Profitable Renovations to Make When Remodeling a Rental Apartment

Updated 3/28/2022

Upgrading your home comes with several benefits, including enhanced comfort, energy efficiency, aesthetics, and value. However, you need to understand how to go about it to ensure you get excellent results. One of the best ways to handle large-scale remodels in your home is by working with a professional. It may cost you a substantial amount to pay for such services, but you will be happy with the project’s outcome. A home remodeling contractor has in-depth knowledge and outstanding experience of what you need to do to your home to make it better. The kitchen and bathroom are essential rooms that you should focus on when renovating your home.

Fortunately, a home improvement company can handle bathroom remodeling bathroom renovations and offer you affordable kitchen renovations. It is easy to find such professionals today, thanks to the internet and modern technology. You can get the best bathroom renovations from the best contractors at an affordable fee. Additionally, such renovators are better positioned to explain some of the best and cheap home makeover ideas. It is advisable to source locally for these contractors to ensure you do not incur any unnecessary expenses. You can consider getting referrals from friends, neighbors, and relatives who have worked with a reliable contractor before. This is especially essential if it is your first time looking for home renovation services.

There is nothing wrong with wanting to do home renovation and design to add a little more value to your property at this time. You would be surprised to learn how a little building rehab can significantly add value to your home in ways that you might not have expected. In fact, when looking at the best way to remodel your home, you should understand that something as simple as adding new window shutters might add serious dollars to the closing price on the property when it is all said and done.

Home and renovation projects are not simple, and they cannot be done by just anyone. You can attempt to do the projects that you are certain you have the experience and expertise available for, but you should hire in some real professionals on those jobs that you just aren’t as certain about. It can be a costly thing, but you will certainly be happy with the outcome given that you will be adding value directly to the sale price of your home when you decide it is time to let it go in this white-hot market. There are few things that add so much direct value to your pocket so easily, so make sure you take advantage of this possibility today.

How can I renovate my house for free? How do I design a kitchen remodel? How can I remodel my house with no money? How can I renovate my house for free? How do I renovate my house? These are only but a fraction of the questions that go through house owners’ minds who are looking to remodel their homes. The process of remodeling or renovating demands a lot of attention carefully planned blueprints, subsequent amount of time and energy, money, and with exceptional construction services it can be a successful project. Fortunately for those who are struggling with the aforementioned questions, this article is going to lead you to the long-awaited answers. Gone are the days when one would have to spend twice the money spent on acquiring the house on renovating it or struggling to find exceptional construction service locally and having to outsource expensive contractors. We gladly welcome the ways of today, where you yourself can renovate your home. Yes, you! There are plenty of beginner-friendly projects you can tackle like tiling and painting, and designing too. You can even have friends and family help out. There’s no need to wait for someone to give you that curb appeal, let’s show you how you can do it – and save money too.

When you have an area that would make a good apartment, it”s important to make sure that it is in good condition if you are going to rent it out. This may be a commercial apartment building, an apartment in your home or another structure that you are renting out. You will likely need a remodeling contractor to make the big changes it will take to bring your apartment up to date. Home addition and remodeling contractors understand what today’s trends look like, and they may be able to give you some suggestions for making the space look nice.

General contractors for home improvement can do things like expanding a bathroom, making more living spaces, knocking down walls that make a space choppy and more. It’s a good idea to get some home remodel inspiration and home remodel design ideas before you start the renovations. You can get great ideas from magazines, lifestyle websites and Pinterest. Once you know what you want, you can get home addition and remodeling contractors to work on the apartment and make it a great place to live. With a pretty apartment ready for tenants, you can expect a steady income from that fixed-up property.

Different corporate apartments usually have to be maintained carefully. The owners of these apartments have to make sure that the apartments look modern. If these apartments have any issues, they also must be addressed before those problems get worse. When the apartment is a 1 bedroom available for rent, they won’t have that many rooms to redecorate, but people will be that much more likely to notice every detail.

When people search for a 1 bedroom unit for rent, they’ll still pay attention to the size of the individual rooms. Any 1 bedroom available now can still have spacious rooms, even if the apartment has comparatively few rooms overall. People will expect more from all of the rooms that are present.

Individuals searching for ‘1 bedroom lofts near me’ will be particularly interested in the apartments that use space very efficiently. Lots of people specifically like lofts for this reason. A loft may technically only have one bedroom, but given the size of the overall apartment, the structure will seem very open.

When relatively small apartments use space efficiently, it’s even easier for a lot of people to live there comfortably. The apartments will be somewhat compact but not cramped.

Owning a rental property is a great way to make money. You get monthly payments from your tenants for relatively little work. However, you can make even more money by putting some work into the property. Just as making renovations in your own home can increase its value, remodeling a rental apartment can make it worth much more than it used to be. In addition to getting more money for it when you eventually sell the property, this means that you can charge more for it each month while you rent it out.

