Looking to attract new tenants and boost your rental income?
With so much competition on the market, if you want to attract tenants your home needs to stand out. If you're on a budget though, it can be hard to know what you can do to update your property and boost your rental income.
Don't worry, achieving a budget design is possible! Read on for 5 budget decorating ideas you can do now.
1. Update Kitchen Cupboards
Painting the kitchen cupboards can go a long way to updating your rental's kitchen space. It can give a worn, tired kitchen a new look at a small cost.
You start by taking the cupboard doors down, sanding them down, priming and then you paint them. Or you can use a cabinet transformation kit to update their look without any hassle. All you need to do is clean the cupboard and paint it straight on.
2. Fix Holes Yourself
It's expected with daily wear and tear that small drywall holes will form and need repairing. You can save money by repairing these yourself. You can cover them with ease using plaster or sand and don't need to hire and professional.
On larger holes, you can insert small sections of wood to fill it in, and then sand or plaster over it. You could save around $200 per hole by doing it yourself!
3. Change Light Fixtures
A light fixture can set the mood of a room. It can be the difference from a room looking dated to fresh and modern. If you're able to do simple electrical work yourself, this is a project to handle alone. Or choose a handyman to help rather than an electrician as this is more cost-effective.
Change light switches to suit a more contemporary style and introduce sensor switches. These are simple, nice features tenants will appreciate and it doesn't cost the Earth!
4. Use Granite Countertops
Granite countertops are a big seller when it comes to attracting tenants. If your units are a simple shape, you can install granite in a cost-effective way. You only need a circular saw with a diamond blade, tape, a clamp, and a marker to mark your line.
Clamp a 2x4 piece of wood on top of the granite slab along the line you marked. This will help you guide the saw to make sure you keep straight on that line. This way you can have a great feature to attract tenants without breaking the bank.
5. Install Crown Molding
This is a high impact addition to a home to make it look and feel like a high-end property. Due to the complicated cuts needed, installing it might not be a DIY project.
You might need to hire a contractor unless you have experience with crown molding. It'll be well worth the cost though. Using a contractor, you'll usually be paying per foot. To reduce the cost further, you can always use cheap baseboards for the base to your molding.
Go a Long Way With a Budget Design
You don't have to spend a fortune to achieve a great result. A budget design can still look modern and chic and will go a long way in attracting good, reliable tenants.
Remember, to keep on top of general wear and tear like patching holes. And always do this yourself to save money. You don't want your property to look dated and unloved as this will turn tenants off.
Simple things like painting cupboards and changing a light fixture can change the mood of a room. Both of which won't break the bank.
If you found this article helpful, check out our other blog posts for more property tips and tricks.