Simple Home Improvements to Increase Your Profit
Renting a room or a property is a great way to make use of extra space and earn some money. But before you list it, make sure that it will bring you the best return on the investment of your time and money. Everything about the property should immediately signal “welcome” to each guest. But you don’t have to do a complete rehab to ensure that your rental looks clean, bright, and in good repair.
Start with the front door—it’s the first thing your guests will see and immediately signals to them the state of the rest of the property and the care you take with it. The front door should be clean and scratch-free; a new coat of paint is a good idea. Door handles should look operate smoothly and the deadbolt should lock easily to make your guests feel secure. If cleaning and oiling don’t do the trick, you may need to provide brand-new hardware
Once inside, the flooring in the entryway should be clean and in good repair. Consider replacing vinyl tiles or old carpet with a sturdy laminate or tile that will weather well over time.
Hardware & Windows
Take a look at the hardware throughout the home. Is it old and in need of replacing? Do the bedrooms have locking door knobs? People traveling for business with their co-workers will want the security and privacy of a locking bedroom door.
For the security and comfort of your guests, make sure that windows open, close, and lock easily. You may need to replace window screens and provide fans to encourage guests to open windows rather than run the A/C in warm weather. Windows should be provided with curtains, blinds, or shutters for privacy. Use light-blocking curtains or other window-treatments in the bedrooms.
If the plumbing fixtures are over 10 years old, consider replacing them. Handles can easily become dirty looking and harder to clean over time. This needn’t be expensive—good quality, low cost fixtures can be found on Amazon or your local hardware store, and you can probably make the replacement yourself with a little help from YouTube. Finishes like brushed nickel or rubbed bronze can also bring your home up-to-date.
Guests will appreciate multiple usable electrical outlets in each room. If your home has too few outlets, no need to hire an electrician—purchase power strips for the bedrooms, living room, and work area.
One of the cheapest yet most impactful ways to transform the appearance of a space is with paint. New white paint can provide a clean, airy feel, but on every wall it can feel institutional. Consider a cheerful yellow in the kitchen, soothing blue in the bedroom, and an accent wall that complements the furnishings in the living area. Paint color selection doesn’t have to be complicated, but it can make a dramatic difference to a space. Do not forget your kitchen cabinets—repainting is far cheaper than installing new cabinetry.
Another easy way to spruce up your rental property is with lighting. You may not be able to replace all old fixtures, so replace either the oldest or those in the common spaces such as the dining and living areas. At the very least, replacing bulbs with those that provide at least 200 lumens (or more, if you have dark shades over them) will brighten up the rooms and show off the fresh paint job
After you’ve made your improvements, make sure that your listing showcases them well with clear, bright photographs that show off each room and its amenities in the best light.
These small steps can go a long way towards making your guests feel that you care about the place and about their experience.