Home Renovation Ideas to Help Your Rental Properties Stand Out

Landlords have many responsibilities and one of the most important is property maintenance and renovation.

As a landlord, it can be difficult to find the time to renovate your property(ies) - especially if your own home needs a bit of TLC itself. However, the great news is that renovating your rental property can actually increase your property’s rental value, increasing your earning potential. And if that’s not motivating, we don’t know what is.

That’s why, in this article, we’ll be sharing our top home renovation ideas to really help your property stand apart from the competition.

The Benefits of Renovating Your Rental Property

While renovating a property can seem off-putting initially, it’s a worthwhile investment. Sometimes even small changes can make a big difference; helping increase your monthly income for the long term. Before we get started, if you’re wondering why you should renovate your rental property, here are a few reasons why:

Maintain Property Desirability

Your rental property shouldn’t just provide a safe space for your tenants to live. It should be clean, comfortable, and in good condition. The better you look after your property, the more desirable it will be to existing and future tenants. And as a bonus, rental properties that are well looked after by the landlord tend to be well looked after by the tenants.

Increase Property Value

Some more immediate renovations let you increase the monthly rent, but there are others that will add long-term value to your property. While your existing tenants may not care about the damp course or new roof you’re investing in, your future tenants certainly will. So, it’s important to view home renovation as more of a long-term investment - just like property investment.

Increase Tenant Pool

Renovating your home to be suitable for pets and upgrading your appliances is a great way to increase your tenant pool. The more suitable your property is for a wide audience, the more choice you will have in potential tenants.

Reduce Ongoing Costs

Are you always repairing a leaking roof? Do your energy bills run high even when the property sits empty? Renovating your property is a great way to reduce ongoing costs. While the initial expense may be higher, making much-needed repairs to your property will solve the problem and save you money in the long run.

Improve Renter Satisfaction

Everyone wants a good landlord. If you take care of your property and deal with renters’ requests quickly, you will forge a good relationship built on mutual respect. This means your tenants will be happier renting your property for the long term, saving you the hassle and cost of finding new tenants.

Renovation Tips for Landlords

What follows is a list of renovation tips for landlords keen to increase their property’s value while maintaining a good relationship with their tenants.

Please note, we’re aware the responsibilities of a landlord can be expensive. From construction costs to the loss of rental income while your property is under construction, there can be a lot of expense. That’s why we’ve included a few cheaper tips for those renovating a house on a budget in the UK. We hope it’s helpful.

Change the Layout

Okay, let’s get the more expensive tips out of the way first.

Changing the layout of your rental property is a great option if you have the time and budget to make significant changes. Making changes to the layout of your rental property can help you make the most of the space and transform previously small, cramped rooms into bright, open rooms.

Go for Open Plan

One of the easiest ways to change your property’s layout is to knock down the wall between the kitchen and the dining room to create an open plan feel. This really helps make the property feel bigger than it really is.

Convert the Loft

Did you know that a loft conversion can add up to 20% to the value of your property? Converting your loft into an extra room, bedroom with an ensuite, or studio space is one of the best ways to increase your rental competitiveness.

Build a Garage

There are limited rentals available with off-road parking, let alone garages. Building a garage space with a secure electric garage door is a great way to make the most of your property’s space and increase its competitive advantage. Even if your tenants don’t have a car, they can use the garage as an extra storage space or a home workout area. So, it’s a great investment either way.

Upgrade the Kitchen

In a rental property, whether you have multiple tenants or not, the kitchen tends to be a place for gathering. As such, creating a bright, attractive space is hugely popular with potential tenants. Depending on the budget you have available, you might consider:

Upgrade Kitchen Appliances

Ageing kitchen appliances can bring down the value of your rental property because they tend to consume more energy and feel more unreliable as a result. Replacing your old appliances with up-to-date modern alternatives makes your property more attractive to potential tenants.

Replacing Tile Grouting

Your kitchen should be a clean space. Dirty grouting is extremely off-putting to potential tenants, especially in the kitchen where food is prepared. Replacing the tile grouting will instantly give your kitchen a facelift.

Fit New Cupboard Doors

Sometimes the aesthetic of your kitchen ages the space. Fitting new cupboard doors is a great way to modernise your kitchen and help it feel like a cleaner, more appealing room.

Update the Flooring

Kitchen floors become worn out very quickly. This is why it’s so important to update your kitchen floors when you’re renovating. It doesn’t have to cost the earth. In fact, there are many cost-effective kitchen flooring options available such as laminate, concrete, and vinyl.

Update the Bathroom

The state of your property’s bathroom can be a huge turn-off for potential tenants. That’s why it should be a priority if you’re looking to renovate. There are many options available, but a few things we’d suggest include:

Installing Effective Ventilation

Most tenants don’t open the windows after they’ve showered, leading to lasting problems with mould and dampness. That’s why we suggest installing a fan to remove excess moisture from the air and prevent the need for costly repairs in the future.

Consider Lighting

A well-lit bathroom is essential. We recommend opting for zone lighting - this is where lights are placed strategically in the areas they’re needed the most, for example over the bathroom mirror and above the wash basin.

Retile and Repaint

Sometimes a bathroom looks dirty when it actually isn’t. This can be due to grubby tiles, grouting that’s moulding, or paint that’s faded or discoloured over time. Sometimes, a simple re-tile and re-paint is all it takes to refresh your bathroom.

Replace the Whole Suite

If you have the budget and your bathroom is particularly rundown, you might consider replacing the whole suite. To increase your property’s rentability, install a bath as well as a shower. Baths mean your rental is also suitable for families with little kids. Of course, replacing your bathroom suite can be a big investment but the finished aesthetic and the value it adds to your property is well worth it.

It’s Time to Get Started

Now that you have a number of renovation ideas to play around with, it’s time to get started. Home renovation doesn’t have to cause an upheaval for your tenants or be crazy expensive. It’s all about looking at the property you have, the improvements that can be made, and doing what you can with the budget you have available. Hopefully the ideas we’ve shared provide some inspiration.