The key to remodeling a rental apartment is finding that tricky balance between putting too much money into it and too little. You don’t want to spend more than what you’ll be able to rent it out for, but you want to spend enough to truly make it more valuable and get a tenant who is willing to pay the amount you want to charge. Luckily, there are many renovation projects that are relatively inexpensive but will make a huge difference in the quality of the apartment. Let’s take a look at a few of these projects so that you can get started on making your rental property worth more.

Staying Safe When Remodeling a Rental Apartment

Before we dive into the renovation projects, we should take a moment to discuss renovation safety. You could be working with all types of tools, such as demolition shears and wire cutters, that can cause you harm if you don’t use them correctly and have the proper protection. If you’re doing any of these projects yourself, you need to know how to keep yourself and anyone else who is working safe.

One of the most important safety tips when remodeling a rental apartment is to wear the right clothing and protective equipment. If the weather allows for it, wear long pants and long-sleeved shirts to protect your skin from tools and irritants. You should always wear closed-toed shoes, preferably a pair with reinforced toes to protect your feet from falling objects. Wearing gloves is also a good idea for renovation projects. If you’re spraying, drilling, or sawing, you need to wear safety goggles or glasses. If there is going to be a lot of noise, remember to wear earplugs to protect your hearing.

No matter how many precautions you may take, accidents happen and you need to be prepared for them. Put together a first aid kit before you begin the projects so that you have bandages and ointment available in case you are injured. You should also know where the nearest urgent care is in case of emergency. If someone gets burns or cuts that require stitches, you will need to take them for professional medical treatment and you don’t want to waste time looking up where the closest facility is. It’s much better to be prepared for incidents like these than to be taken by surprise and let an injury get worse because you didn’t know what to do.

Update the Kitchen

The kitchen is one of the most important rooms in any home. A great kitchen is a sign of a great apartment and tenants will be willing to pay more for a kitchen that has updated equipment and aesthetics. Start with the appliances. Make sure that the dishwasher, refrigerator, oven, and microwave all have matching finishes. This will help give the kitchen a more cohesive look. You don’t necessarily need to spend money on top-of-the-line appliances, but upgrading the appliances will boost the function and style of the kitchen.

Once the appliances are up to snuff, consider the countertops and cabinets. If the cabinets just need a fresh coat of paint and new hardware to look modern and fresh, you can do that yourself. If the cabinets and countertops look outdated or grungy and you need to completely gut the kitchen, look up kitchen remodeling companies in your area. You can save more money by going to one company for a total kitchen remodel and you’ll have peace of mind knowing that they did the renovation right. By having a professional company do these renovations when remodeling a rental apartment, they’re likely to be of higher quality and you’re less likely to have to pay for repairs to those renovations in the near future.

Focus on Curb Appeal

The building’s exterior is the first thing potential tenants will see when they tour an apartment. It’s important that the exterior makes a great first impression. The landscaping around the building will have a major impact on the curb appeal. You’ll want to make the front lawn look tidy and well-maintained, but keep the landscaping inexpensive and low-maintenance so that you don’t need to give it too much of your time or money. If you’re willing to spend a little to save in the long-run, it may be a good idea to install automated features like a sprinkler system. Then, you’ll only need to worry about the lawn’s upkeep when you need residential sprinkler system repair. Doing other simple tasks like trimming back trees and installing planters in front of the building can go a long way in boosting the property’s curb appeal.

Another simple way to improve curb appeal when remodeling a rental apartment is to replace or paint the front door. This can give the property a fresh look for relatively little work. If the property has a porch or balcony, be sure that it is clean and well-maintained. Not only does it impact the curb appeal, but a porch or balcony is a big draw for potential tenants.

Another element of curb appeal is the building’s roof. An old roof or a roof in need of repair can make the entire building look run-down. The quality of the roof can also affect the inside of the building, as it is meant to protect against leaks and provide good insulation. If your property’s roof is in need of repair, contact a roofing company.

If it’s been about 20 years since the roof was replaced, ask the company about a total roof replacement. Although a roof replacement is pricier than other projects on this list, it’s a great opportunity to make your property more valuable and more energy efficient. You could invest in metal roof installation, which helps lower energy bills by reflecting sunlight and keeping your home cooler. Metal roofs also last longer and are more durable than standard asphalt roofs, which could help you avoid having to repair or replace the roof again. Another energy-efficient feature you could pursue is working with solar contractors to install solar panels on the roof. This will help keep energy costs down and add significant value to the property. It’s also am eco-friendly amenity that many potential tenants will love, making your apartment more desirable than other ones on the market.

