Sunday, November 22, 2020

Cheap Ways To Update Your Rental Property

When it comes to making money on investment properties such as apartment buildings, the time you put into keeping things both attractive and functional will be paid back to you in the form of consistent tenants. Here are some simple ways to spruce up your older rental property without spending a fortune.

Repaint Inside and Out
Any designer would tell you that a fresh coat of paint can go a long way in making a space feel fresh and clean. If your apartment complex is starting to look a little shabby, repainting it can immediately grant it a new breath of life. If possible, repaint the exterior as well as the interior, as curb appeal definitely adds to your chances of keeping renters.

Refinish Interior Surfaces
Whether or not the surfaces in your apartment lobby and common areas are considered "high end," they could probably use a little TLC. A deep clean and refinish on flooring, countertops, elevator touch pads, and even window trim can really work wonders in making everything look crisp and inviting. By investing in projects such as metal refinishing Manhattan NY apartments immediately set themselves apart from the competition. 

Add Contemporary Trim
If you take a look at any newer multi-resident buildings going up across the country, you'll find that many of them are leaning towards a contemporary design on the exterior of the building. While you may not have much control over the "bones" of your building, you can add a contemporary twist by looking into low-cost options for window and door trim. Many of today's options are made from materials that are durable and easy to clean, while replicating more expensive looks, such as natural wood or aluminum siding.

The truth is, you don't have to spend a fortune to make a big difference in the way your property looks and sells. By repainting and refinishing major surfaces, adding contemporary trim, or looking into other ways you can update the feel of the building, the chances of keeping your investment property full of happy tenants will improve greatly.

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