When it comes to upgrading one of your rental units, deciding on the best products can get confusing. Most landlords want durable, affordable, and reliable products, but they don’t always know where to begin the search. In addition, certain products are used for different types of property. At Pivot Property Management, we suggest certain upgrades for our owners. If you know a contractor, such as TempranoConstruction, or have experience in this field, you will most definitely have an understanding. Depending on the types of property you own, these are my top 5 upgrades for landlords and property managers
Flooring
Choosing the proper flooring for your rental unit can become taxing. While there are many types of flooring out there, you want to stick with something that’s durable, scratch and dent resistant. “Floating vinyl flooring has boomed over the past few years and has been a godsend for landlords.” They are scratch and dent resistant, water resistant, relatively easy to install, and affordable. These planks come in different sizes, and different colors. They click together with a few tools and provide a clean modern look that will withstand the abuse tenants can instill. I recommend installing these floors in C+ and B properties, especially in hallways, kitchens, living rooms, and bedrooms.
In regards to the A and B+ properties I recommend genuine hardwood flooring or and engineered hardwood. The price will be higher, however you can collect more on the rent and these floors will be treated far better than if they were in a C property.
Bathroom Flooring
When choosing a bathroom floor, I recommend either an affordable ceramic, travertine, or porcelain tile. These options will hold up better to water, steam, and mold. I would also highly recommend tiling the walls of the shower area and 3-4ft up on all the walls in the bathroom. Ceramic and porcelain will stand up to heavy traffic and abuse if installed properly and it won’t be heavy on the wallet.
Whichever option you go with, I highly recommend staying away from carpet, and cheap glue down flooring. Carpet will collect bacteria, smells, and other stains, and glue down flooring will chip, and pull away from the subfloor. You will find yourself replacing and repairing floors more often than you need too.
Cabinets and Counter Tops
The kitchen, next to the bathroom is probably the most used room in a house or apartment. It’s no wonder most of the repairs will be made in one of these 2 rooms. When it comes to picking out cabinets I recommend stock. They are affordable and durable. If your apartments are more elegant and newer then I recommend semi-custom cabinets. These will cost a bit more but again you will most likely be charging more rent in these areas. Unless your property is a B+ or A property, I would not install upper cabinets. They are a waste of money in a rental. A great saver is shelving in place of the upper cabinets. It’s a modern sleek look and saves on the wallet.
Picking a countertop is relatively easy
If you’re installing stock cabinets I would stick with a laminate countertop from Home Depot or Lowes. Again, in your B+ and A properties installing quartz is best as it is most durable for continued use. Another option instead of laminate countertops is butcher block. Even though wood is porous, sealers can help with this problem, and it is still a great affordable countertop. Just keep in mind, you’re not living there. Sometimes you have to take yourself out of the situation.
Appliances
Believe it or not, appliances are a key component to any rental, especially if you have laundry in the unit. Keeping appliances up to date and functional can be time consuming and costly. Your best option is to bundle and save. Most places like Home Depot, Lowes, Best Buy and countless other company’s provide the bundle and save method. You will be able to get a microware, stove, refrigerator, and dishwasher for a discounted price. Throw in the washer and dryer and you will save even more. Again, depending on what type of property you own will determine how high end you will go with your appliances. Lastly, I recommend signing up with your utility provider or another service provider protecting your appliances. This helps if something goes wrong as they will come out and repair the appliance for free. This can save you thousands of dollars long term.
Electrical Panel
Updating your buildings electrical panel is a key factor ensuring safety and saving money. Older homes and buildings will require a service update due to the demand of today’s appliances and electrical output. To accommodate today’s typical electric demand with high power-consumption appliances, a 200 Amp panel is recommended. This will ensure a safe environment for landlords and tenants.
Becoming a property manager or landlord can be confusing and demanding at times. Knowing you have solutions in place will help when issues arrive. Properly installing durable products and upgrades will allow for more rental income, safety, and less hassles in the years to come. Remember, at TempranoConstruction, we are here to help with any projects.
