What type of Improvements in a Rental to raise Rent?

What type of Improvements in a Rental to raise Rent?

Chris PierogPro Member
Real Estate Agent · Montesano, WA · Member since 2018 · 36 posts · 10 votes

I am working on getting a new rental in the makes. 

So far, these are the photos I have, they are older, and I am getting a walk through soon.

To give you a little bit of the background, this is in a decent location. 

Four-plex with 8 br and 4 bath, each having 2 br and 1 bath. Not in too bad of condition but definitely can be spruced up.

What would you improve in this rental to add value and  increase rent just from looking at the photos?

What are cheap and effective things to replace, fix, or add into rentals to add value and increase rent?

Any advice, experience, or tips  would be greatly appreciated :)

Have a good day!

-Chris

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Charlotte, NC · Member since 2018 · 180 posts · 144 votes
8y

Chris,

Congratulations on the 4plex!  Pictures look great.

I always want to provide a clean slate; let the renter imagine their stuff in the place.  Get rid of all the curtains, shower curtains and personal things like that.  If needed, I paint everything a light, neutral color (only 1 color is best).  Clean it real good so it has that bleach smell.  Spruce up the front and any landscaping, especially the entry areas.  Adding a dishwasher can increase the rent, if it's easy to do.

Be sure to spy on your competition.  This will guide you a lot.

Good Luck,

Chris

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  • New Orleans, LA · Member since 2018 · 1 post · 0 votes
    8y
    Hey Chris. In my opinion, the only things that can justify price hikes are adding an extra bedroom or adding amenities to the property.
  • Charlotte, NC · Member since 2018 · 180 posts · 144 votes
    8y

    Chris,

    Congratulations on the 4plex!  Pictures look great.

    I always want to provide a clean slate; let the renter imagine their stuff in the place.  Get rid of all the curtains, shower curtains and personal things like that.  If needed, I paint everything a light, neutral color (only 1 color is best).  Clean it real good so it has that bleach smell.  Spruce up the front and any landscaping, especially the entry areas.  Adding a dishwasher can increase the rent, if it's easy to do.

    Be sure to spy on your competition.  This will guide you a lot.

    Good Luck,

    Chris

  • Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    8y
    Judging from the photos I’d say new blinds to start, which is very cheap. Maybe some paint, hard to tell exactly from those photos. Probably clean the carpets if not replace them
  • Investor · The Creek, WV · Member since 2014 · 890 posts · 1k+ votes
    8y

    Is there a dishwasher? If not, those are relatively cheap in the grand scheme of things (the value they bring to your unit.)

  • Ned J.Pro Member
    Investor · Manteca, CA · Member since 2017 · 1k+ posts · 2k+ votes
    8y

    Flooring and paint......that's pretty much it.

    If the carpet is beyond saving, get vinyl plank or tile as much you can.. If you can save the carpet for now, then clean it up.

    Agree with getting rid of any thing that may have personal "style" to it....curtains or other decorations etc....you want tit neutral to appeal to as many people as possible

  • Columbus, GA · Member since 2017 · 88 posts · 115 votes
    8y

    A second for new flooring...luxury vinyl planks.  Look at doing all the common areas with it.  Shelf live over 10 years, and doesn't deteriorate like carpet over time (meaning it holds its rental appeal longer).  Something else looking into are stainless steel appliances.  I don't know what it is, but every unit that I put stainless in rents in minimal time, while white appliances seem to stay on the market a while.  

    If you are up for it, also look at replacing that florescent light with a nicer fixture or ceiling fan.  A couple hundred bucks can go a long way there.  

  • Investor · Atlanta, GA · Member since 2015 · 366 posts · 283 votes
    8y
    I agree with the flooring reco - removing the curtains and adding wood-looking flooring (vinyl or laminate) will likely help you get a bit more, or at very least rent the units more quickly
  • Investor · SE, MI · Member since 2013 · 1k+ posts · 461 votes
    8y

    I would leave the curtains- they are easy to wash and hard to destroy.  I have been replacing the cheap mini blinds in all our apartments with solid curtains, and everyone is happier for it.  FYI, I always make sure the windows have coverings available, and that the shower has a curtain if it doesn't have a door.

    Aside from that, I would consider tile in the kitchen and bath areas, and pull that carpeting out and replace with wood or vinyl plank flooring.  Hide whatever that reddish looking pipe is going across the ceiling (Is it a Pex hot water line maybe?)  Replace those square glass light fixtures from the 70's with LED fixtures.  Give the whole thing a fresh coat of paint, and replace the outlets and switches if they aren't white and clean.  

    On the more costly/ time consuming side- install in unit laundry if there is space for it and there isn't laundry available otherwise.  Replace kitchen cabinets and counters.

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