OWNER LOGIN     TENANT LOGIN        
× Search

 

 

 

Property Management Blog

 
     

12 Rental Property Improvements You Can Make for Under $500

Jul 22 2017

Need to upgrade a rental unit on budget? Here are 12 improvements landlords can make for under $500 each.

12 Rental Property Improvements You Can Make for Under $500

1. Paint

You may not be able to paint a whole house for $500, but you can enhance key rooms and create accent walls. Trending colors this year may include grays, beiges, greens, and pinks.

2. Change Out Flooring

The same applies to flooring. In cheap rentals, you may be able to use vinyl or focus on small, key areas of flooring. Putting new flooring in small entry areas and bathrooms or replacing the carpet in that one ugly bedroom could make a big difference in renting quickly and for more money.

3. Patch the Roof

Roof leaks can cause major havoc with rentals. They can quickly deteriorate your asset, cause ballooning repair bills, add to the maintenance interaction burden with tenants, and can lead to damage of renter belongings, which you may be on the hook for. In many cases you don’t need a new roof, just patches.

4. Add Smart Home Tech

Add some trendy new tech to make renters feel great about their choice. That could be smart locks or smart thermostats, better wifi, or new Google Home devices.

5. Bring in a Bar

You may be able to expand countertops or bring in a standalone bar, which really adds to the excitement and emotional appeal of a place.

6. Resurface Cabinets

Replacing kitchen and bathroom cabinets can be expensive and a lot of work. Instead, look at options for resurfacing existing ones.

7. Add a Backsplash

Kitchen backsplashes can make a massive difference in the appeal and perceived value of a home.

8. Consider Flex Office Space

Working from home is fast becoming the new norm. Many remote workers soon find that working from the sofa isn’t as effective as they expected. You may not want to reduce bedroom counts by turning one into a home office. However, you may be able to create some flex space with a cabinet, pantry, or Murphy bed that enables quick changes between daily living space and the office.

9. Finish the Garage

Finished garage spaces add a big “wow” factor and more value. Even on a tight budget, you may be able to finish walls, add flooring, install storage, or put in office furniture.

10. Replace Hardware

Replacing front door and cabinet hardware can have one of the best returns of any home improvement.

11. Stage the Home

Staging can be powerful for marketing rentals. You can do this virtually for less than $500—or bring in some extra furniture or rented furniture temporarily.

12. Replace Appliances

Appliances are a big deal to renters. Replace microwaves or dishwashers that are broken, consider adding a washer-dryer, or lease new appliances as a staging move. You can choose whether or not to include the appliances for the duration of the lease.

Blog Archives

Blog Categories

Blog List

Apartment Management
 Web Master
 9  60  12/20/2016
Association Management
 Web Master
 4  12  2/23/2010
Commercial Property
 Web Master
 3  9  8/15/2014
Home Improvement
 Web Master
 3  0  3/11/2010
Homewatch Services
 Web Master
 3  6  5/25/2009
Onyx Management news.
 Web Master
 21  67  11/23/2017
Landlord KnowledgeBase
 Web Master
 24  48  5/18/2017
Property Maintenance
 Web Master
 13  45  3/20/2017
Property Management
 Web Master
 38  34  6/24/2017
Property Management
 Web Master
 29  38  4/22/2017
Real Estate Investment
 Web Master
 28  69  6/10/2017
Rental Property
 Web Master
 50  146  8/27/2017
Tenant Relations
 Web Master
 35  142  9/3/2017

Tag Cloud

Terms Of Use Privacy Statement Copyright 2006-2018 by Onyx Management Group, Inc.