As an entrepreneur and a landlord, you want to keep the business going with as many affordable investments as you can. The best way to get the most out of your rental is by bringing a little DIY can-do attitude into it. When renovating your property, it’s important to allocate your time and money to the areas that will give you the most return. If you find yourself in between clients, take this time to try these easy and very budget-friendly DIY projects with high ROI for your rental property.
Refresh the entry way & PAINT, PAINT, PAINT!
While this tip might sound simple, there is a lot of power in just a few gallons of paint and a very small dent to your wallet. First impressions count! Did you know that consumers only take 7 seconds before they make a first impression and opinion on your rental? Choose what is going to be most appealing to most people. A vibrant color might appeal to some, but neutrals are most commonly chosen by renters – colors that can be built upon and easily used in numerous color themes by renters.
- For example: For your entryway, the most important key to a first impression; attract the most renters by painting all walls, trim and doors in neutral tones.
Upgrade Kitchen Appliances
Remember that saying, “the heart of a home is the kitchen?” Well that’s because the kitchen for most Americans is the meeting spot and most used room in the home. While this update might have the largest punch to your wallet, it will also have the biggest return. New appliances will help modernize an outdated kitchen and also distract from any flaws the kitchen may have that’s not in the budget to fix. Alongside with this, new appliances will satisfy eco-conscious tenants and potentially save on energy bills which is a plus on either side.
As a DIY landlord, we know new cabinets are not in the budget – it’s not in the budget for many primary homeowners either. Resurfacing or painting cabinets make a huge impact with a very low cost. We’re talking $40 out of the wallet type of cost and a weekend to dedicate.
Adding mulch to your rental property is a sure way to save time pulling weeds and create a curb appeal. Consider hardscaping with stone or gravel to cut down on grassy areas, limiting the need for routine maintenance.
Change the hardware
This is another simple but effective method in catching the attention of renters and updating the space. Changing cabinet hardware and door handles throughout the rental property is relatively inexpensive and creates a huge impact appeal wise.
Planning for Property Maintenance:
Many landlords choose to rent a roll off dumpster to stay on top of the waste removal process which will bring the new tenant in the door faster. Whether you’re doing a complete gut of your rental property or a few of these DIY landlord renovations, a roll off dumpster can help you get the job done faster. Contact us today for any roll off dumpster questions you may have for your next project.