Avoid Design Trends and Save Money When Renovating Rental Property
Home design goes through just as many fads and changes as fashion. Renovations to your rental property are inevitable, but following trends can end up costing you money in the long run. A trendy unit will be highly marketable for a bit but will quickly feel out of date.
Here are a few current trends to avoid during your renovations:
Granite
Granite countertops may be talked about as the go-to option for kitchens, but they aren’t worth the investment. While it’s been on trend for a long time, granite is expensive and doesn’t add much value to your property. Opt instead for quartz or treated laminate counters. They are much more affordable and still look nice.
All white
As you know, it’s important to keep rental properties neutral, but avoid choosing all white everything. It’s trendy right now to have all white kitchens and bathrooms. This doesn’t play well in a rental property because white will show wear and tear quickly. Instead, opt for other neutrals such as a nice wood or gray finish.
Faux finishes
Faux finish walls sound nice in theory, but they’re a real pain to get rid of. Faux finishes mean lots of texture on a wall which requires sanding to get rid of. Additionally, a faux finish won’t add any value to your rental property and will just waste time and money. If you allow your tenants to paint accent walls, do not let them paint faux finishes. You don’t need to keep the units pure white, but choose neutral wall colors so they will go with a variety of furnishings.
No blinds
There’s a minimalist trend to forgo window treatments that you should avoid. It may sound like a cost-saving measure to not install new blinds in your units, but in the end, it will do more harm than good. Tenants will feel forced to install curtains, doing damage to your walls. If they don’t hang window hangings, then the unit is at risk for sun damage. Direct sunlight can fade paint require you to paint more often and spend more money.
Statement doors
The idea of a bright yellow or blue front door may sound like fun, but as with many current trends, it will only end up costing you more money. Choose front doors that are neutral and clean. Think a nice matte black, gray or even wood. Brightly colored doors may attract tenants for a short time, but they will quickly go out of style and need to be repainted or replaced.
If you need help managing renovations, tenant turnover and more, contact us today. We’re a full-service property management company in the Denver/Boulder area.
