Kitchens and living areas tend to swallow the lion’s share of most investors’ budgets during a house remodel. Unfortunately, that often leaves very little for the bathroom, which is often an afterthought despite being a great place to improve your home’s value.
That’s right, revamping your space into a modern oasis for both relaxation and aesthetic mirror selfies is the best way to attract more prospective renters. So we’ve put together some cost-effective bathroom renovation tips for landlords. Now, let’s dive in:
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Cost-Effective Bathroom Renovation Tips for Landlords
Focus on Functionality
Maximize your tenants’ convenience by focusing on functionality. Your bathroom shouldn’t just be a place to quickly clean up and go, it should be an easy-to-use haven that allows renters to grab what they need while still being stylish.
Be intentional about where you place fittings, for example, it would be best to install the towel bar within arm’s reach of the shower rather than the back of the door. Additionally, you should apply the same logic to other things like hooks, shower caddies, and tissue holders. The more functional your bathroom is, the happier tenants will be and the likelier they’ll be to renew their rent.
Spruce Up Existing Bathroom Features
Flex your DIY skills by sprucing up existing bathroom features. One of the most cost-effective ways to remodel your bathroom is to work with what you already have.
In other words, you don’t have to install brand new tiles when you can simply regrout the ones you have, or break the bank for a new mirror when you can easily recut and polish the old one.
You could also look online for other DIY ideas or consult with a Fairfax rental property manager about renovations that most tenants prefer to have in their bathrooms and start with those upgrades.
Repaint Walls if Needed
Speaking of sprucing up existing features, you’ll be surprised how far an extra layer of paint can go in making your bathroom look more aesthetically pleasing.
Refreshing your walls can cover up dirt and grim, turning your room from a tired-looking space to a picture-perfect bathroom. In addition, it would help to use warmer colors if you have a small bathroom to make it look larger and brighten the space.
Shop Smart
A bathroom upgrade doesn’t have to break the bank, especially when you shop smart. Thankfully, the bathroom is the perfect place to get away with fixtures from discount stores without making your house look dated or losing out significantly on quality.
You’ll be surprised how much of a difference switching your cabinet hardware or buying gently used items can make.
3 Benefits of Bathroom Renovation in Your Rental
Increased Property Value
Making your bathroom more appealing can attract quality tenants and boost your overall property value.
Although landlords sometimes overlook the need to renovate their bathrooms, preferring to invest more money in other rooms like the kitchen and living area, its upgrades have one of the highest ROIs.
Aesthetic countertops, new sinks, and efficient toilets are excellent choices if you have a padded budget because they offer up to 80% ROI. However, if you’re pressed for cash, repainting the walls, swapping out the hardware, and installing a humidifier are relatively cheap options that can make a big difference.
Additionally, these updates can significantly increase your resale value if you decide being a landlord isn’t your thing.
Reduced Maintenance Cost
Another benefit of renovating your bathroom is that it reduces your maintenance cost. In the previous point, we highlighted how a humidifier could be a low-cost, high-return update.
Well, that’s because it reduces dampness in your bathroom, slowing down the appearance of mold and reducing the need for residents to grab a mop after every shower.
When you’re working with a limited budget, it would be best to incorporate updates that aren’t only aesthetic but low-maintenance too. After all, what’s the point of installing a fancy countertop that loses its shine when your tenants don’t remember to polish it regularly?
Opting for low-maintenance fixtures costs far less in the long run. Besides, if you invest in durable fittings, you’ll spend less on repairs and attract more hands-off tenants who might be too busy for a deep clean.
Improved Tenant Satisfaction
Enhance overall tenant satisfaction by upgrading your bathroom fittings. Bathrooms are one of the last places to receive attention during a renovation, meaning tenants often have to make do with tired faucets and dingy-looking mirrors.
As a result, property owners who prioritize sprucing up this space improve their tenancy experience. After all, the bathroom is where we pamper ourselves, and renters deserve the same comfort.
Besides, happy tenants are more likely to renew their lease and pay their rent on time, guaranteeing a steady income stream for you. Thus, improving tenant satisfaction can reduce your vacancies and earn you more money.
Conclusion
Bathrooms are an overlooked gem for landlords trying to appeal to more tenants. Upgrades in this space tend to have a high ROI, especially if you’re looking to attract a younger generation.
However, if you’ve blown your budget on renovating your kitchen and other rooms, there are cost-effective bathroom renovation tips you can use.
Always focusing on functionality when organizing your bathroom, updating your existing bathroom features, and repainting old walls are excellent ways to spruce up your space without breaking the bank.
In the long run, renovating your bathroom can help you improve tenant satisfaction, reduce maintenance costs, and increase your property value.
