When it comes to rental properties, appearances truly matter. Since most renters cannot change things like paint or fixtures themselves, they are not willing to settle for a rental that looks ugly. Landlords who take the time to stay up to date on current trends can make more money by making properties look more modern. Just a few simple changes can make a huge difference in how a rental property is perceived.
Switch to Stainless Appliances
Most renters agree that they find stainless steel appliances more attractive. This type of appliance automatically makes a kitchen look more up to date than a basic, matte white or black appliance. Since kitchens are one of the things renters are willing to pay more for, this simple appliance switch pays for itself.
Add Trendy Fixtures
Fixtures are one of the simplest things to upgrade in any rental. Cabinet handles, doorknobs, sink faucets, and lights can be changed in under a day. Current trends are moving away from busy, shiny, and ornate fixtures to more delicate or minimalist designs. However, fixture styles are continually changing, so this is something landlords need to do a little research on and update every five years or so.
Change the Color Palette
Color is one of the most significant factors in a first impression. The warmer, darker, earth-toned hues so popular a few years ago can now make a building look very dated, and renters may worry that the shades will clash with their belongings. Lighter, cool-toned color palettes like grey and white tend to be more appealing to renters.
Open Up the Floor Plan
Almost all renters say they are looking for buildings with open floor plans. Most younger people do not care about having separate dining, gaming, cooking, and entertaining rooms. Instead, they like an open living and cooking space with just a few private areas for bedrooms and bathrooms. As long as the walls in a rental property are not load bearing, it is very easy to remove them.
Add Online Management Opportunities
Refurbishing a rental can also mean rethinking the way the rental is handled. Modern customers want to be able to browse floor plans on a website, pay rent online, and manage maintenance requests over the internet.