Many tenants are attracted to the rentals they will ultimately choose because of the amenities.
Whether it’s high-tech smart locks, shiny new appliances, or other upgrades, tenants always want clean, renovated units.
If you have the budget for them, maintenance upgrades and renovations are worth your time. Even if you make an initial investment higher than you would like, upgrades will eventually pay for themselves with longer-lasting appliances, durable equipment, and increased tenant attraction.
What’s more, property repair means you can charge a little more for your rentals. Tenants willing to pay a little extra for special upgrades will help you increase revenue.
Here are a few tips and ideas for maintenance upgrades to integrate into your rentals.
Electricity and Plumbing
Electricity and plumbing are basic utilities that every renter should be able to trust. If your utilities aren’t up to par, consider some upgrades.
Since these problems with these utilities are urgent, make sure tenants know who to call. It’s a good idea to have the name and number of an electrician, plumber, water heater repair service, and an HVAC professional on hand. When renters inevitably have issues, you’ll be able to provide them prompt service so they can return to their lives.
If you rent complexes or apartment buildings, it’s also wise to check the AC, heating, and boiler systems. Warn tenants about frozen pipes during the winter and require that tenants keep their units between certain temperatures.
Another upgrade to consider is a water softener system. Water softeners prevent hard water from causing mineral build-up in your pipes and help the equipment last longer with fewer issues. It also prevents potential water leaks and disasters.
Tile Flooring
Tile flooring is another smart upgrade to your rentals. Not only is it trendy and attractive, but hardwood or tile flooring also means less upkeep and repair for you.
Carpet is significantly more challenging to clean than tile, tends to degrade faster, and accumulates stains easily. One accident or spill could ruin the look of an entire room.
Instead of risking these problems, replace your units with upgraded flooring. Laminate and vinyl flooring are highly affordable, while tile or hard-wood floors tend to last much longer.
Upgrading your units’ flooring is more than an aesthetic or cosmetic decision. It offers increased functionality and utility, and generally makes tenants feel better about their homes. Tenants who feel that they live in a nice space are more likely to be invested in keeping their homes well-maintained. Flooring is just one way to encourage your tenants to follow suit with upkeep.
Kitchen and Storage
Tenants spend a lot of time in their kitchens. Cleanliness is especially important in places where tenants wash and prepare their food. Ideally, you want to make this space as nice as possible for them.
Minor kitchen upgrades can lead to a significant perception of improvement. For example, you could upgrade appliances like the oven or dishwasher, install a newer refrigerator with water-filtering, or replace an old stovetop that might even be dangerous.
Storage is also essential in the kitchen. Consider installing open shelving, deep cleaning cabinets, or making space for a walk-in pantry.
Finally, regularly check for mold, especially in places where water may leak, such as under the sink or around the dishwasher. Black mold poses serious health concerns for tenants, and it’s nasty to live with. Be sure you follow the proper procedures for cleaning mold-infested spaces or call a professional to help.
Sustainability
Tenants are increasingly concerned about their responsibility to use sustainable energy. You should also prioritize sustainability in your rental business.
While incandescent bulbs might be more convenient, LEDs are far better for your wallet and the environment. Your tenants will appreciate your attempts to save energy, lower utility bills, and demonstrate consideration for the community.
Another idea for sustainability is to install rain barrels. Rain barrels collect rainwater on roofs for non-drinking purposes, like watering plants. It also limits the chances of flooding, minimizes excess runoff, and puts less strain on the soil to absorb heavy rains. Recycling water also saves you money, especially if you filter the water to use elsewhere.
Upgrading Your Rentals: A Worthwhile Investment
Maintenance upgrades should not feel like inconveniences to your time or money. If they do, consider the benefits of providing upgraded units for your tenants: sustainability, safety, less cleaning, health, and others. With property management software and a small investment and a little dedication to your units, you can save money while creating attractive homes for future tenants.
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