Investing in a new retail property can be a rewarding but expensive venture. While there is a lot of upside to investing in this type of real estate, it’s really important to make sure you’re putting your home improvements into the right places to maximize your ROI.
Below, we’ll cover a wide range of strategies you can follow to make sure that any improvements you make are helping, not hurting your profitability.
Maximize Curb Appeal
The outside of your property is what potential renters will see first. Even if you don’t have very many features outside, it’s important to look for ways to brighten up this space as much as possible. You’d be surprised how nice curb appeal can make a showing all that much more successful.
Some ideas you can incorporate are caring for basic landscaping needs, as well as removing any weeds from flower beds or gardens. Depending on the age of your property, it may be a good decision to pressure wash walkways, driveways, or the siding of the building. You can also give it a fresh coat of paint to really improve the “wow factor” before a potential tenant even tours the inside.
Introduce Practical Kitchen Updates
Kitchens are one of the most visited rooms in any home. Because of this, they are often the stars in most property showings. You should really capitalize on this by looking for ways to help this area pop.
The good news is, you don’t necessarily need to coordinate larger renovation projects when trying to improve a kitchen. Even smaller, but more visual updates can make a big difference. This could be as simple as installing newer cabinet hardware or updating the backsplash along the walls attached to countertops.
Improve Bathroom Fixtures and Finish
Much like kitchens, bathrooms are another commonly used area of the home. Even if you have only one bathroom or not much room to work with, it’s still important that you give these rooms careful consideration.
A good place to start is the lighting in your bathroom. You should make sure the area is well illuminated to help give the space a cleaner look and help it appear larger than it is. Another thing to consider is some strategic bathroom renovation options.
A common project to take on is to uninstall older water fixtures and update them with modern, low-flow systems. These are much more eco-friendly and reduce water waste, helping to lower utility bills. Plus, they often look much newer and more modern than older features.
Optimize Energy Efficiency
Renters today are increasingly conscious of their monthly operating costs. If you take this into consideration, you could make your property’s energy efficiency a really good selling feature.
An easy way to start this process is by looking at different technology solutions that can help you reduce unnecessary energy consumption. Smart thermostats are an easy upgrade you can install that can save you and renters significantly over time.
Another strategy, especially when improving an older property, is to replace all standard lighting fixtures with LED options. These are nearly 10 times more energy efficient and last much longer. They also come in many different brightnesses and temperature options, allowing your tenants to customize the look and feel of their living space.
Make Smart Paint and Flooring Choices
When updating surfaces, you should always think about their durability and maintenance needs. In high-traffic areas like entryways, kitchens, and bathrooms, make sure that you’re installing easy-to-clean flooring options. A good option to consider for this is Luxury Vinyl Plank (LVP) or tile.
For walls in these same areas, youould also consider what color option is most practical. Whenever possible, try to use neutral, fresh paint colors like soft whites, light grays, or beige tones.
Increase Functional Storage Options
One thing that all homeowners and renters need is more storage. But this is especially the case if your rental property has less square footage than other comparable properties. You can make up for this reduced living space by helping renters make the best use of it while still being able to store their belongings optimally.
Selecting furniture options with built-in storage solutions is a great way to do this. It allows tenants to get full value from the space they have to work with while still having subtle, hidden places around the property to store things.
You might also want to consider adding basic shelving units in utility areas like your laundry room or garage. Giving your renters this type of convenience can add significant value to the property and increase your chances of closing.
Integrate Smart Home Technology
Installing modern doorbell cameras or keyless entry systems is another way to impress potential tenants.
Many younger renters have become accustomed to a certain amount of technology available in their living spaces. The ability to manage access remotely to the property and have a level of security are both excellent selling points.
Start Brining In More Rental Income
Increasing your rental income doesn’t require extensive, budget-breaking renovations, but it does need some careful consideration about where to place those budgets.
By making high-impact, tenant-focused home improvements, you significantly increase your property’s perceived value while allowing you to charge higher rental rates for longer.
Author Information
Author Name: Rebecca Denis
Author Bio:
Rebecca Denis is the Head of Interior Design at Revive Real Estate and an accomplished interior designer with over a decade of experience creating inspired, functional spaces. Known for her refined aesthetic and meticulous attention to detail, Rebecca brings creativity and strategy together to transform everyday interiors into meaningful experiences. She’s built a reputation for turning ideas into inspiring spaces that balance beauty, comfort, and function. Rebecca’s diverse portfolio includes commercial projects, curated show homes, and bespoke custom interiors—each reflecting her belief that thoughtful design can elevate how people live, work, and feel in a space.
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