Six Cost Effective Landlord Improvements

6 Cost Effective Landlord Improvements

As a landlord or property manager it is always important to keep 2 things in mind with your rental units…appearance and costs.  Here are 6 cost effective measures that will make your next vacancy a little easier to rent out and at the same time not break the bank.

1)       New and Improved Doors-  This can actually be a double benefit.  On top of being a maintenance eyesore, many older doors, although they add charm are loaded with lead paint and also easy prey for chipping paint.  Cost $20-$30 per door.

2)       Change the Outlet & Switch Covers- Add some class, don’t just paint over them when rehabbing a unit, put in new ones.  Costs $1-$5(if you go all out for some brass).

3)      New Front Door- That 1^st impression is important even to renters.  Cheap or broken doors leave a lasting impression on anyone interested in renting.  Cost $125.

4)       New Shower Curtain- Don’t show a property without one, it just cheapens the appearance so much.  Cost $20-$40.

5)       Kitchen improvements- American’s spend so much of their time in kitchens it is so important to make this area shine for you even as a landlord.  Some quick improvement ideas: paint the cabinets, change out the faucet, change the hardware on the drawers and cabinets.  Cost $5-$200.

6)       Clean It-Make it shine! Again, this goes back to the 1^st impression.  Spend the money to have a cleaner come in for a couple of hours and clean it up.  Cost $50-$100

Renting an apartment isn’t much different than selling a home.  It needs to show nice.  Do you want the tenant who doesn’t care much about the appearance and is most likely not going to care about their tenancy the same way or do you look for the tenant that cares and will treat this apartment with the same care they would with their own home?