Knowing how to raise rent is essential for any landlord in the Valley. However, it isn’t enough to just have market timing on your side. Raising your rent should stem from giving your tenant a reason to pay higher fees for your property. Luckily, your property does not have to undergo extensive renovation to justify an increase in rent!

Here are a few budget-friendly options that will significantly impact your unit, speed up rentals, and elevate your prices.

Invest in New Flooring 

One of the most noticeable features a tenant will look at is flooring. Worn carpets or scratched floorboards can significantly compromise an otherwise pristine unit. Investing in new flooring, such as luxury vinyl plank or tile, is a foolproof way to update and modernize any space without a large budget. Plus, these floors are easy to clean and maintain. 

For Phoenix landlords, tile offers added benefits, such as remaining noticeably cooler in hot temperatures. This durable flooring can also withstand the wear and tear of new tenants moving out, saving you money in the long run.

Upgrade Cabinets Instead of Replacing Them 

Cabinets tend to be a costly renovation project, but it’s not always necessary for a kitchen remodel. Refinishing and repainting existing cabinets and updating hardware can instantly transform an old kitchen with significantly less cost.

This renovation will also make a positive impact when listing photos and showing prospects the unit. Upgrading cabinets can be especially cost effective when managing multiple units, and the same paint and hardware can be used for consistency. 

Update Fixtures and Hardware

There’s no better way to achieve an instant visual upgrade with minimal cost than updating fixtures. Changing outdated faucets, cabinet hardware, and light fixtures can make a property look more updated and well cared for almost immediately.

For Phoenix properties, lighting plays a bigger role than many landlords realize. This is because many rentals will utilize an overhead fixture in the kitchen or living space to provide ample light, and that’s it. Layering with ambient, task, and accent lighting can be an attractive feature for tenants, making the space feel warmer and more functional. 

Apply a Fresh Coat of Paint

Nothing says “move-in ready” like a coat of fresh paint. This is another inexpensive renovation to make for a rental, and often the fastest to update the look and feel of the entire place.

Neutral and trendy colors are most likely to attract tenants, and this renovation also sends the message that the property is well kept by the landlord. While there are many paint options out there, JD Lux Improvements typically recommends 100% acrylic latex paint with an eggshell or satin finish because it resists scuffs, cleans easily, and dries quickly. 

For Phoenix landlords looking to enhance their curb appeal, take into consideration a paint refresh of exterior siding. The heat will cause exteriors to wear faster in this climate. 

Refurbish Bathrooms 

Bathroom renovations do not have to be expensive. Resurfacing an older tub, shower, or countertops will give the bathroom a brand-new look and feel without any demolition or the expense of a full rebuild. This is a great option if you are looking for an upgrade that is relatively quicker and less costly. Plus, tenants feel like they are getting something brand new! 

Offer Better Ventilation and Cooling

When you live in the desert, indoor comfort is everything. While replacing your unit’s AC may not be a budget-friendly renovation, you can enhance cooling with simpler updates. For example, adding fans to key locations such as bedrooms and living rooms or installing a better ventilation system in the kitchen, can create a more noticeable comfort difference for potential renters viewing a unit, especially during the summer months. 

Why a One-Stop Contractor is Advantageous for Landlords 

Apartment renovations can quickly get costly without proper management. If you have separate contractors for flooring, painting, and cabinet updates, all of those separate contractors’ prices and timelines would add to your overall cost, especially when additional time means additional loss.

JD Lux Improvements handles all of these renovation tasks including flooring, resurfacing, drywall, painting, fixtures, and cabinetry, all with one team. This allows you to experience a more streamlined and faster renovation process for each of your rental units, whether you have a single property or a growing portfolio throughout Phoenix. 

Gaining the Most for Your Renovation Investment 

Don’t just renovate to spend money; spend smartly. Investing wisely in flooring, cabinets, fixtures, painting, and bathroom resurfacing will create a much better impression on potential tenants, allow your unit to rent quicker, and justify a higher rent without the expense and time commitment of a full renovation.

Contact JD Lux Improvements at (602) 718-7527 to schedule a consultation to determine which renovations will be best for your rental property.