Not all potential tenants look for the same features or amenities in a rental property. Hence, rental property upgrades need to achieve a balance between spending enough to attract high-quality tenants and spending too much without seeing any profit.

By choosing the right upgrades, you get the best return on your investment through maximizing rent and boosting the property value at a minimal operating cost. Making the most out of what you have and making a few upgrades can actually boost the value of your rental home and attract your target tenants. You have a good number of options when it comes time to upgrade your rental property in Houston.

While there is standard turnover maintenance such as painting the walls or making sure the appliances are working, there are a few rental property upgrades beyond these that will help set your listing apart from other rental properties in the market, increase the amount of money you’re able to get for your investment, and, of course, make the tenant pay more money, stay longer, and take excellent care of the property.

Here’s a look at the best upgrades for your rental property…

Upgrades to your rental property that will help increase rent

1. Good, high-quality, matching appliances

If your rental home doesn’t have a washer and dryer, consider installing them. Sure, it may cost you to purchase and operate the equipment, but you’ll be able to charge another $65 to $75 a month. Also, adding a dishwasher is another item at the top of the list when it comes to upgrading a rental property.

2. Upgraded Countertops

Invest in durability, functionality, and a style that will stand the test of time. Granite, slate, quartz, or other solid surface materials may be too much but look for alternatives like ceramic tile and stained concrete that are durable and equally beautiful.

3. New, higher-quality fixtures

Upgrading kitchen and bathroom fixtures like faucets, sinks, and sprayers, or investing in higher-quality light fixtures can boost the look of the rental property. Spending a few dollars on making sure the door handles, locks and window blinds are in harmony and unity with the home’s décor will make a huge difference in maximizing your rent, increasing your home value, and improving your annual cap rate.

4. New, or upgraded flooring

It’s always a battle between carpets and wood flooring, but the ideal choice is to upgrade your flooring. Your flooring has the power to make everything look outdated and dirty if they don’t look their best, so hire a pro to polish if your rental home has hardwood flooring or put in a new floor in certain areas to make cleaning and the floor so much easier for tenants and landlords.

5. Increased storage

Plenty of storage space is an appealing bonus for a rental property. Not only is it a hot commodity, but also one of the top priorities for renters. You can fit in additional shelving in the pantry, or garage, or even add a shed on the property.

Focus on the right things

There’s so much that you can do when it comes to making sure your investment pays off. The benefits of rental property upgrades extend beyond the appeal of the property to the prospective tenants. Of course, not all upgrades pay off and could actually discourage potential renters from showing an interest in your rental property. By thinking long-term and focusing on the right quality upgrades, you’ll be able to attract high-quality tenants, boost your property values, and demand a higher rent.

Work with Apogee Properties

Apogee Properties is Houston’s Premier Property Management Company. We work and live in Houston, and our property managers are local. We’ve been in business for more than a decade, providing comprehensive property management services in the Houston region, ranging from a studio condo to a multi-family million-dollar estate. Contact us to learn more about our property management services, and what we can do for you and your rental property.

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