It’s easy to fix up your properties if you have unlimited cash. However, you need to keep your repairs to a minimum to stay profitable. You also need to keep your properties in good shape to attract tenants. You will find the basic improvements, such as carpeting and paint, however these may still cost thousands of dollars. The following are some inexpensive ways to better your properties with hardly any cash Spruce Rental Unit.
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#1) New Electrical Switch Plates.
This is such a minor yet overlooked improvement. Most rental owners paint a unit and leave the old, ugly switch plates. Even worse, some even paint over them. New switch plates cost about 50 cents each. You are able to substitute the whole house with fresh switch plates for approximately $20. For the foyer, living room and other obvious areas, spring for nice, antique brass plates. They run about $5 each – not much for added class.
#2) New or Improved Doors.
Another overlooked, yet cheap replacement item is doors. In case you’ve got hideous brown doors, replace them with fine white doors (you may paint thembut unless you’ve got a spray gun it’ll take you three coats by hand).
The basic hollow-core door is about $20. It comes pre-primed and pre-hung. For about $30 more, you can buy stylish six-panel doors. If you are doing a renovation, the extra $30 per door is well worth it.
#3) New Door Handles.
Along with altering doors, consider altering the handles. A classic door handle (especially with crusted paint onto it) looks darkened. For about $10-20, you can replace them with new brushed nickel or antique brass finished handles. Replace the guest Farmhouse bedding and bathroom door handles together with the elaborate”S” handles.
#4) Paint/Replace Trim.
In the event the whole inside of your house does not require a paint project, consider painting the trim. New, Contemporary custom homes normally Include crimson or off-white walls along with bright-white trimming. Use a semi-gloss vivid white all the trim on your houses.
In the event the flooring trim is worn, cracked or just plain awful, replace it! The RealHome Depot carries a new foam trim that is pre-painted in several finishes and costs less about 50 cents per linear foot. Create an excellent first impression with the addition of crown molding at the entrance way and living area.
#5) New Front Door.
Your first impression will give you utmost opportunities. A cheap entrance door makes a house look inexpensive. A classic entrance door makes a house look older. Spruce Rental Unit When you’ve got nice hefty door, then paint it a more bold colour using a high-gloss paint. If your front door is old, consider replacing it with a brand new, stylish door. For about $150, you can buy a very nice door.
#6) Tile the Foyer Entry.
Following the front entrance, the next first impression is your foyer area. Most leasing home foyers are garnished with linoleum floors. Consider a nice 12″ Mexican tile. A 8′ x 8′ place should cost approximately $100 in materials. If you really want a quick, cheap fix, you can buy linoleum strips that look just like wood!
#7) New Shower Curtains.
It amazes me that many landlords show properties with either no shower curtain or any ugly old shower curtain in the bathroom. Do not be economical — shed $40 and get a wonderful new pole and elaborate drape.
#8) Paint Kitchen Cabinets.
Replacing kitchen cabinets is expensive however, painting them is inexpensive. In case you’ve got older 1970’s style wooden cabinets at a beautiful dark brown shade, paint them. Spruce Rental Unit Use a semi-gloss white and finish them with nice knobs. It’s not necessary to paint the inside of these (unless you have a spray gun), since you’re simply hoping to earn an impression.
Americans spend 99% of their time in the kitchen (when they are not watching TV). A fancy contemporary faucet looks fantastic from the kitchen. They can run as much as $150, but not to worry; most retailers (Home Depot, Lowe’s, etc.) often run clearance sales on overstocked and discontinued models. I have found nice Delta faucets for about $60 on sale.
#9) Add Window Shutters.
In case you’ve got awful aluminum framed windows, consider incorporating wooden shutters outside. They are pre-primed in most hardware retailers and are easy to install. Paint them with an offset colour from the outside the house — (e.g., in the event the house is black, paint the shutters white. In the event the house is lightor paint them blue, green, etc. ).
#10) Add a Nice Mailbox.
Everybody on the block has the same mailbox. Stand out. Be bold. For about $35 you can buy a nice, big mailbox. Spruce Rental Unit For around $60 more, you can purchase a great wooden post to this. People notice these things….and they like them!
William Bronchick, President of the Colorado Landlords Association, is a nationally-known attorney, author, entrepreneur and speaker. Mr. Bronchick has been practicing law and real estate since 1990, having been involved in over 1,500 transactions. He has appeared as a guest on numerous radio and tv talk shows including CNBC Power Lunch. He has been featured in TIME Magazine, USA Today, Money Magazine, the l. a. Times and therefore the Denver Business Journal.