Minor upgrades to New Construction?

Question

Hello,

We are about to close on a new construction and I am considering adding a few features that I believe could help shorten time to lease:

1) Installing an EV outlet in the garage

2) it's a relatively small 3/25 (1400) so thinking of adding a double pull-out trash can and overhead storage racks in the garage to maximize space

3) Swapping out builder grade fans in the living room.

The closest comp rented at my target rent and it didn't have any of this nor did it come with appliances (mine does). Am I doing too much

Michael Eskenasy · Answer

@Dozie Eme -

Dozie — I don’t think you’re doing too much, but it helps to separate upgrades that help leasing velocity from upgrades that are mostly personal preference.

A few thoughts:

EV outlet – This is becoming more relevant in certain markets, especially newer developments where tenants may already own EVs. It probably won’t increase rent directly, but it can widen your tenant pool and make the property stand out slightly.

Garage storage / pull-out trash system – These are nice usability features, but in my experience they rarely move the rent number. They’re more about making the property feel well thought-out.

Builder-grade fan swap – This one can actually matter more than people think. Builder-grade lighting and fans are one of the quickest ways a new build can still feel “cheap.” A few upgraded fixtures can make the house show much better in photos and during tours.

The other thing to keep in mind is that time-to-lease often matters more than squeezing out an extra $25–$50/month in rent. If a few small upgrades help the property rent one or two weeks faster, that can easily pay for itself.

Since your closest comp hit your target rent without appliances, you’re already in a strong position. The appliances alone may be the biggest differentiator.

If it were me, I’d focus on a few visible upgrades that photograph well, rather than adding lots of smaller features tenants may not notice.

Ed O. · Answer

It all depends.

You'll get no value from adding storage racks. As far as a built in trash can, those are nice, but we've never seen a prospective tenant ponder trash can details when looking.

The EV outlet - might be a good one to add. If they're adding a lot of margin to the cost of the  upgrades, it probably doesn't make sense. If you're getting them closer to cost, then it makes a lot more sense. Some #6 or #8 isn't terribly costly and if it's a shorter run even better.

I don't think builder grade fans add much value.

Dozie Eme · Answer

Thanks Ed. I'm trying to make it as turnkey as possible and improve the potential tenant's experience.

I'm with you on some of these items not being rent drivers, but could they possibly reduce duration of vacancy?

this is the complete list of items I am considering:

EV outlet

modern ceiling fan to complement high ceilings in living room

pendant lighting on large island (none at the moment)

pullout trashcan

overhead storage racks

USB-A and USB-C sockets in kitchen and bedroom

house already comes with  W/D/R

thoughts? I think the first 3 are likely the most important...may be USB outlets too