5 Unexpected and Awesome Upgrades that Won’t Break the Bank

As a rental property investor, one of your biggest priorities is in keeping your unit occupied. A tenanted unit is one that is making money, so ensuring you have renters in place is one step closer to ensuring that you get paid. Attracting and keeping tenants is the key to doing this, so it’s important that you make your property is one that will appeal to renters. Here are 5 easy and inexpensive ways you can upgrade your unit to make it one that people will want to call home.

1. Shower head. A shiny, new shower head with luxury features (think rainfall or adjustable settings) will make your tenants feel like they’re at the spa, and it won’t set you back that much to do it. Plus, you can even go for a low-flow option that will help conserve water AND save on the monthly bill. Win-win!
2. Light fixtures. Take a look at the lighting in your rental. Is it old? Dirty? Just plain ugly? Upgrade it! Light fixtures can be purchased fairly inexpensively, and they can completely transform a room. Check your local hardware store or online for great pieces that will lend a modern, clean look to your unit that tenants will enjoy for years to come.
3. Kitchen organizers. The kitchen is usually one of the first places in a home to become cluttered, especially if it’s a place that’s used a lot - and chances are, it is. Installing a few organizational features, such as pull-out or compartmentalized drawers, can do wonders for a would-be messy kitchen, and it’s a feature that you definitely won’t find in many other rentals.
4. Custom shelving. Speaking of organization, installing a few custom shelves in the home will give your tenants places to store things AND kick up the unit’s overall aesthetic appeal. Bathrooms are a great place for custom shelves, as are central living spaces and bedrooms. Whether they’re used for functionality or purely for looks, custom shelves are a huge bonus that can be easily added without a huge hit to your pocketbook.
5. Hardware. You may think that such little pieces wouldn’t have such huge impact, but you’re wrong. Swapping out hardware throughout your rental - or just in key places - can completely change the vibe of a space. One of the most popular options for hardware replacement is on kitchen cabinets. Handles and pulls can be purchased for just a few bucks each, and you’d be surprised at how effective they are in upgrading this important room. Other pieces of hardware to consider include sink faucets, doorknobs, and light switch and electrical outlet covers. If any of these are in bad shape or just look really dated, it might be time for an upgrade.

The word “upgrade” does not have to mean some big ticket purchase, like granite countertops or new wood floors. Upgrades can be simple and inexpensive, too. As long as your tenants are impressed by them, that’s all that matters!