How to Save Money When Renovating a Rental Property

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Cost-Effective Ways to Renovate Your Home

The up-keep on a rental property can be expensive, but not keeping your rental occupied is even more expensive. The rental market is very competitive and quality residents want to be in a place that makes them feel at home.

If your property is aging, these are cost-effective ways to modernize your property without breaking the bank:

Repaint Your Property

Painting your rental property is the best way to give it a newer and cleaner look. You can ignore this only if your property’s walls and ceilings are in perfect conditions. If you want to save on renovations, then you can deep clean your walls, baseboards, and also trim them in perfect condition. This may work in some cases, but if your rental property’s walls have worn and torn from several move-ins and move-outs, then you need to re-paint them.

Replace the Windows

Replacing your rental property’s windows will improve its curb appeal. It gives your property a good impression and thus, helps attract new renters. It also improves the energy savings of your property.

Renovate the Kitchen

Turn your average kitchen into the “heart of the home”. Appliances complete the look of your kitchen. Replace aged appliances of your unit with modern and energy-efficient devices. Cabinets can be remodeled with new hardware for a more cohesive look.

Install New Flooring

You can embrace various flooring options but renters appreciate hardwood floors over carpet, tile, linoleum as hardwood is more durable and easy to clean. It also gives the home a classic look. Check with suppliers in your area and see if you qualify for bulk pricing.

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