26 May 7 Easy and Budget Friendly Enhancements for Your Niceville & Destin Rental Properties
Property repair and maintenance often dips into your property earnings as an owner. But there is good news! There are budget friendly ways to enhance not only the property but also enhance your rental income at the same time. Here are seven easy and cost-effective ways to better your rental properties.
1. Change the Cabinet Doors
Many times property owners replace cabinets in their entirety, when it’s often better and most cost effective to replace just the cabinet doors. Make sure you use higher quality solid wood doors though or you’ll be replacing them more often than you originally planned. Renters like to see a fresh kitchen and new knobs and hinges and lack of stains and marks will grab the eye of promising new tenants.
2. A New Coat of Paint
Out of all the upgrades or enhancements you can do to a Niceville or Destin Florida rental property, adding a fresh coat of paint has the highest investment return. When considering this budget friendly upgrade, also consider buying paint in bulk. This will save you in the long run by not having to color match any paint.
3. Replace Old Fixtures
Quick and easy upgrades that immediately refresh a space are new fixtures. A new overhead light or new faucets in the kitchen and bathrooms add quite the impact on potential renters. They are a very affordable way to modernize a dated rental without breaking the bank.
4. Pressure Wash
Pressure washing makes an incredible difference on the exterior of your rental property. It easily refreshes a space that could look weathered or have mold or mildew growing. It brings life to an entryway in a very simple process. If you don’t own a pressure washer, consider renting one at a local hardware store or hiring someone to do the task for you.
5. Refresh the Landscaping
A little time and effort can go a long way when it comes to refreshing the landscape in the front of the property. If you’re just planning on planting some flowers, the cost is relatively inexpensive. Consider planting ornamental grasses that will fill in over time. When potential renters walk through the property, a yard well taken care of gives them the feeling that the property is well cared for as a whole. It gives a personal touch and shows that you appreciate your investment.
6. Install New Flooring
If you have carpet in your current Destin rental property, consider switching it out for a more budget friendly option like vinyl or engineered wood flooring instead. Carpet is easily stained and wears more quickly than a harder surface. It often needs to be replaced after every tenant, depending on the quality of the carpet.
Vinyl or engineered wood flooring needs replacing much less often, which saves you considerably in the long run. If you choose to put in real hardwood flooring, consider increasing your rental rate and marketing the flooring as a luxury improvement.
7. Add a Washer/Dryer to the Unit
Adding a washer and dryer for your Niceville Florida rental property is often more inexpensive than you think. It is also an amenity that brings more potential renters to the property. You can try and find a used set online or buy a brand new set as well. These units do not have to be oversized or have all the bells and whistles of an expensive set. A simple set of units works perfectly fine. You can also charge extra per month in rent for including these in the property.
In order to draw in new tenants, it’s important to keep your property looking up to date and fresh while adding upgrades while also ensuring that you are staying on budget and keeping your revenue up.
Don’t Have the Time For These Improvements? Sound Choice Real Estate Can Help!
Sound Choice offers full-service property management in Niceville, Destin, Crestview, Fort Walton Beach and the surrounding areas. We are dedicated to providing a maximum return on your investment and eliminating hassle and stress.