As the owner of an apartment complex, you probably know well that when it comes to making updates it’s best to choose remodeling projects that will increase the value of your property, and in return, allow you to charge more for the rent.
If you are doing your research on what upgrades you should consider making, here at Ascension General Contractors, we’ve done the work for you and put together a list of some of the absolute best apartment updates you can make to increase your rent.
What Are Some Apartment Updates That Could Increase Your Rent?
Sometimes it’s the little things that make the most difference, and if it’s been a while since you’ve installed new faucets or lighting fixtures in your apartment complex, this may be a great place to start. Swapping out outdated lighting fixtures is a simple fix to increase the value of your apartments. And because faucets and sinks wear out quickly, making the small investment in new ones can keep you from constant repairs.
With renters coming and going, countertops are another part of an apartment that will definitely see some wear and tear. If a countertop is made of plastic laminate, it won’t stay nice or hold up for long. There are so many options out there for a durable countertop material that will definitely last longer and work to boost your apartment’s value. Consider adding countertops made of granite, slate, quartz, or even stone alternatives for the best look and quality.
New flooring like laminate, tile, stone, or even hardwood, to replace carpet and linoleum is a great update to add value to apartments, and it can also make the maintenance and upkeep of the floor much easier for yourself and your renters in the apartment.
New paint is a staple update for any remodeling project to improve the feel of your home, and it’s one of the easiest and most cost-effective ways to increase the value of your apartments. When you own an apartment complex, it’s definitely important to take special consideration of what your renters are looking for. It’s best to stick with neutral colors to give renter’s blank canvas to work with and allow them to style the apartment to their liking.
For more ideas on adding value to your apartment building, check out this great article. And if you are ready to make some updates and increase the value of your apartments, all of us at Ascension General Contractors are here to help you accomplish your apartment remodeling project. We are full-service repair specialists, and proud to serve the Nashville community as general contractors.