5 Budget-Friendly Renovation Ideas
for Your Rental Property
Renovating your property before you post rooms for rent is a crucial process. Overlooking it might mean fewer applicants and a smaller pool of choices for you as a landlord. Think of it as an investment for the long run. The better your home looks, the more rent you can receive. Moreover, you want to hand over your property to someone who will take good care of it and leave it as they found it. You can rent out rooms multiple times and benefit out of a one-time renovation cost!
Renovations will give you the competitive edge that you need to receive more applicants; YOU can choose between numerous tenants and follow your intuition as to who makes the cut. Not to mention, it will save you future costs of repairs and maintenance if you opt for good quality materials for your renovation.
Home renovations are crucial for long term renting
Since it is a rental property after all, you want to spend as little as possible while achieving a modern and regal finish. Here are 5 budget-friendly renovation ideas before you rent out rooms in your property,
1. Creative furniture and storage to declutter
It’s 2020, and decluttering all the unnecessary things in your home is a priority! The first step to effortlessly make your home look better is by getting sleek and smart storage options. Instead of giant wardrobes, get efficient compartments that can fit into spaces like below the bed or underneath the stairway. This gives an illusion of a bigger home due to more floor space available.
If you plan to only post rooms for rent in your house, modern furniture like futons, foldable beds, and a sofa-cum-workstations will help renters have a comfortable work from home lifestyle. Changing times call for changing styles! With so many innovative solutions available, it is hard to go wrong.
Japanese home-decor ideas like Tatami mats and Ziasu chairs are hugely popular among younger tenants. Minimalism is often preferred rather than going overboard with bulky traditional furniture.
2. Reuse, Recycle, AND reposition!
Since you’re on a budget and being sustainable is new “cool,” reuse as much as you can while renovating your property before you rent out rooms. We’re talking about recycling those old curtains and table cloth by repainting them and setting them according to the other elements of your decor. Recycle old furniture by remodeling it into a contemporary piece or by finding stores that accept old-furniture as a replacement for something new.
Your beautiful home calls for some attention!
Repositioning can change the entire outlook of your room for rent. It can help to highlight the key features that are incomparable to any other house on the block. For example, if you have a picturesque window with sunlight flowing in, add a lovely little reading chair with eye-catching cushions to alleviate the comfort that your home can provide to any potential tenant.
3. Painting over wallpapers
Applying a fresh coat of paint is always advisable before you rent out rooms. This makes the room for rent more vibrant and attractive for prospective tenants. Try to color coordinate your decor with the paint for a radiant finishing touch.
While wallpapers look pretty, painting is more practical
If you’re confused between painting and adding wallpapers to your walls, painting is cheaper and can be done as a DIY project as well. It doesn’t matter if you plan to give rooms to rent in San Francisco or a small city like Tacoma in Washington; Professional help is ALWAYS at your beck and call! Wallpapers are slowly moving out-of-style and can become monotonous to look at after a certain period of time. Installation and maintenance expenses are higher in the case of wallpapers. A few coats of good quality paint with contrasting decor can do wonders to your rental property. Try not to overspend while re-painting, as you might have to re-do it after a year or so, depending on the tenant and their preferences.
4. Light up the nooks and crannies
While renovating your rental room, make sure to have enough electrical connections in all the different areas to install lighting later on. Lighting plays an integral part in the overall aesthetics of your home. It can be used to enhance your home’s unique features while adding a warm and mellow vibe to the room. Not only is it an inexpensive tool for renovation, but it also changes as per your wants and preferences.
Depending on where you live, you may find antique stores and flea markets selling inexpensive lights with a vintage feel. Suppose you want to give out rooms for rent in San Francisco. In that case, you have many alternatives such as Alameda Point Antiques Faire, Alemany Flea Market, and many more such options to get a great deal on retro lamps and chandeliers. The advantage of buying from such markets is that you can bargain your way through an agreement, which is impossible in stores like Ikea.
5. Vinyl flooring
If you have to re-do your flooring and are dreading the cost of changing it completely, Vinyl flooring is your best option! It is relatively new in the market, but it is a convenient and affordable solution to your flooring woes. It adds an excellent finish as it is made to mimic wooden floors. It will save you time and effort as vinyl flooring does not require tedious and chaotic re-tilling, but it is stuck over your old floor. If you plan to post rooms for rent, impress your tenants by layering your flooring with these water-resistant, durable, and simple flooring options.
Vinyl flooring can save not only your money but also your effort and time
If you plan to post your rooms for rent, use these tips and tricks to save some dollars on the renovation and sit back to reap the benefit. Remember, quality is better than quantity, so keep it simple! Happy renovating!