How to Choose Cost-Effective Options When Renovating a Rental Property

Rental properties, whether residential or commercial, require a certain upkeep for many reasons. One, you don’t want your property to fall apart and be useless and inhabitable. And two, you want to keep tenants happy and attract new tenants to your property. Renovating and remodeling a rental property will help attract and keep current residents while increasing the value of your property.

Now, there’s many ways to upgrade your rental property, but what should you invest in? What upgrades are cost-effective and will give you the biggest return of investment (ROI).

As a property management company in Jacksonville, we have worked with our share of landlords in helping them attract tenants to their properties, while also helping them managing tasks and making decisions for upgrades to the building. For this article, we wanted to share with you some upgrades to your rental property that are the most cost-effective.

Window replacement – New windows can help with curb appeal when trying to market your property. New windows can also better help with the insulation of your property so your heating and cooling bills won’t be through the roof.

New paint jobs – Touching up the walls, trims, siding and more with a fresh coat of paint can make a property look like new. You can do this project yourself to keep costs low. Aim to choose neutral colors that will attract the most prospective tenants.

New flooring – More people are attracted to hardwood flooring, which is also easy to clean and has a clean, classic look. If you already have hardwood floors, refinish them to enhance their appearance and longevity.

Bathroom update – Replace faucets, shower heads and fixtures in bathrooms that can help cut water consumption. Replace the tub and toilet, and flooring so the bathroom looks new and inviting.

Kitchen update – Replace old appliances with new energy-efficient models. Replace hardware or just the doors on cabinets to improve appearance without spending too much money.

Outdoor space improvement – If you can add an outdoor space to your property, it will attract more tenants. You could add benches, tables, planters, walking paths, a pergola with seating, or a deck.

Added décor — You could hand pictures on a lobby wall, purchase a throw carpet, plant some flowers, etc., which will all add a comfortable and inviting feel to the property.

Looking for a Jacksonville Property Management Company?

Renovations and remodeling to a building is more than regular maintenance, but both are needed for your property to continue to thrive and attract tenants for years to come. What you decide to remodel or rennovate will be based on your budget and time. Our team at Quest Real Estate, LLC can help you weigh out the pros and cons of each possible rennovation decision. We will also monitor tenant feedback and help you decide what is the most cost-effective options are for your property. With the right renovations, you will see greater returns on your property for years to come.

As a Jacksonville property management company, our team at Quest Real Estate, LLC. have worked with many landlords throughout the years, helping them in whatever ways they need us, including with building improvements.  As your property management company, we will help you land quality tenants to your building.

At Quest Real Estate, we take pride in our quality property management services. We have a long history of providing residential and commercial property management company services to our customers.

We are knowledgeable in local sales and rental markets, and we are ready to put that knowledge to work for you. Our main goals are to make you the most successful owner possible, and to provide you peace of mind knowing that your tenants and property will be well managed.

Don’t just take our word for it, read some testimonials about us and our property management services.

At Quest Real Estate, LLC, we have years of experience working with tenants and we can help you find ways to keep and attract new tenants so you can continue to grow your investment for years to come.

Our Jacksonville property management team prepares leases, has 24-hour emergency maintenance, collects rent, takes photos, aggressively markets your property, and more. We will work with you to find ways to better serve your tenants, attract new ones, and manage your property.

If you’re looking for a Jacksonville property management company  to manage your property or find you tenants, let Quest Real Estate help you!

Contact our team at Quest Real Estate, LLC, by submitting our contact form. If you’d like more information on Jacksonville, or information on homes for sale or rent here in Jacksonville, Fl, call us at 904-373-9171.