Rental property is a great investment for many people. Not only can it help to yield a steady stream of income, but it can also help to increase the value of your property. When you purchase a rental property, it can be tempting to just buy the property and then leave it alone. However, if you are to maximize your investment, then you should consider making upgrades to the property.
Check out the top rental upgrades for 2021.
Upgrades for Efficiency
One of the first things that people want to do with their rental properties is to make them more energy-efficient. To do this, look at the house in general.
Insulation
Insulation is one of the most important upgrades that you can make to your rental property. Not only will it help to keep your tenants warm, but it will also help to keep them cool during the summer months.
The best way to insulate your rental property is to either use spray foam insulation or roll-on insulation. Spray foam insulation is more expensive, but it is also more effective. It will also help to keep out the noise that the tenants may come in contact with.
Heating
The heating system in your rental property can be improved by replacing it with a tankless water heater. You can also increase the comfort of the property by using a programmable thermostat, this will allow you to save money by turning off the heater when no one is home.
Also, consider a solar system to help power the personal heating of the property. This will help to reduce your energy bills, as well as give you a steady stream of income.
Waterproofing
A leaky roof can be devastating to your rental property. Not only will it lead to increased leaks, but it will also lead to mold and mildew.
The best way to waterproof your rental property is to use a liquid rubber sealant. Not only will it help to waterproof the roof, but it will also help to seal the joints so that no more water can leak through.
Upgrades for Comfort
While many people will look to make their rental properties more efficient, they will also want to make them more comfortable for their tenants. Here are some of the upgrades that you may want to consider for your rental property.
Flooring
Consider looking into hardwood flooring. Hardwood flooring is very durable, and it can last for many years. Not only will wood flooring help to keep your property insulated, but it will also help to keep your property looking modern.
Kitchen
If you are looking to make upgrades to the kitchen, consider making upgrades to the faucet. Not only will this help you to save money, but it will also help to make your kitchen look new.
Bathroom
Bathroom renovations are a crucial part of any home makeover. Make the bathroom more energy-efficient by adding a tankless water heater. These water heaters only heat the water when it is needed, and they help to save a lot of energy.
You can also add a moisture-sensing fan to the bathroom. This will help to keep the bathroom moisture-free and will help to reduce mold and mildew.
Upgrades for Security and Safety
If you are trying to decide whether or not to invest in a security system, you should consider how much you are trying to protect.
Alarm
One of the most important upgrades that you can make to your rental property is to add an alarm. An alarm can be a lifesaver when it comes to protecting your property. A good alarm system will allow you to know if someone is coming into your property and will alert you if there is a break-in.
Consider one with a backup power supply, this will ensure that your alarm will still work even if there is a power outage.
Security Cameras
Security cameras will allow you to keep an eye on your property at all times. They will also allow you to record anything that is happening around the property. Security cameras are not only affordable, but they are also easy to install. Always consult with your property manager to find the best ways to ensure your property is secured and taken care of.
Upgrades for Aestetics
If you are looking to make your rental property more visually appealing, then you may want to consider adding some upgrades. Adding entertainment upgrades to your rental property will make it more appealing to your tenants.
Landscaping
Landscaping is one of the easiest ways to make your rental property look beautiful. You can choose from a wide range of plants to add to the property. Not only will this make your property more beautiful, but it will also help to keep it cool during the summer.
Outdoor Furniture
Outdoor furniture can make your property look amazing, and it can also help to make the space more inviting to your tenants.
Conclusion
These are just a few of the many upgrades that you can add to your rental property. They will help to keep your property looking good, safe, secure, more comfortable, and appealing to your tenants. Check out more tips and tricks on how to make your rental home shine and make more money in the process!
