As property managers in Atlanta, we are always thinking about ways to increase the rental value of the homes we manage. Our goal is to boost your property appeal and attract high-quality tenants. We want to comfortably raise your rents to the maximum that the market will allow. Upgrades & updates are an excellent way to achieve that! In the past we’ve talked about the importance of fresh paint, clean floors, updated windows, good landscaping and curb appeal; today, we want to focus on finishes!
High quality finishes can be your secret weapon when it comes to upgrading your Atlanta rental home and in turn increasing its value. Quality finishes are cost-effective, easy to notice, and they can change the whole look of your rental space! Updating your finishes is a great way to secure outstanding tenants for the most amount of money.
Let’s take a look at how to boost your property appeal with the right finishes and details.
Stainless or Modern Appliances in Your Rental Kitchen
New, modern appliances will help you attract and retain tenants. Better quality refrigerators, energy efficient washers & dryers, and water efficient dishwashers will easily get the attention of tenants and increase your rental value. Even a new microwave can make a big difference.
Appliances are an important part of any rental home. Tenants are going to use their oven, stove and refrigerator on a daily basis. The kitchen is one of the most important rooms in any house, and the happier they are with their appliances, the more likely they are to renew their lease agreement, pay rent on time, and contribute to a positive rental experience. Not to mention, maintenance and upkeep on older appliances can get to be costly overtime.
Stainless steel is the best possible finish you can choose for your appliances. However, you don’t have to invest in stainless if it’s not in the budget. As long as the appliances match, work well, and look good, you are bound to boost your property appeal!
Energy efficient appliances are also a huge selling point and becoming increasingly popular among renters, and for good reason too! These appliances work smartly, conserve water, and consume less energy, thereby cutting down on utility bills. Outdated appliances can cost significantly more to run than the newer, energy-efficient appliances.
There are also fewer repair costs for you when you invest in high quality appliances. Outdated appliances are more prone to break down and require repairs frequently. These costs can quickly add up over time, cutting into your profits and taking a toll on your tenants' patience as well as their overall satisfaction with the property. By investing in newer appliances, you can avoid these repairs entirely and save yourself the headache and cost for the long term.
Install Tile Backsplash
Another great kitchen finish that will make a difference is tile backsplash. This can easily be installed behind a stove or sink, and on any wall above a countertop in your rental property’s kitchen.
Tenants will notice and appreciate the backsplash, plus It makes cleaning easier! It also protects your investment property against water intrusion and moisture. Backsplash tiles are easy to install and, if necessary, to replace. New tiles can change the entire look of the kitchen, and this feature will help you market your property to excellent tenants.
Faucets and Fixtures
Invest in good faucets and high-quality fixtures when you’re preparing your property for the Atlanta rental market. We always advise property owners to focus on the kitchen and the bathrooms when they’re thinking about renovations and upgrades. These are the most important spaces for tenants, and it’s what they notice first when touring your home.
You can buy a high-quality faucet for less than $100 which makes this upgrade a fast and low cost way to upgrade the appeal of your home!
When you’re upgrading the faucets in your kitchen or your bathroom, always consider the durability of the faucet you decide to install. Think about approaching the sink from the perspective of your tenants. Will they be twisting the water on? Pulling a lever? What will be touched and how easy will it be for them to reach? Ideally, the faucet you install will last for a decade or longer, so you want to put some thought into the buying process now.
Functionality is critical, but you’re also trying to boost your property’s appeal, so you have to consider aesthetics, too. Choose a faucet that looks good. Finish is important. Chrome is becoming popular, but you can also go with stainless steel or brushed nickel. Brass faucets can look dated, but when installed in the right sink, they really stand out.
Improved Lighting in Rental Properties
Lighting is important, and you want to make sure you’re installing light bulbs that are energy efficient. Tenants won’t have to replace them as often (if at all), and their energy bills will be lower.
There are several excellent ways to upgrade your lighting to boost your property appeal. Here are a few:
Put in ceiling fans. This is especially welcome in the bedrooms.
Consider a stylish sconce. If you have wall lights, replace them with a sconce. It provides mood lighting and can set your property apart from other rentals.
Consider wireless lights. Strategically place lights under cupboards, on kitchen counters, or even on top of shelves in order to provide a bit of light in the evenings without flooding the home with bright lights.
Tenants are looking for lighting that not only looks great but makes them feel safe. Upgrade your outside lighting as well. Invest in a strong porch light so tenants can see who is out there before they open the door. Consider motion lights on the garage or any outside structures such as sheds. Make sure the property is well-lit, especially if you have a parking lot or common areas in a multi-family building.
We know that renovation budgets can get out of control. But, if you focus on investing in high quality finishes, you’ll find you’re able to boost your property’s appeal and your rental value.
We’d be happy to make some customized suggestions based on your unique property. Please contact us at Clients 1st Property management for more information.
The Clients 1st Team brings you decades of combined real estate industry experience and over 30+ years of experience in property management in metro-Atlanta and the surrounding areas. Our award-winning team provides quality, reliable service for our homeowners, buyers, sellers, tenants and investors.