{"id":14189,"date":"2022-03-04T18:23:37","date_gmt":"2022-03-04T16:23:37","guid":{"rendered":"https:\/\/www.gopillarnews.com\/?p=14189"},"modified":"2023-02-21T19:21:07","modified_gmt":"2023-02-21T17:21:07","slug":"dos-and-donts-of-renovating-rental-home","status":"publish","type":"post","link":"https:\/\/www.gopillarnews.com\/en\/dos-and-donts-of-renovating-rental-home\/","title":{"rendered":"Dos and Don\u2019ts of Renovating Your Rental Home"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_22 counter-hierarchy counter-decimal\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-1\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.gopillarnews.com\/en\/dos-and-donts-of-renovating-rental-home\/#Dos_and_Donts_of_Renovating_Your_Rental_Home\" title=\"Dos and Don\u2019ts of Renovating Your Rental Home\">Dos and Don\u2019ts of Renovating Your Rental Home<\/a><ul class=\"ez-toc-list-level-3\"><li class=\"ez-toc-heading-level-3\"><ul class=\"ez-toc-list-level-3\"><li class=\"ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.gopillarnews.com\/en\/dos-and-donts-of-renovating-rental-home\/#Renovating_a_rental_unit_Replacements\" title=\"Renovating a rental unit: Replacements\">Renovating a rental unit: Replacements<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.gopillarnews.com\/en\/dos-and-donts-of-renovating-rental-home\/#Renovating_a_rental_unit_Laundry\" title=\"Renovating a rental unit: Laundry\">Renovating a rental unit: Laundry<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.gopillarnews.com\/en\/dos-and-donts-of-renovating-rental-home\/#Renovating_a_rental_unit_Landscaping\" title=\"Renovating a rental unit: Landscaping\">Renovating a rental unit: Landscaping<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.gopillarnews.com\/en\/dos-and-donts-of-renovating-rental-home\/#Renovating_a_rental_unit_Paint\" title=\"Renovating a rental unit: Paint\">Renovating a rental unit: Paint<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Dos_and_Donts_of_Renovating_Your_Rental_Home\"><\/span>Dos and Don\u2019ts of Renovating Your Rental Home<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>If you\u2019re the <strong>owner of an investment property,<\/strong> there will likely come a time when you look at your recently vacated unit and decide it\u2019s in dire need of some polish. Perhaps that time is now.<a href=\"http:\/\/www.gopillar.com\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" class=\"alignleft size-large wp-image-16107\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/04\/BANNER-ENG-GENERICO-1024x135.png\" alt=\"\" width=\"1024\" height=\"135\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.gopillarnews.com\/en\/renovate-and-invest-in-the-short-term-rental-business\/\" target=\"_blank\" rel=\"noopener\"><strong>Renovating a rental unit is a great way to increase its rentability<\/strong><\/a> and get it occupied fast, reducing the time it spends vacant (and costly). A freshly renovated unit will also have a greater chance of retaining renters, who typically don\u2019t last more than a few years in one rental.<\/p>\n<p><img loading=\"lazy\" class=\"wp-image-14190 alignnone\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/03\/katie-manning-oSIuIEZZ6v0-unsplash.jpg\" alt=\"Renovating\" width=\"568\" height=\"426\" \/><\/p>\n<p>However, there is a wrong way to renovate your rental. If you don\u2019t<strong> pay attention to costs<\/strong>, you might find you have expended too many resources for too little payoff. If you aren\u2019t thrifty where it counts, you\u2019ll end up paying for things you didn\u2019t plan to.<\/p>\n<p>The truth is this: there\u2019s no guarantee a vacant rental will be occupied if you renovate it. Just like all aspects of real estate investment, there\u2019s <a href=\"https:\/\/www.investopedia.com\/articles\/investing\/122415\/why-real-estate-risky-investment.asp#:~:text=Real%20estate%20investing%20can%20be,of%20the%20real%20estate%20market.\" target=\"_blank\" rel=\"noopener\">a little bit of risk<\/a> inherent, so you want to keep your operating costs, your invested time, and your invested effort as low as possible, while still improving your chances of attracting the right tenant. The <strong><a href=\"https:\/\/utopiamanagement.com\/locations\/reno-nv\" target=\"_blank\" rel=\"noopener\">property managers at Utopia in Reno <\/a><\/strong>have compiled some pieces of advice for what to do, and what not to do, when renovating your rental.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Renovating_a_rental_unit_Replacements\"><\/span>Renovating a rental unit: Replacements<a href=\"http:\/\/www.gopillar.com\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" class=\"alignleft size-large wp-image-16107\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/04\/BANNER-ENG-GENERICO-1024x135.png\" alt=\"\" width=\"1024\" height=\"135\" \/><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><em>Don\u2019t:<\/em><\/strong><\/p>\n<p><strong>If you can help it, don\u2019t replace a thing!<\/strong> Replacing old fixtures and appliances means not only having to purchase entirely new ones, which can quickly add up, but also throwing away what might be perfectly good ones that haven\u2019t yet outlived their value. Replacements should be kept to a bare minimum, to keep costs down. Plus, when you replace one thing, doesn\u2019t it mean you should replace everything? That just won\u2019t do.<\/p>\n<p><strong><em>Do:<\/em><\/strong><\/p>\n<p>Update! Instead of replacing appliances and fixtures, <strong>update them.<\/strong> Let\u2019s take wooden kitchen cabinets as an example. Some landlords might feel compelled to replace old cabinets with brand-new ones. Instead, update the cabinets with new knobs, and do something about the finish. That doesn\u2019t necessarily mean paint. Rather, you could remove the existing paint, sand the wood, and use an inexpensive oil finish for some rustic appeal.