Rental homes really only need to be painted every four or five years. In between tenants, a good cleaning and a good once-over with the Magic Eraser will take care of most of the scuffs that the walls endure. But when you do repaint, what color should you reach for—your favorites? White? Trendy colors?
Experts say no. In fact, if you learn a little about the psychology of color, you can use the touch up in your favor and maybe even get your rental property rented faster. Here are the basics:
• Green: Health, tranquility, money, nature.
• Purple: Royalty, health, success, wisdom.
• Pink: Calming, love, romance.
• White: Purity, innocence, empty, spacious.
• Brown: Reliability, practicality, boredom, Earth.
• Orange: Excitement, enthusiasm, …show more content…
Going from wall-to-wall carpet to a hard floor like tile, wood or wood laminate may get you up to $150 more in rent each month. Plus, these flooring styles are easier to maintain and require less maintenance. Using carpet in some areas, like living spaces and bedrooms, can give your space more character than using the same flooring throughout.
• Washer/dryer. By adding a washer/dryer to your rental property, you may be able to get as much as $50 to $80 more in rent each month.
• The Whole Package. Upgrading your rental property to granite counters, updated flooring, brushed-nickel lighting and new appliances in one shot can help net you anywhere from $200 to $300 more each month in some markets.
If you’re trying to figure out what to renovate first, just look around. Don’t rip out new stuff just to make way for newer stuff. Paint when the walls need it, not just when they’re dirty. Replace items that are worn out, not just outdated.
If you’re renovating to increase rent, check out other rentals in your area that are in your target rent range. Look at the amenities in properties that are similar in square footage, number of bedrooms, bathrooms and location to yours and go from …show more content…
One landlord in Brooklyn did and ended up with fantastic results. It’s not an arrangement that just anyone could pull off, but if your tenants have the vision and the expertise, you could end up with a newly renovated property for the price of a rent discount.
The Details
Todd and Marlene Capron were about to be priced out of their West Village studio when their landlord decided to raise rent by $500 a month. To compensate, the Caprons moved into a 2-bedroom in Prospect Heights, Brooklyn. However, the apartment was not only outdated, but had serious issues like a refrigerator blocking the fire escape, a water main leak, as well as smoke and water damage.
But since the price was right, the Caprons came up with a plan: $19,000 in renovations in exchange for a $400 a month discount in rent over the next four years. The landlord agreed, and the Caprons went to
Experts say no. In fact, if you learn a little about the psychology of color, you can use the touch up in your favor and maybe even get your rental property rented faster. Here are the basics:
• Green: Health, tranquility, money, nature.
• Purple: Royalty, health, success, wisdom.
• Pink: Calming, love, romance.
• White: Purity, innocence, empty, spacious.
• Brown: Reliability, practicality, boredom, Earth.
• Orange: Excitement, enthusiasm, …show more content…
Going from wall-to-wall carpet to a hard floor like tile, wood or wood laminate may get you up to $150 more in rent each month. Plus, these flooring styles are easier to maintain and require less maintenance. Using carpet in some areas, like living spaces and bedrooms, can give your space more character than using the same flooring throughout.
• Washer/dryer. By adding a washer/dryer to your rental property, you may be able to get as much as $50 to $80 more in rent each month.
• The Whole Package. Upgrading your rental property to granite counters, updated flooring, brushed-nickel lighting and new appliances in one shot can help net you anywhere from $200 to $300 more each month in some markets.
If you’re trying to figure out what to renovate first, just look around. Don’t rip out new stuff just to make way for newer stuff. Paint when the walls need it, not just when they’re dirty. Replace items that are worn out, not just outdated.
If you’re renovating to increase rent, check out other rentals in your area that are in your target rent range. Look at the amenities in properties that are similar in square footage, number of bedrooms, bathrooms and location to yours and go from …show more content…
One landlord in Brooklyn did and ended up with fantastic results. It’s not an arrangement that just anyone could pull off, but if your tenants have the vision and the expertise, you could end up with a newly renovated property for the price of a rent discount.
The Details
Todd and Marlene Capron were about to be priced out of their West Village studio when their landlord decided to raise rent by $500 a month. To compensate, the Caprons moved into a 2-bedroom in Prospect Heights, Brooklyn. However, the apartment was not only outdated, but had serious issues like a refrigerator blocking the fire escape, a water main leak, as well as smoke and water damage.
But since the price was right, the Caprons came up with a plan: $19,000 in renovations in exchange for a $400 a month discount in rent over the next four years. The landlord agreed, and the Caprons went to