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HOME IMPROVEMENTS THAT INCREASE RENTAL VALUE: HALLWAYS

Many homeowners and rental investors look for home upgrades to justify charging higher rent to their tenants. Unfortunately many of these improvements are front-loaded in their expense. Such a price is willingly paid…granted that confidence exists that such an investment will indeed yield a larger payout over time.

Although no single addition is guaranteed to allow for higher rent to be charged, there certainly are trends that exist in high-end homes that make them…high-end. Listed below are three of the upgrades often associated with top-tier rentals, all based in the hallways of a home.

1. Door & Entry Moldings

A classy home shows its quality even if it’s empty. Have you ever looked into a completely empty room? In a classy home, you see shutters, moldings, fresh carpet, aesthetic paint choices. In a less-than-classy home, you see…very little.

Door moldings are an easy way to spruce up a room and increase value without breaking the bank, or having to hire a professional. Classic styles of molding can be easily purchased at a hardware store, as can caulk and/or mounting glue.

2.  Baseboards

Of all the suggestions made thus far, baseboards may quite possibly carry the most ‘bang for your buck’. The human eye naturally spots areas that seem ‘unfinished’ in comparison to the rest of the house. The crack that shows at the floor-to-wall transition is an eyesore of an example.

Baseboards do not require high-quality wood, nor are they high-volume, which yields an inexpensive price. Furthermore, because baseboards are not weight-bearing, and simply rest on the ground, they can typically be glued rather than nailed or screwed…a much easier installation.

3.  Window Drapes

If you were to close your eyes and picture window drapes in your mind, where do you see them? In a fast-food restaurant? A split-end home? Cheap apartment? Of course not…you’d envision a mansion, an executive office, or…an elegant home. Enough said.

4.  Crown Molding

Although requiring more effort to install than baseboards, crown molding also yields higher value. It’s simply a mark of a high-class home, hence the royal reference via ‘crown’.

For our loyal clients, and our future ones

RPM East Valley

HOME IMPROVEMENTS THAT INCREASE RENTAL VALUE: LIVING ROOM

Many homeowners and rental investors look for home upgrades to justify charging higher rent to their tenants. Unfortunately many of these improvements are front-loaded in their expense. Such a price is willingly paid…granted that confidence exists that such an investment will indeed yield a larger payout over time.

Although no single addition is guaranteed to allow for higher rent to be charged, there certainly are trends that exist in high-end homes that make them…high-end. Listed below are three of the upgrades often associated with top-tier rentals, all based in the living room.

1.  Glare Awareness

A common omittance in accessorizing a home is a failure to take into account the glare that will strike the face of a television set. Living rooms are often equipped with the largest windows in the house, but if the light entering from those windows can’t be managed, it creates a miserable, often unusable, viewing experience.

Remedies? Well, the best one is internal shutters (discussed in detail in our Bedroom post) because of their ability to eliminate virtually all light if necessary, emulating a theatre-like environment. If shutters aren’t a viable option, try heavy drapes. Use blinds as a last resort.

2.  Fireplace

A true fireplace with an exhaust pipe or chimney is an expensive addition, and not worth one’s time. Fortunately, modern technology has allowed self-enclosed propane or natural gas fireplaces to be available for less than one might think.

Realistically, a fireplace addition is only for those who are serious about significantly increasing the value of the entire home. A fireplace alone won’t boost value enough to be cost-effective, but if installed with 3-5 other additions, substantial increase can be garnered.

3.  Auxiliary Furnishings

Whether you are renting a furnished or unfurnished residence, the smaller pieces of furniture still matter. Even if you’re only showing the home, it matters to have it furnished as if the viewer will be living there as is. A home that has average furnishings will fetch an average price.

The best additions are the one’s that provide both function and form. An elaborate painting? No. An ugly footrest? No. A classy coffee table…or matching end tables on either side of a bed…Yes. Don’t get carried away, but furnish with actually living there in mind.

For our loyal clients, and our future ones

RPM East Valley

HOME IMPROVEMENTS THAT INCREASE RENTAL VALUE: BEDROOM

Many homeowners and rental investors look for home upgrades to justify charging higher rent to their tenants. Unfortunately many of these improvements are front-loaded in their expense. Such a price is willingly paid…granted that confidence exists that such an investment will indeed yield a larger payout over time.

Although no single addition is guaranteed to allow for higher rent to be charged, there certainly are trends that exist in high-end homes that make them…high-end. Listed below are three of the upgrades often associated with top-tier rentals, all based in the bedroom.

1. Internal Wooden Shutters

You’ve heard of ‘form versus function’? Shutters are both. Although certainly more expensive than hanging blinds, internal shutters are without question an upgrade that gets factored into increased value. In fact, this applies not only to rentals, but permanent home sales as well.

