When renovating a rental property, it always comes back to return on investment. You never want to put more into the rental property than what you can make back. The kitchen and bathrooms are the two biggest investments you’ll have to make with renovations, so it’s important to think smart. Follow this guide to fix up rental property bathrooms with maximum return-on-investment.
Focus on the Functional Aspects of the Bathroom First
Renters don’t care how nice a bathroom looks if it doesn’t function well. If they can’t use the toilet, tub, shower, etc., they’re not going to be happy with your home. Turn your attention to the functional elements of your bathroom before working on the aesthetics. Make all the necessary repairs and then analyze your remaining budget. From there, you can allot funds for the rest of the kitchen renovation.
Refinish Surfaces instead of Replacing Fixtures
One of the best ways to save money on rental property bathrooms is to refinish surfaces instead of replacing them. If the tile, countertop, tub and other features are still in good shape, you could refinish them and save thousands on bathroom remodeling. The bathroom will look fresh, clean and upgraded, but you don’t have to waste time/money on demolition. Save money on labor and materials while still achieving the look of a remodeled bathroom. It’s the perfect way to maximize ROI for income property.
With tub or tile refinishing, we apply multiple layers of fresh coating over your existing fixtures. You can make old countertops look like marble or make a dingy old tub look crisp white again. There are endless possibilities, and they’re all incredibly affordable. Contact Maryland Tub and Tile to learn more about our refinishing services.
Use Neutral Colors for Rental Property Bathrooms
Bold colors are fine for your personal home, but with a rental, keep things neutral. You want to appeal to the widest possible pool of tenants, and a neutral color scheme will do just that. Tenants can add their own flare to the bathroom with accent pieces and artwork. Give them a foundation of neutrals to build on.
Know What Renters Expect at Your Price Point
There are some factors you cannot change about your rental property, like the location or the square footage of the house. These aspects will limit your rental property income, regardless of the upgrades you do. Consider this as you fix up the bathroom because you don’t want to over invest in the property. Do renters at that price point expect granite countertops? Are they used to not having fully remodeled bathrooms? Think about your audience and plan your remodel accordingly.
You can also check out other rentals in the neighborhood to see what the competition looks like. What kinds of upgrades do neighboring bathrooms include? Would a cleanly refinished bathtub and faux stone countertops make your rental stand out from the rest? You don’t have to pay a lot to entice new renters. You just need to invest in smart upgrades that help your home feel fresh and well-maintained.
If you’re interested in tub or tile refinishing to fix up rental property bathrooms, give us a call at 877-717-8827. Maryland Tub and Tile offers countertop refinishing, bathtub refinishing, shower pan refinishing, and tile refinishing in Maryland and Washington D.C.