The biggest mistake for Landlords is to renovate their property to meet their personal style or needs. There is no need for expensive carpets or lighting … always focus on the market requirements AND your budget.
Here are a few tips for “rentvestors”:
Floorboards always offer great value; stylish, durable and require limited cleaning. You could also consider fade and stain resistant carpet, or wood-look vinyl flooring.
Extension: to build or rebuild
Rejigging a property can be worthwhile. More space and light can add value and maximise your return on investment. Tenants value an extra bedroom, an extra bathroom, or a car parking space.
Get new tiles if possible, or regrout the existing tiles to refresh them. Ensure toilets/bath/shower are cleaned thoroughly and replace the shower curtains for added freshness. Natural light in bathrooms will always improve the space.
Put up new blinds/curtains
Use simple window treatments to block out light, conceal ugly frames or hide an outlook not worth viewing. Aluminium blinds are a good touch – they look clean and go really well with stainless-steel appliances and door handles. Sheer floating white curtains or flax-colored linen curtains off-the-shelf can also be an inexpensive solution.
Wash the walls and repaint them
Keep your colors neutral throughout. Choose a light color on the window frames to draw the eye outside, making the space feel bigger.
Tenants will pay more for a property with air-conditioning.
Take all rubbish away inside and out
Leaves and garden waste.
Look for inexpensive materials that can be easily replaced.