe or defective electrical outlet, you should make a repair right away to protect your financial investment. Remember to work with a real estate agent like RE/MAX Realty One or someone similar to help you make good decisions about your properties.

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