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Tenant-Friendly Transformations: Renovation Ideas to Attract and Retain Renters

Posted by Admin on April 29, 2024
| Property Investment, Property Maintenance, Remodeling
| 0

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Attracting tenants can feel like an uphill battle if you’re not prepared for everything it takes. People want to rent in safe, clean, and attractive buildings that allow them to feel at home. If you can offer them this, they’ll be more eager to pay higher rent rates.

These tenant-friendly renovation ideas will attract renters and ensure that they become multi-year tenants for as long as you want.


Kitchen and Bathroom Upgrades


Whether this is a single-family or multi-family residence, the kitchens and bathrooms will always be the most important spaces. The kitchen needs to be clean and functional, with attractive modern details that offer storage and utility. Appliances need to be ones you can rely on, so you have to do as little maintenance as possible.

In bathrooms, it’s a good idea to go for modern touches but keep from stylizing it too much. Think of it as setting up a canvas that clients can decorate as they please. Using the same cabinet color from the kitchen is a great way to create a cohesive space.


Energy Efficiency Enhancements


Tenants are always looking for ways to lower their monthly expenses. If you can lower their energy bill by creating an energy-efficient space, they’ll be far more likely to be okay with higher rent rates.

To make a space as energy efficient as possible, seal windows and doors, check insulation, and use better lighting and appliances. Try to get a track record of how much the energy bill is for a unit with these upgrades so you can advertise that as one of the perks.


Functional Outdoor Spaces


Although the outdoors doesn’t necessarily need a purpose, renters can enjoy lounging and simply looking at the views. Functional spaces are the hot trend right now. If this is a single-family property you’re renting out, this can mean an outdoor kitchen, or it could mean setting up a space where renters can garden, exercise, entertain, or do anything else they’d like.

To keep the building eye-catching, it’s a good idea to use modern, dark vinyl siding colors. These will make your property look well-maintained and attractive as they enjoy your outdoor spaces.


Smart Home Technology Integration


Smart homes are the future for high-grade rental properties. This means smart thermostats and smart lighting should be at the front of your design plans. Smart thermostats are awesome because they allow tenants to control their HVAC system even if they’re not home, which means they could be on less and let your systems last longer.

Smart lighting also works well for gaining tenants since it can make a home feel more customizable, allowing them to control their utility bills far more easily.


Storage Solutions Maximization


To make the most of storage options and meet tenants’ needs, think about adding useful features to your properties. Right now, lots of Americans are shelling out big bucks for off-site storage. Providing enough storage space on-site not only saves them money but also makes their living situation better.

In apartment buildings, having storage areas in the parking garages is a big plus. And for houses, adding storage in garages and putting up shelves in closets and pantries can really make a difference.

But don’t forget about the basics. Using permeable pavers not only keeps things tidy but also stops the parking area from getting all muddy. Combining practical storage ideas with solid groundwork creates spaces that meet tenants’ needs and make your properties more appealing.


Flexible Living Spaces Design


Every tenant will have a different idea for the space they’re moving into. Remember to keep every stage of life in mind!  If a multigenerational family rents from you, they’ll be excited to see good handrail design and features that could keep older and younger family members safe.

Remember to avoid deciding for your tenants. A space you view as a second bedroom for kids could be a home office for your renter, so ensuring they have that flexibility will make a huge difference.


Efficient Waste Management


In addition to aesthetic enhancements, practical considerations such as waste management play a vital role in ensuring tenant satisfaction. Providing residential dumpsters on-site offers tenants a convenient and effective solution for waste disposal.

By partnering with a reputable dumpster rental service, you can ensure that tenants have access to designated dumpsters, thereby maintaining cleanliness and orderliness throughout the property. This proactive approach not only contributes to a pleasant living environment but also fosters a sense of community responsibility among residents.


Gaining Tenants Depends On More Than Good Rent Rates


If you want reliable tenants who will pay well for your property, it’s time to invest in a property that will attract those types of tenants. Check out Intempus Realty for more inspiration.


Author Bio

Andrea Erickson is a freelance writer who loves sharing her knowledge and expertise in renovation and Interior Design. She lives in her hometown of Austin, Texas where she enjoys spending time with her husband and decorating with her children. Andrea’s work as a freelance writer can be found on Building Product Advisor, a construction industry resource site.


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