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Renovating_a_rental_unit_Laundry\"><\/span>Renovating a rental unit: Laundry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><em>Don\u2019t:<\/em><\/strong><\/p>\n<p>All tenants love having onsite laundry. It is sometimes the only thing that compels them to choose one rental over another. However, it\u2019s not necessary, and it\u2019s even disadvantageous, for you to purchase and install your own laundry machine and dryer. <strong>These machines are expensive up front,<\/strong> and as time goes on, so does the cost of their maintenance.<\/p>\n<p><strong><em>Do:<\/em><\/strong><\/p>\n<p>Instead of installing a laundry machine and dryer,<strong> have hookups for these machines installed in a space that can accommodate them.<\/strong> Many prospective tenants will appreciate the possibility of installing their own washer\/dryer, and you\u2019ll have a huge leg up over the scores of rental units that don\u2019t have such a feature. Bonus points if you have a closet space that fits a stacked washer\/dryer combo!<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Renovating_a_rental_unit_Landscaping\"><\/span>Renovating a rental unit: Landscaping<a href=\"http:\/\/www.gopillar.com\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" class=\"alignleft size-large wp-image-16107\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/04\/BANNER-ENG-GENERICO-1024x135.png\" alt=\"\" width=\"1024\" height=\"135\" \/><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><em>Don\u2019t:<\/em><\/strong><\/p>\n<p><strong>The outside of your rental unit should look as presentable and attractive as the inside<\/strong>, or more so. However, working with professional landscapers is costly, and traditional landscaping is expensive to maintain. While it may seem tempting, and almost like a requirement, to have traditional, professional landscaping at your rental, it\u2019s not exactly worth it.<\/p>\n<p><strong><em>Do:<\/em><\/strong><\/p>\n<p>Instead of the tried-and-untrue practice of laying sod that requires constant watering and treatment, try an <strong>alternative landscaping style<\/strong> that you can do on your own. Forget lawns;<strong> gravel is now in fashion.<\/strong> Gravel doesn\u2019t need water, doesn\u2019t get cooked by the sun like grass, and is easy to maintain. In addition to gravel, think about the plants native to your region. In <a href=\"https:\/\/utopiamanagement.com\/locations\/reno-nv\" target=\"_blank\" rel=\"noopener\">drier climates,<\/a> succulents and cacti will survive on their own. In tropical climates, lush native foliage is affordable and adds excellent curb appeal and style to a rental.<\/p>\n<p><img loading=\"lazy\" class=\"wp-image-14193 size-full alignnone\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/03\/joseph-perez-9lNErGz_3jE-unsplash.jpg\" alt=\"Renovating\" width=\"640\" height=\"429\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Renovating_a_rental_unit_Paint\"><\/span>Renovating a rental unit: Paint<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><em>Don\u2019t:<\/em><\/strong><\/p>\n<p><strong>Don\u2019t get too creative with your paints.<\/strong> When renovating a rental unit, paint is usually first or second on the agenda, and for good reason, since regular use of a space will often cause slight damage and discoloration of walls, whether it\u2019s from cooking, steam from the bathroom, or something else. But don\u2019t think that since it\u2019s time to repaint, you should think outside the box. Fanciful or unique colors may look fun to you, but they will just<strong> limit the number of potential tenants who will get the appeal.<\/strong><\/p>\n<p><strong><em>Do:<\/em><\/strong><\/p>\n<p><strong>Paint your walls a neutral color,<\/strong> like white or off-white. In fact, off-white is the best, since blemishes and small discolorations will blend in and be more difficult to notice, especially under normal lighting conditions. Always use the exact same color for all of your walls, and when it comes to the trim, no, that\u2019s not your time to shine with unusual colors.<strong> Stick to off-white, <\/strong>and always remember which shade you used \u2013 catalog it somewhere, ideally \u2013 so in the event that you have to repaint only one wall, you won\u2019t end up having to paint the rest as well.<\/p>\n<p><a href=\"https:\/\/utopiamanagement.com\/resources\/blog\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" class=\"alignnone wp-image-14201 size-full\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/03\/utopia-logo.png\" alt=\"Utopia Management\" width=\"247\" height=\"37\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.gopillar.com\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" class=\"alignleft size-large wp-image-16107\" src=\"https:\/\/www.gopillarnews.com\/wp-content\/uploads\/2022\/04\/BANNER-ENG-GENERICO-1024x135.png\" alt=\"\" width=\"1024\" height=\"135\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Table of Contents Dos and Don\u2019ts of Renovating Your Rental HomeRenovating a rental unit: ReplacementsRenovating a rental unit: LaundryRenovating a rental unit: LandscapingRenovating a rental unit: Paint Dos and Don\u2019ts of Renovating Your Rental Home If you\u2019re the owner of an investment property, there will likely come a time when you look at your recently &hellip;<\/p>\n","protected":false},"author":11,"featured_media":14198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[255],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/posts\/14189"}],"collection":[{"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/comments?post=14189"}],"version-history":[{"count":7,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/posts\/14189\/revisions"}],"predecessor-version":[{"id":16411,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/posts\/14189\/revisions\/16411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/media\/14198"}],"wp:attachment":[{"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/media?parent=14189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/categories?post=14189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gopillarnews.com\/en\/wp-json\/wp\/v2\/tags?post=14189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}