Here are the most common requests for shutters:

  • Wood. If you’re going to invest, it’s worth going all the way.
  • Fully closing. Potential tenants look to see how much light shutters block out, allowing for luxurious sleeping in and napping.
  • Sturdy. Again, spend the little extra to do it right.

2. Ceiling Light & Fan

Many assume that full lighting and circulation are built into every room. That’s simply not the case…many of the smaller rooms (ahem, bedrooms) do not come pre-lit. And those who have slept in rooms without ceiling fans can attest that it often becomes unnaturally stuffy.

Fortunately, most current building codes call for electrical wiring to be taken to the center of the ceiling, allowing a homeowner to install a ceiling fan/light of their own with relative ease. Word to the wise: potential buyers look unfavorably upon rooms that they’d later have to spend money on.

3. New Vents

Few cities in the United States have ideal weather all day long, all year long. Most homes come equipped with air conditioning, but if the AC system is old, the vents are likely old as well. Most live-in residents don’t notice their vents, but tenants looking for their new home are typically checking out vacated lots, where smaller amenities like vents are much more noticeable.

Looking for a cheaper option? Trying cleaning and repainting them, keeping the home color scheme in mind.

For our loyal clients, and our future ones

RPM East Valley

HOME IMPROVEMENTS THAT INCREASE RENTAL VALUE: BATHROOM

Many homeowners and rental investors look for home upgrades to justify charging higher rent to their tenants. Unfortunately many of these improvements are front-loaded in their expense. Such a price is willingly paid…granted that confidence exists that such an investment will indeed yield a larger payout over time.

Although no single addition is guaranteed to allow for higher rent to be charged, there certainly are trends that exist in high-end homes that make them…high-end. Listed below are three of the upgrades often associated with top-tier rentals, all based in the bathroom.

1. Cabinetry, again

For those who read the post prior to this one, we discussed how cabinets are the most distinguishing feature of a kitchen. Although perhaps not the hallmark of a bathroom, they still go a long way to convey a classy or…not-so-classy feel.

Same recommendations as before: damage or dinginess of any kind sticks out like a sore thumb…focus first on switching out broken hinges and panels. Once in proper working order, consider replacing archaic hardware with modern metals. Finally, semi-old cabinets may be one layer of paint away from a completely new look.

2. Keep whites…white

If there’s one place in the home where a true deep clean is worth its while, it’s here. Bathrooms with older tubs, showers, and sinks can honestly be given a huge value boost simply by restoring them to their original colors.

White surfaces, particularly the insides of bathtubs and toilets, are the hardest. Solution: Mr. Clean Magic Erasers, or similar products. Dedicate an hour or two, and scrub literally every surface of the bathroom. It may be unsettling to see how much grime comes off, but it needs to happen for maximum value.

3. Faucets and Mirrors

Vanities, countertops, and cabinets are typically expensive to replace. Faucets, on the other hand, can easily become the $100-$200 upgrade that can honestly raise a rental price (when done right, and throughout the house). Be sure that themes match, both within each room, and throughout the home.

For our loyal clients, and our future ones

RPM East Valley

HOME IMPROVEMENTS THAT INCREASE RENTAL VALUE: KITCHEN

Many homeowners and rental investors look for home upgrades to justify charging higher rent to their tenants. Unfortunately many of these improvements are front-loaded in their expense. Such a price is willingly paid…granted that confidence exists that such an investment will indeed yield a larger payout over time.

Although no single addition is guaranteed to allow for higher rent to be charged, there certainly are trends that exist in high-end homes that make them…high-end. Listed below are three of the upgrades often associated with top-tier rentals, all based in the kitchen.

1. Cabinetry refinishing, painting, and hardware

The kitchen is the heart of a home, and cabinets, whether you’re aware of it or not, are the most distinguishing feature of a kitchen. For long-term value, there are few upgrades as profitable as replacing old cabinets with new, but there is still plenty that can be done on a smaller budget.

Most importantly, damage or dinginess of any kind sticks out like a sore thumb…focus first on switching out broken hinges and panels. Once in proper working order, consider replacing archaic hardware with modern metals. Finally, semi-old cabinets may be one layer of paint away from a completely new look.

2. Backdrops

The wall space between counters and cabinets is often left bare in home construction; significant investment is put into cabinets and counters, making it difficult to justify further aesthetic investment.

Fortunately, aesthetic investment for that small of space is remarkably inexpensive, and sets a kitchen apart. Engage the creative brain, and find unique wall coverings that match the theme of your home. Beadboard, classy wallpaper, and false masonry are all viable options.

3. Floors and floorboards

Sometimes, a kitchen floor is a simply a baseboard and a deep clean away from an entirely new level of class. What’s the yuckiest part of a floor? The transition (crack) that’s typically exposed between floor and wall.

Do your kitchen a favor…don some knee pads and cleaning gloves and get your floor as clean as possible, focusing on long-term discoloration. When that’s done, invest in baseboards and their proper installation.

For our loyal clients, and our future ones

RPM East Valley