Install New Floors

The floors in an apartment are a key sign of quality. If your property is covered in outdated, wall-to-wall carpeting, consider replacing it with hardwoods. Not only do tenants like hardwoods better, but you’ll have an easier time getting the apartment ready for new tenants if you don’t have to deal with carpeting. Carpeting tends to trap smells and requires more maintenance with deep cleanings and stain removals. Hardwood flooring is also more modern in appearance, which can potentially add more value to your property.

When you’re remodeling a rental apartment, install new floors last. The other projects you need to do will probably create a bit of dirt and dust that will land directly on the floors. If you put down brand new hardwoods before the messy part of remodeling, you’ll have to spend even more time cleaning them up. The exception to this rule is if you’re installing new appliances in the kitchen. Getting new floors in should be the penultimate step and installing appliances should be the very last step.

Renovate the Bathroom

Just as the kitchen is a spot where tenants look for modern updates, so is the bathroom. When you’re remodeling a rental apartment, it can be a huge mistake to skip over the bathroom. Potential tenants want a bathroom that looks nice and that functions well. At the very least, you should make simple improvements such as replacing the toilet seat, the shower head, and the sink and cabinet hardware. These are affordable replacements that can make a big difference in the appearance of the bathroom.

If the bathroom needs plumbing repairs in order to function correctly, contact a residential plumbing company in your area. By calling a professional, you can be sure that the repairs are done correctly and that you won’t have to waste money paying for repairs to the repairs. The plumbing isn’t an area that you’ll want to DIY.

The bathrooms in many rental properties tend to be on the smaller side, so you need to do what you can to maximize the space and give tenants a functional bathroom. One simple way to do this is to install shelves. This will give the tenant storage but it won’t take a lot of room or money. Another option is to convert the bathtub into a walk-in shower. This project will take a bit more money, but it is certain to increase the floor space in the bathroom.

When you’re focusing on the bathroom, be sure to look out for issues like water damage and mold. The bathroom, kitchen, and basement are the spaces in a home that are most likely to have problems like these. If a potential tenant sees any sign of water damage or mold, they’re going to rent from someone else. Hire professionals for mold remediation or water damage repair as soon as you can to fix the issue. Working with experienced professionals is important, as mold will keep cropping up if you don’t get down to the root of the issue.

Create an Open Floor Plan

One of the most sought-after features in a home or apartment is an open floor plan. Not only will the phrase alone be a big attraction for potential tenants, but an open concept will make the apartment feel larger and brighter. Tenants will be willing to pay more for an apartment that feels large and bright over one that feels enclosed and dark, even if the square footage is technically the same.

If you have the time and money, put in the work to transform the apartment into one with an open floor plan. Unless you have experience knocking down walls to open up a space, you should contact a professional for this project. Some walls are load bearing, which means that they hold the weight of the building. Taking down this type of wall incorrectly can mean disaster for the building’s structure. Work with a professional to ensure that the project goes smoothly and you don’t incur greater expenses while trying to create an open floor plan.

Add Popular Amenities

One way to convince tenants to pay more for an apartment is to add amenities that they’re looking for. Certain features will help set your property apart from that of other landlords, fill vacancies, and give you an opportunity to raise the rent.

A key amenity is central air conditioning. If you are remodeling a rental apartment in an older building, you may need to work with a professional to do serious work on the building’s HVAC but it will be worth it. Renters are often stuck in apartments without central A/C and have to resort to window units to keep cool in the summer, taking up their precious window space. If they don’t have to mess with window units and can keep their windows free of them all year round, they’ll probably pay a little more for your property.

Another major draw for renters is a washer and dryer in the unit. Renters often face the challenge of going to a laundromat whenever they need to do their laundry, so having a washer and dryer right in their home adds a significant layer of convenience. Dishwashers are another sought-after appliance in rental units. Tenants will love any type of added convenience and are more likely to pay a higher rent for them.

Renters also value outdoor amenities, like outdoor living areas and off-street parking. If you can provide a place for your tenants to sit outside and enjoy nice weather, such as a patio or balcony, give that to them. If you can create a fenced-in yard for pets, that’s an even bigger bonus for all of the pet owners out there looking to rent. Having a driveway, carport, or small lot for your tenants is another popular amenity, especially in busy areas. If you live in a snowy climate, give your tenants covered parking spots. They’ll love not having to dig their cars out of the snow every time they need to leave the house.

Remodeling a rental apartment can be a major project to take on, but it can be very worthwhile. With just a little bit of work, you can attract more tenants to your property to fill vacancies and start to charge more for the updates you’re making. By remodeling a rental apartment with both cost and value in mind, you can make smart changes that will put more money in your pocket in the long run.

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