In Canada, there are currently 5000,000.00 renter households (or 33% of the population) and up.
Since the last decade the number of renters has increased to 4.1 million (almost three times as in the past decade). The ranks of Canadian renters are growing fast, it’s important to maximize your home’s potential with regular maintenance and upgrades to attract renters and maximize profit.
Simply replacing old features & toilets, lighting, updating the floors, painting the wall.
As a landlord who wants to attract high-quality renters, it’s important to put upgrades in place that make the most sense. For instance, some landlords will invest in expensive upgrades such as kitchen remodeling, in a neighborhood that doesn’t allow for raising the rent to recover the costs of such a renovation.
There is some minor improvements help to attract the property :
– Replace Old Features
Having old kitchen cabinet door pulls and handles are all excellent small examples that many tenants are not willing to look past when viewing it. Hardware is easy to replace and is typically among the first elements to be changed in a home.
– Shutters
-Lighting
Different activities require different types and levels of light. A well-lit living room will have three different types of lighting: general, task and accent. These are used at different times of day and for different purposes, and key to a functional lighting scheme is to know how and when to mix and use them.
– Update Floors
Some types of flooring can look old fashioned and uninviting for potential renters. Considering switching these dated floors for something easier to maintain, Laminate is one of the least expensive choices for residential flooring and a good choice for people who are hard on floors. So, if renters have children and pets, it’s a smart choice. Plus, the upgrades will likely increase the desirability of the property, and therefore its value.
– Upgrade Plumbing Fixtures
Another plan that landlords can use to make their rental property beautiful is to upgrade the plumbing features in the home. No one wants to use outdated plumbing fixtures in the property they are living in. They will give a kitchen & bathroom a fresh clean look to home renters. And of course, replacing any broken or ugly fixtures is a necessity if you want to attract top value for your home.
This will instantly help to upgrade the kitchen and bathroom parts of the space without a renovation.
There are ultimately a number of the right things you can do to a home to make it more attractive. Not only will these tactics help to make it more appealing, but also it can increase your property value. To learn more on this topic, get in touch with a member of our team at zoodpm who would be happy to help.