Affordable Remodeling Projects That Pay Dividends
People who rent apartments and homes typically have good ideas for making them more livable, but restrictions made by their landlords often prevent them from doing so. These rules help to protect owners from having to pay for “improvements” made by renters that go awry.
However, there are several relatively inexpensive home remodeling projects landlords can implement that will appease tenants and boost property values.
Purchase new windows
Older properties are the top candidates for new windows. Buying double or triple paned windows will help in two ways. First, it will help to control the temperature inside the home, which can help to lower energy bills. More importantly, investing in new windows will help to block out noise – a common pet peeve of renters, especially those living in urban areas.
Embrace energy-efficient technologies
Sometimes renters are required to pay for heating and cooling costs and in other cases they are covered by the landlord. Either way, a moderate investment in energy-efficient technologies can pay for itself in time.
If you have a small budget available, buying a smart thermostat is a great place to start. Programming your house to not use heating or cooling when you’re away will add up to significant savings over time if you’re still using a manual thermostat.
Installing energy-efficient lights is another way to reduce your carbon footprint and save money. Smart lights can be programmed to shut on and off at specific times and/or automatically time out and turn off in rooms where no motion is detected. Bathrooms are ideal for this type of lighting technology.
Save space wherever possible
A lack of room for furniture or to store kitchen accessories is a common gripe of renters. This can be affordably and easily addressed by adding floating shelves throughout the residence. Also, consider buying modular storage units for the kitchen that can be stacked in cupboards and closets.
Making these moderate updates will help to keep rooms clutter-free, which becomes important when a landlord needs to show an occupied unit to a prospective renter.
Little upgrades can make a big difference
Lower cost upgrades like these benefits tenants and owners alike. More importantly, making regular updates to a unit will make it easier to attract new renters.