Bangor rental properties are more cost-effective when their interiors are designed to stand the test of time. Trends may be great in the short term, but keeping your rental updated on trends can mean costly renovations! Instead, you can make your rental property profitable by giving it a look that will last well into the future. Here are some ways you can keep your rental not only relevant but ready for what comes next to future-proof your rental home.
Choose Classic Over Trendy
It is tempting to appeal to today’s renters by finding ways to incorporate the latest fad into your rental home’s interiors or exteriors. But to create a timeless look that will last, it’s a much better idea to stick to a simple, classic design. The classic design emphasizes the functionality and adaptability of simple, sophisticated styles. The classic look usually uses neutral colors and natural materials like wood, stone, and brick. Compared to loud, trendy designs, classic design is timeless and will complement a variety of aesthetics. This design outlasts short-lived design fads. This is one of the first steps to create a future-proof rental property.
Keep Walls & Floors Neutral
Trendy colors come and go almost as quickly as most other fads. Before you add that accent wall or start repainting your property the color of the year, you might want to think about how often you will need to repaint to keep your rental property from looking dated. To give your rental home that timeless appeal, choose neutral shades for your paint and flooring instead. Neutrals give your rental house a nice backdrop that your renter can customize to suit their own style. The use of soft beiges, grays, and crisp white trim can accentuate a room while still allowing the resident to make it feel like home.
Invest in Good Lighting
Future-proofing your rental property also means investing in quality lighting fixtures and bulbs. For many landlords, lighting in their rental homes is an afterthought. Hoping to save a few dollars, they opt to use the cheapest light fixtures and bulbs available. Although they appear to have saved in the short term, investing in good lighting actually decreases utility costs and may even increase interest in your rental house, making it easier to rent and encouraging renters to stay longer. This is because few renters want a home that has dark or inadequately lit rooms. If your rental has old, outdated light fixtures, it is time to replace them with fixtures that provide enough light. Replace tacky fluorescent lighting with clean, modern recessed lighting that is both functional and versatile. If anything else, ditch those cheap light bulbs for long-lasting LED bulbs. By itself, this will increase energy efficiency and reduce how often you need to change light bulbs in a year.
Add Smart Upgrades
Finally, you might want to consider installing smart technologies. Ready your rental property for a future where these technologies will be in demand by adding smart upgrades early on. A smart thermostat can help reduce utility costs and appeal to renters who like the convenience of being able to control it from their smartphones or tablets. Smart locks are also budget-friendly investments that offer convenience and peace of mind for residents when they have to be away from their homes.
You can choose to either add these smart home technologies over time or invest in them all at once. Establish your rental property’s location and figure out what your target renters want so you can begin making upgrades before the opportunity passes you by.
Would you like to learn more about strategies to make your rental home as profitable as it can be, year after year? Give Real Property Management Acadia a call! Our Bangor rental market experts can offer valuable tips and suggestions to maximize your investment property’s potential, as well as our highly-rated property management services. You can reach us online or call us at 207-561-7482.
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