It depends on the comps in the area you are renting and what people want in that specific area.
Originally posted by @Max T. :
try and think about cheap upgrades that feel nicer than they cost:
Outlets with USB, one in each bedroom, one in the kitchen.
New sink faucets to replace old ugly yet functional ones.
Can you add storage space somewhere? Maybe the basement?
Everybody likes the house numbers that stick out.
Maybe a cool mailbox.
Motion activated or photocell sensor lights for the outside.
I try to make or keep the things that the tenants touch/use daily feel nice.
The USB outlets and the motion-activated outdoor lights are great ideas. The "cool" mailbox, not so much. The thing about being "cool" is that what one person likes, another person will dislike. The best thing to do with things like mailboxes and paint color schemes and other "look and feel" items is to stay as neutral as possible. Buy "antique white" paint by the barrel.
Like the faucets -- new is good, especially if the old ones are objectively ugly (you know what I mean!) Too fancy is less good. More-or-less ordinary, functional, and a bit shiny is probably best. You get something that looks like it's out of a Paris Fashion magazine, half your prospects will love it, and the other half will hate it.
If you have a long-term tenant and they want to install their own "cool" mailbox and paint the back bedroom Deep Purple, well, fine. But don't expect them to move out and have the next tenant have the same peculiar tastes. (and take the multiple coats to cover that Deep Purple out of their deposit!)
What is your tenant demographic? Younger, older, college students? Start with defining a base, then dig into the profile that fits that base. Then give them what they want - be creative and be reasonable!
In general, in unit washer and dryers are huge. You can get the two in one style or stackable units. I'd say more influential than a garbage disposal - which is convenient.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing