Looking to make improvements to the units in your 2 flat, but don’t have a ton of money to spend on renovations? Investing in improving your property is important and necessary in order to make sure that your property is generating as much income as possible. Here are 3 small projects you can do that will greatly improve the look of your property without costing you a lot of money.
Landscaping
They say that the first impression is always the most important. This can hold very true when it comes to real estate. Potential rentals will begin to judge your property as soon as they lay eyes on it, and the first thing they will see is the landscaping. You want to make sure that the curb appeal of your property is as good as it can be. Make sure that the lawn is taken care of, and any bushes are properly trimmed. If the front yard is full of overgrown plants, rentals will assume that you do not take care of the property, which will turn them off to the property. If they see the property has great curb appeal, they will assume the opposite, drawing more rentals to your 2 flat. The best thing is that landscaping is very inexpensive, especially when compared to the benefits you can get from it.
As far as improving the landscaping, you have two main options. The first option is that you hire a landscaping company to take care of it all. For me, I pay $25 every time the landscapers come out and take care of the grass, which is normally every two weeks. If I have overgrown bushes or weeds, they may charge a one time fee (for me its never been over $50, but it depends on the job). Keep in mind that I only have to do this when the weather is warmer, not all year. The second option is to roll up your sleeves and do it yourself! I would only recommend doing this if you live in the property, as it would be hard to transport around all the tools needed from property to property. It doesn’t take a lot of skill, just old fashioned hard work!
Kitchen Countertops
Want to have a fresh new look in the kitchen without spending a ton of money? Consider just changing the kitchen countertops! A lot of times, the kitchen cabinets themselves are in pretty good condition, and they can last a very long time. The countertops tend to become outdated and tend to wear out faster. As long as the cabinets are still sturdy, simply replace the countertops to give your kitchen a more updated look for a fraction of the price. Also, white cabinets are popular right now, so you can also sand & paint the cabinets white for a completely new and updated look that rentals will love.
Why type of cabinets should you get? It all depends on the area of the property. In a lot of properties, it is perfectly fine to install laminate countertops. A lot of landlords do this because it is not worth it to install expensive countertops, especially since renters tend to not take care of the property like a homeowner would. If all the properties in your area have higher quality countertops, such as granite or quartz, then you will need to follow suit in order to stay competitive.
Flooring
A great way to give your rental units a fresh new look is to improve the flooring. I say improve because to don’t exactly need to replace the flooring completely if you don’t have to. If the floors are hardwood, check with a flooring professional, who may be able to sand and restain the floors to make them look brand new. Better yet, they may be able to just buff and refinish them, which will restore the flooring to its former glory. If it is carpeting, you should strongly consider hiring a professional to clean the carpet, giving it a new look and fresh scent that renters love.
If the flooring cannot be saved, and you don’t have enough money to replace the flooring in the entire apartment, consider changing the flooring in just the kitchens & bathrooms. We all know that these two rooms are the most important to potentials rentals, so that should be the area where you put the most focus into.
Please feel free to reach out to me if you have any questions or comments. Thanks and have a great day!