The Treasure Valley and Boise area is a great market for landlords and property managers. Whether your own a single rental property or manage dozens, here are some simple, cost-efficient tips to increase the value of your units.
Resurfacing: Cabinets, tubs and showers will inevitably go through some wear and tear. But, if they are still in good overall shape, consider resurfacing rather than replacement. Compared to full replacement, this requires much less up-front cost and is an improvement that will last for years when done correctly.
Update hardware & fixtures: Remember that really shiny brass that was popular from the 80s and through the early 2000s? Doorknobs and faucets are often one of the most obvious signs of age. Luckily, they can all be replaced fairly easily and inexpensively. Oiled bronze or brushed nickel is a much safer bet in this day and age … And adding or changing harware on cabinets, especially if combined with refinishing, can update the entire look of a kitchen or bathroom.
Replace a backsplash: With minimal effort and at around $5/square foot, replacing tile backsplashes in kitchens and bathrooms is another way to update those rooms without a fullscale renovation. Depending on the configuration, this can sometimes even be done without removing appliances or cabinets. To up the wow-factor without breaking the bank, consider using more impressive (expensive) tile behind a range with coordinating cheaper tile throughout the rest.
New blinds: Whether it’s stained wood blinds or mini blinds that are missing parts of slats, blinds in anything other than top condition can be an unwelcome distraction for potential tenants. Thankfully, replacements can be put in quickly and easily. Depending on the required measurements, you may be able to get them relatively inexpensively. Wood blinds will cost more than vinyl, but they’ll also last a lot longer.
Front door: Quickly increase the curb appeal of a home by creating an inviting entrance. If it’s still in overall good condition, consider repainting the front door. New house numbers can make a world of difference—especially if you opt for metal ones that match exterior fixtures and in a modern font. And with lots of options under $100 and the ability to repaint it if necessary, there’s no excuse for a rusty mailbox out front.
What do you think? Would you consider any of these simple renovations for your rental unit?