Fixing Up a Rental Property: A Practical Guide That Won’t Leave You Frazzled

 

Rental property dreams are great: steady income, long-term investment, all that good stuff that makes your friends invest in the quaint, summer cottage. But let’s be real: The dream of fixing up a rental can sometimes feel more like a DIY nightmare. If you’re sprucing it up to get tenants, or doing a much-needed overhaul after your last renters left, there’s a fine line to walk between smart spending and splurging lavishly.

 

 

But don’t worry, here’s how to take this project on without going mad (or broke).

Start with the Basics: What Needs Fixing?

Grab a notebook (or open your favorite task app) and begin to assess the situation. The first step in fixing up your rental property is figuring out what needs fixing and what you want to fix.

• Inspect What Matters Most: Your top priority is the big ticket items: roof, HVAC, plumbing, and electrical systems. Nobody wants to rent a house with a leaky roof or a busted heater.
• Functional Over Flashy: That avocado green tile in the kitchen isn’t the latest and greatest but if it’s not cracked or falling apart, it might not be such a big deal. Focus on function first.

Once you have a list, divide it into two categories: things you must do for safety or functionality and things you’d like to do to make your property more attractive, but aren’t essential.

 

Maximizing Tenant Appeal: What Today’s Renters Really Want

When you’re fixing up a rental property, it’s easy to go for what looks good, and not what will actually work. The thing is, your personal tastes don’t matter that much. To appeal to potential tenants, you must think like one. So what are we going to do that will make someone think, “I want to live here”?

Focus on Modern Conveniences

Today’s renters are more concerned about convenience than ever before. Think about small upgrades that can make a big impact:

• Smart Home Features: A smart thermostat or smart keyless entry system will accentuate your property for young professionals or tech-savvy tenants. Most smart upgrades are relatively inexpensive and will be offset by the higher rent you’ll be able to charge. If you’re planning a complete renovation or building a vacation home from scratch, read more about what a family-friendly smart home looks like and why it has such financial potential and value in the modern rent real estate market.
• In-unit Laundry: If your rental doesn’t already have laundry facilities, add them. A major perk for tenants is in-unit laundry, and it can make your property stand out in competitive markets. It will also attract long-term tenants who want to stick around for a while.
• Storage Solutions: Tenants need a way to organize their living space. You can add built-in shelving, closet organizers, or hooks for coats and bags that will make your rental more functional. Keep Families in Mind

If your rental is large enough to attract families, consider what makes life easier for parents. For example:

• Durable Finishes: Families with kids love homes that can stand up to wear and tear. A huge selling point is flooring that’s scratch-resistant and easy to clean (like vinyl plank).
• Safety Features: Some things you can do to attract tenants with kids include child-safe locks on windows, a secure backyard, or even a fence around the entire property.

Pet-Friendly Properties

Most people who can afford to rent high-end or well-maintained vacation properties have no problem paying for a property that caters to their pets. If you’re allowing pets, then think of small touches like durable flooring, a fenced yard, or even a pet washing station if you’re feeling ambitious. This can help prevent any potential damage from pets, and it’s a win-win for you and the tenant.

In the end, your goal is to create a space that feels welcoming, functional, and worth every penny of the rent you’re asking. If you focus on what renters really care about, you’ll be able to attract reliable tenants who will treat your property as if it were their own.

 

Budget Like a Pro (or at Least Like Someone Who’s Paying Attention)

It doesn’t have to cost a fortune to make your rental shine, but you don’t want to skimp so much that you have to go back and do repairs six months down the road. Here’s how to hit that sweet spot:

• Plan for the Big Stuff: If the appliances are old or the flooring cannot be saved, budget for new. Focus on the kinds of upgrades that will pay off in the long run.
• DIY Where You Can: It’s easy to paint walls, replace cabinet hardware, or install light fixtures, which can save you on labor costs. Before you dive in, just make sure you know how to do the work before you start, to save yourself the stress of getting stuck mid-way through a DIY project. 
• Be Smart About Materials if Budget is Tight: Your best friends are durable, cost-effective materials. Instead of hardwood, think vinyl plank flooring or quartz countertops instead of granite. These materials are great, they hold up well, and they won’t kill your budget.

Make It Appealing Without Going Overboard

Here’s the thing: If rental properties are going to feel livable, they don’t have to look like they belong in the pages of Architectural Digest. Clean, functional, modern—not the very top of the line—that will be the middle-ground that will make most tenants feel relaxed enough to enjoy their stay, while also feeling well-cared for.

• Neutral Colors Are Key: Stick to neutral paint colors and finishes. They’re universally appealing and don’t overwhelm potential tenants. They also make the space feel fresh and clean.
• Update the Kitchen and Bathroom: These two rooms will often make or break a deal for tenants. You don’t have to install a chef’s dream kitchen, but replacing dated faucets, adding a backsplash or refinishing cabinets can make a huge difference in raising the overall appeal of your vacation home. 
• Curb Appeal Counts: Even rentals leave first impressions. Without spending a lot, a clean front door, fresh mulch, and a well-maintained yard can make your property more inviting.

Think Long-Term: What Will Save You Time and Money Later?

Making a rental tenant-ready is not just about making it ready for being liveable, it’s about making it easier for you to manage in the future.

• Low-Maintenance Choices: Select materials and features that need almost no maintenance. Durable flooring, stain-resistant paint, and easy-to-clean surfaces are what you need to think about.
• Energy Efficiency: Lower utility bills are great for tenants, and energy-efficient upgrades (like LED lighting or a smart thermostat) might even help you charge a little more in rent while marking the property as eco-friendly.
• Preventative Measures: Pay a little extra now to save yourself some headaches later. Sweep the gutters, seal that drafty window, double-check the plumbing, and install features that keep pets from doing damage.

When in Doubt, Call in the Pros

There are some projects that just need to be left to the experts. If you’re dealing with anything structural, electrical, or plumbing-related, save yourself the headache and hire a professional. Sure it costs more upfront, but it’s better than the cost of a mistake or dealing with safety issues in the future.

Final Thoughts: Make It Worthwhile

Fixing up a rental property can feel overwhelming, but it’s also one of the most rewarding parts of being a landlord. By focusing on the essentials, keeping your budget in check, and thinking long-term, you can turn a tired property into one that attracts great tenants and holds its value.

If all this sounds like too much, RemoteBuilder will do the heavy lifting for you. From complete and comprehensive renovations to building your vacation home from the ground up, we’re here to make the process as seamless as possible so you can sit back and relax while enjoying that rental income stress-free.

And that’s your crash course on fixing up a rental property. Go now and attack that to do list like a pro!