Spring is soon upon us and the nice weather provides a great opportunity to do a few upgrades to your Colorado Springs rental property. Upgrading your rental is a great way to keep up with current trends and increase your rent. So, what upgrades should you focus on?
What to Focus on When Upgrading Your Rental
Nothing says “refreshed” like a brand new paint of coat. Whether you’re just touching up the current color or slapping on a brand new one, adding a fresh coat of paint is a great project to add to your upgrade list. Not only does it keep your property looking good, but it’s also a great marketing factor! Just be sure to protect your floors!
Are the carpets in your rental looking a little worse for wear? Maybe it’s time to replace them! Upgrading your rental flooring is also a great project that can lead to increased rent. There are multiple options, many of which are not only durable but cost-effective, too! You can choose to redo the carpets or go with something completely different like vinyl, linoleum, tile, hardwoods, or laminate.
Refresh the exterior of your single family home rental by upgrading the landscaping. Fix up bare or dry areas by adding new sod or grass seed, and plant flowers or bushes in key areas. Spruce up any trees or shrubs by trimming them and clear away any debris build-up.
Get rid of any old light fixtures and replace them with new, energy efficient ones. Doing so not only adds to the look of your rental property but can also save your tenants money on their energy bills. It’s a win-win for all!
Bathroom and Kitchen Upgrades
Your kitchen and your bathrooms are two areas where upgrades that add the most to your rental property. Redoing the counters, fixtures, and cabinets or upgrading the appliances are all great ways to boost your rental rates, and also increase the overall value of your home. Just remember that depending on the extent, these upgrades can run a little high. Be sure to budget accordingly.