Six Easy Rental Property Upgrades You Can Do Yourself
Fixing up a rental property takes time, labor, and capital. There’s no inexpensive way to fully remodel a bathroom or kitchen, but you can increase rental value with smart, small upgrades potential occupants will love. If you’re looking to retain or attract renters while sticking to your budget, check out the best rental property upgrades for under $1,000 – and you can install them yourself!
How to Increase Rental Property Value (Without Breaking the Bank)
Basic Guidelines
While every prospective renter has unique tastes and preferences, a few universal traits appeal to most.
› Prioritize the right spaces. Kitchens and bathrooms typically have the best return on investment for any renovation, remodel, or simple upgrade. Think clean, modern, and functional.
› Keep it safe. Safety is one of the top considerations for any renter. Make sure you have new, modern locks and exterior lighting, and consider offering an alarm service – this will protect your investment and keep occupants safe.
› Make it modern. Fast Wi-Fi and tech-focused amenities attract target renters. Smart appliances and thermostats are additional improvements to increase rental value and make your renters feel futuristic!
› Location, location, location. In your rental listings and ads, emphasize the positive aspects of your property’s location by highlighting nearby shops, restaurants, gyms, or parks. Aside from price, location is the top consideration for most renters!
Three Rental Bathroom Upgrades Renters Love
The delight is in the details! These three DIY rental property upgrades will make your bathroom a haven of the home.
1. Think Bliss – The BB-2000 is Bio Bidet’s flagship bidet toilet seat, and with good reason. It offers a host of features, including a heated seat, wireless remote, and a slow-closing lid and seat (a nice feature for apartment buildings). Plus, it installs in 30 minutes or fewer, so your tenants can enjoy it quickly.
2. Update Your Faucet and Fixtures – Replace your old bathroom faucet with a sleek, modern option – bonus points if it’s touchless. If you have leftover cash, consider replacing your lighting fixtures to match the faucet for an immediate bathroom vanity facelift.
3. Replace the Shower Curtain and Hardware – A new shower curtain is an immediate upgrade that saves new occupants time and money. Opt for a bright, bold color, or play it safe with something neutral.
Three Rental Kitchen Bathroom Upgrades
Folks spend an hour or more in the kitchen per day, and it’s often where families entertain guests, tell stories, and connect. Offering a well-furnished, modern kitchen attracts tenants who prioritize ample storage, counterspace, and convenience. If that’s your target renter, these easy rental kitchen upgrades are a must.
1. Freshen Up the Paint – Kitchen trends change frequently, and painting your kitchen is a low-cost way to modernize the space. Add a fresh coat of your existing paint color, focus on cabinets, or repaint the entire room for a completely new look. Make sure you update the cabinet handles while you’re at it!
2. Replace Your Faucet – The average family uses the kitchen tap around 40 times a day. It’s an inherently visible part of the kitchen and a great opportunity to introduce an updated look. Opt for a touchless faucet to add some tech to the kitchen, and pair the color with your new cabinet handles to complete the look!
3. Keep It Organized – Adding cabinet and drawer organizers is a nice way to help tenants stay organized. Most kitchen cabinet organizers are inexpensive and come in a range of sizes to fit your space.
Are Rental Property Upgrades Tax-Deductible?
Small rental repairs and upgrades are typically tax-deductible in the year they were completed. The enhancements described here will likely fall under the “safe harbor” rule, which allows for deductions on improvements or repairs valued at less than 2% of the home's unadjusted basis (value) or $10,000 total.
Most large rental property improvements are considered capital expenditures, which means they must be capitalized and depreciated over their useful lifespan. That means you’ll deduct a portion of the cost of each improvement over several years. This capital expenditure tax requirement covers remodels, major renovations, and other big-ticket investments.
What Renters Really Want
Your rental property is home – people want to feel safe, comfortable, and empowered with modern features and simple pleasures, too. Invest time in keeping your property clean and appliances working. Introduce those small, desirable features that make the space more appealing to rent. While you can’t change your rental’s location, you can celebrate the positives of nearby grocery stores, shops, restaurants, or other perks based on your ideal renter profile.
We think there’s a lot of value to be found in the bathroom. We offer the industry’s best line-up of bidet seats, attachments, and toilets, and we make it easy to find the perfect fit with our Bidet Quiz.