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Updated almost 9 years ago,
Luxury updates to your unit?
Hi everyone, I've been toying with the idea of putting some nice amenities in my rental units to increase rents and reduce vacancies. I recently did an overhaul in my kitchen in my primary and it was fairly cheap, I painted the cabinets white, got a nice laminate countertop (granite lookalike) and just installed a glass mosiac tile, all in I am $650, and it looks amazing. I think this would go over very well with tenants in the area as almost every rental I see being advertised, the LL uses bland materials in the kitchen and baths, I would think I could do each unit in upgrades for around $1500 ( doing bathrooms in upgrades as well) and get $700 instead of $600. I've asked a couple of prospective tenants on facebook if they liked upgrades and if they'd pay extra for them and they said yes that it would be worth it to have a nice rental instead of something plain. I would think that this would reduce vacancies as well, thoughts? All answers are appreciated.