Tenants often tour three or more apartments before they find the perfect home. That means your units have to stand out from the crowd if you want them to lease from you. The standard apartment no longer cuts it; people are looking for the comforts of a little luxury.
Even if you do not sell luxury units, it is a good idea to upgrade them to attract high-quality tenants. After all, these tenants will be more willing to pay for a higher quality of life and pay a little more for rent.
But as a landlord, choosing the apartment remodeling ideas that will turn a profit can be tricky. It’s more about what potential tenants might want rather than what you like. Here are a few that are guaranteed to put you high on a tenant’s list.
A Fresh Coat of Paint
You would be surprised about how a fresh coat of paint can transform a space. It’s also a relatively inexpensive way to give your home a transformation. Paint all of the walls to improve the appearance.
A little color can make the apartment pop, so consider an accent color.
Upgraded Kitchen and Bathroom
Nice kitchen and bathrooms always have tenant appeal. These are the spaces that need to function as well as be beautiful.
Upgrading appliances and fixtures and adding new countertops and tiles will go a long way in creating a luxury home.
New Floors, Windows, and Lights
New floors provide a good base for a rental apartment. Replace any creaky floorboards or stained and damaged flooring.
New windows are also preferable because they can help insulate the space better and bring in more natural light. Upgrade light fixtures in rental apartments to give the unit some style.
If you are going for bigger apartment renovation ideas, you may opt to make the closets bigger.
Every tenant will appreciate the extra space for their clothes and general storage.
Open Floor Plan
An open floor plan can help increase rent prices. People love having wide open space that allows them to entertain or watch their kids from another room.
Open floor plans also make the unit look larger without requiring a large footprint.
Stylish Little Details
When it comes to renovation, it’s all in the details. The little decorative accents can make a huge difference to the overall design.
Consider stylish options for doorknobs, drawer pulls, and cabinet handles. These are easy and inexpensive swaps with a big return.
Apartment Remodeling Ideas for 2023
Thousands of competitor apartments are available; what’s going to make a tenant choose yours? That’s the question you have to ask if you want to bring more renters into your units.
Since potential renters often look at multiple apartments, sometimes in one day, you have to make your units memorable. You have to make them feel like your apartments are home. These apartment remodeling ideas can help you achieve just that.
Ready to transform your units into something special? Contact us today for a consultation to start the process!