5 Landlord-Friendly Home Improvements for Rental Properties

Making smart investments in your rental property can pay dividends in the long run. In other words, it can help you attract quality tenants, reduce maintenance costs, and maximize returns. Landlords need to be smart with the home improvements they plan to make in their rental property. Keep reading the article below and let’s explore a few smart options available. 

Why Flooring Matters for Rental Properties

The flooring you choose for a rental unit sees a lot of wear and tear from daily activity. It also significantly impacts the overall look and feel of a space. Selecting the right flooring materials for rentals is crucial for both aesthetic appeal and durability.

Tenants prefer floors that are visually pleasing yet also easy to clean and maintain. The carpeting may retain stains, require frequent steam cleaning, and show excessive signs of use over time from high traffic. Instead, turning to hard surface flooring that withstands heavy use is key. 

Best Flooring Options for Landlords

For property managers in Northern Virginia, owners may choose from popular flooring options including vinyl plank, laminate, and tile. These options are considered easy to maintain and offer perfect functionality. 

• Laminate Floors 

Laminate hardwood remains a premium flooring choice that adds value and style to any rental unit. Though more expensive upfront than other alternatives, refinishing hardwood floors can help them last decades. Preventative steps like using rug protectors under furniture legs help reduce scratching and gouging over a wood floor’s lifetime.

• Luxury Vinyl Plank 

Luxury vinyl plank (LVP) replicates the look of real hardwood or stone but with added versatility at a lower cost, while modern vinyl stands up to heavy use and resists moisture, stains, and scratches. As a floating floor, LVP allows fast, DIY-friendly installation. Durability and affordable pricing make waterproof vinyl plank ideal for kitchens, bathrooms, and main living areas in rentals.

• Tile

Tile remains a practical flooring solution for containing messes in key high-spill rental areas. Bathrooms, laundry rooms, and kitchen spaces benefit from a water-resistant tile floor. Grouts require occasional sealing to prevent staining. However, glazed ceramic or porcelain tile options now offer maintenance-friendly single slab formats eliminating traditional grout lines.

Low-Maintenance Landscaping Ideas

While adding a small kitchen island enhances the interior, combining it with low-maintenance landscaping will improve the exterior appeal, creating a comprehensive upgrade for your rental property that appeals to potential tenants. Here are a few of the best low-maintenance landscaping ideas. 

• Hardscaping Perks 

Patios, garden pathways, benches, outdoor kitchens, and living spaces boost the appeal of a rental property without adding undue maintenance. These permanent fixtures may need occasional touch-ups like pressure washing or new stains to refresh their appearance. Decking or pavers resist the weather better than paint or stucco, which demands frequent repair. Fire pits, patios, and built-in seats offer lasting gathering spots. Solar lighting illuminates without wiring hassles.

• Native Plants

 Local flora readily take to their native growing zones with minimum attention thanks to evolutionary adaptations. Xeriscaping principles use shrubs, bushes, trees, and flowering plants native to your rental’s particular region since they’ve evolved to thrive with available rainfall. Once established, native plantings grow back reliably year after year without much watering, pruning, or maintenance.

• Efficient Irrigation 

Programmable irrigation controllers automate watering schedules for lawns and gardens based on weather patterns and plant watering needs. Smart sensors deactivate the system after preset precipitation maximums are reached to prevent overwatering. Using targeted micro-drip irrigation directly waters plants at their roots, this can help minimize water waste from evaporation or runoff and saving on utility expenses.

Top Fixtures to Focus On

Choosing durable, energy-efficient fixtures cut costs on unit wear-and-tear and utility bills. Stainless steel appliances maintain a cleaner, newer appearance despite heavy use. Here are some of the best fixtures available for you to focus on. 

• Easy to Clean Appliances 

Stainless steel refrigerators, ovens and dishwashers resist fingerprints and keep their luster for longer than painted cases, which scratch and show use over time. Smoother finishes also mean faster wipedowns between tenant turnovers. 

• Matte Black Fixtures

Matte black fixtures provide an upscale aesthetic and show fewer water spots and staining than shiny chrome, making cleanup easier between tenants. Matte finish faucets and fixtures also disguise fingerprints, helping maintain appearances with minimal effort. 

The Importance of Quality Paint

Fresh paint in neutral shades makes a rental feel clean, updated, and welcoming to prospective tenants. It also allows the furnishings and style preferences of your tenant to take center stage. Quality paint also wears better under heavy use and repeated cleanings. Here are a few options to consider when getting quality paint. 

• Neutral Color Palettes

Soft white, beige, gray, and taupe paint colors appeal to the widest range of tenant tastes for a timeless, clean backdrop that won’t feel too bold or trendy later. Neutral walls let tenants’ furnishings and personal décor shine. Adding color through changeable accents like artwork, throw pillows, and area rugs allows renters to personalize. You may get some inspiration from an evergreen fog color palette as well. 

• Higher-Quality Paint

Higher-end paints with urethane resins provide a more durable finish coat that stands up better to cleaning, humidity, and regular wear and tear. Washable, scrubbable matte sheens resist staining and can be wiped periodically to remove surface dirt between repainting. Avoid flat finishes that show scuffs easily. Eggshell or pearlized paint finishes offer a compromise, providing subtle sheen while hiding imperfections.

Landlord-Friendly Energy-Efficient Upgrades

Energy-efficient upgrades not only help the environment through lower energy usage but also help save tenants money on utility bills. The following are a few of the best energy-efficient upgrades that you can consider. 

• Programmable Thermostats

Installing programmable thermostats allows landlords to customize temperature settings for rental units that are occupied versus vacant. Set an energy-saving mode during typical working hours or extended vacation periods, then program for optimal comfort when residents are home. 

• Insulation

Improving wall and attic insulation regulates internal temperatures better, preventing heat and cooling loss. Well-insulated rentals stay warmer in winter and cooler into summer, with less appliance energy needed for climate control. Tax credits, rebates, and utility incentives can offset upfront installation costs. Tenants also appreciate regulated indoor climates that lower their utility bills.

FAQs on Landlord Upgrades

How much return on investment can I expect from rental property upgrades? 

Focusing upgrades in the right areas yields the highest tenant appeal and operational efficiency. Kitchens and bathrooms provide the biggest value boost, with a return on investment of around 65%. New bathrooms can also command 20% higher rents. 

What are smart ways to offset improvement costs? 

Consider federal tax credits of up to $500 per year for approved energy upgrades until 2025, which helps defray purchase and installation costs. Improvements that cut utility bills also appeal to tenants, who will pay more for an energy-efficient space. 

How much can I increase rents after property upgrades? 

Aim for no more rent increase than half the dollar value of improvements for fair market rates. Cosmetic upgrades like floors and paint may justify 10% higher rents. Adding new bathrooms or bedrooms has more impact, allowing 25% or more in rent premiums. Curb appeal improvements bring 5 to 10% positive rent bumps. Any increase over 10% should have proportional value additions behind it.

Conclusion

Smart investments into the right rental property improvements pay dividends over time through higher rents, better quality tenants, and operational efficiencies. Focus first on durability and easy maintenance. Curb appeal and kitchens and bathrooms offer prime value additions. Energy and water efficient upgrades not only help the planet but also benefit tenants financially in utility savings. Keep costs reasonable, but don’t cut corners on nuts-and-bolts systems or bones of a property. Quality foundations pay long-term dividends for happy tenants and steady returns.