Thinking about renovating your Boise rental property? Smart renovations can make the difference between a vacant unit and one that attracts high-quality tenants willing to pay more. The right improvements make your property look better and can increase its value, reduce maintenance headaches, and keep renters happy long-term. However, not all renovations are worth the investment.
Some upgrades pay off big time, while others drain your budget without adding real value. Knowing where to put your money can help you maximize returns and stay ahead in Boise’s competitive rental market.
If you’re ready to boost your rental’s appeal and increase ROI without overspending, here’s what actually works.
A. Enhancing Property's Curb Appeal to Attract More Tenants
When it comes to attracting potential renters, first impressions are everything. They are more likely to be drawn to a property's inviting and maintained curb appeal, especially when they’re choosing between multiple options.
1. Fresh Paint on the Front Door and Trim
The front door is the focal point of the entryway, and a bright, updated color can make the home feel welcoming and modern. The trim, often overlooked, can start to look dingy or faded over time, so refreshing it with a new coat of paint can make the whole exterior appear cleaner and more cared for.
2. Outdoor Lighting
Outdoor lighting can highlight the best features of your home’s exterior, such as landscaping or architectural details, and give it a warm, welcoming vibe that draws people in. Plus, motion-sensor lights near entryways or along pathways offer both convenience and security for your tenants.
Pro Tip: Go for solar outdoor lamps or lights for energy efficiency.
3. Low-Maintenance Landscaping
Simple, drought-resistant plants like succulents, native grasses, and shrubs can create an inviting front yard with minimal upkeep. Adding fresh mulch to flower beds gives the yard a polished look while helping to retain moisture for the plants. Regular trimming of bushes and removing dead or overgrown plants keeps the yard looking tidy and cared for, making it feel like a space tenants would want to call home.
Pro Tip: The less time and money your tenants need to spend on yard work, the more appealing your property becomes.
4. Modern Mailbox and Updated House Numbers
A modern, stylish mailbox instantly makes the exterior feel more polished, while updated house numbers ensure that your property is easy to find and looks well-maintained. These inexpensive changes can elevate the property’s first impression, making it appear more updated and inviting.
B. Interior Rental Property Renovations That Justify Higher Rental Rates
Inside, tenants look for clean, functional spaces that feel modern. Outdated finishes or cheap materials can turn them away, while small upgrades can help you stand out from the competition and promote higher rental income.
1. New Flooring Options
Flooring is a major factor in how a property feels, and renters immediately notice it. Hardwood floors and durable vinyl plank flooring are great choices for rental units because they are budget-friendly and long-lasting.
Hardwood floors add warmth and luxury but can be expensive and require upkeep. Meanwhile, vinyl plank flooring is affordable, scratch-resistant, and easy to clean, making it a tenant-friendly option.
2. Updating Light Fixtures
Outdated light fixtures can make an entire room feel tired and dark. Swapping them out for modern, stylish fixtures helps brighten up the space and gives it a fresh, updated look. New light fixtures can also make a room feel more open, creating an inviting atmosphere.
3. Fresh Interior Paint with Neutral, Trending Colors
A fresh coat of paint can instantly make a space feel new, bright, and clean. Neutral, trending colors are the best choice because they appeal to the widest range of tenants. Soft grays, off-whites, or beige tones help rooms feel bigger and allow tenants to imagine their own furniture and style in the space easily. These colors also help create a more cohesive, modern look throughout the property.
4. Upgrading Window Treatments
New window treatments also offer better light control and privacy for tenants. They don’t have to be expensive. Just choosing the right style can make a room feel more finished and inviting.
5. Replacing Outdated Doorknobs, Cabinet Handles, and Other Small Hardware
Small hardware upgrades might seem minor, but they can significantly change the overall look of a property. Replacing old doorknobs, cabinet handles, and faucets with modern options can make a big difference. These updates are inexpensive and easy to do, but they create a polished, cohesive feel throughout the rental.
C. Kitchen and Bathroom Upgrades for Higher Rental Value
Upgrading the kitchen and bathroom is one of the best ways to increase ROI and property's market value. Tenants spend a lot of time in these spaces, and they expect them to be clean, modern, and functional. Here’s how property owners can make smart updates that boost appeal and rental income.
1. Refinishing or Refacing Kitchen Cabinets Instead of Full Replacements
Replacing kitchen cabinets is one of the most expensive renovation projects, but in many cases, it’s not necessary. If the cabinets are structurally sound, refinishing or refacing them is a much cheaper alternative in renovation costs that still delivers a fresh, updated look.
2. Adding a Backsplash to Create a Modern Kitchen Feel
A backsplash is a small detail that makes a big difference. It makes the kitchen feel more high-end, even if the rest of the space hasn’t been fully remodeled. It also protects the walls from spills and splashes while also adding style and personality to the kitchen.
- Peel-and-stick tile: Budget-friendly and easy to install, making it great for renovating rental properties.
- Classic subway tile: A timeless look that appeals to a wide range of renters.
- Neutral colors: Keep it simple so it blends well with different kitchen styles.
3. Upgrading Countertops with Cost-Effective Materials Like Quartz or Butcher Block
New countertops instantly refresh a kitchen, making it more attractive to tenants without requiring a full renovation. While granite is a popular high-end choice, it’s expensive and unnecessary for a rental. Cost-effective materials like quartz and butcher block offer durability and style without the hefty price tag.
4. Showerhead Replacements and Updated Faucets to Refresh Bathrooms
Bathrooms don’t have to be fully remodeled to feel modern. Swapping out outdated fixtures for newer, stylish ones can make a noticeable difference, such as:
- High-pressure or rainfall showerheads: A small upgrade that adds a spa-like feel.
- Modern faucets in matte black, brushed nickel, or chrome: Instantly updates sinks and showers.
- Touchless faucets: A sleek, hygienic option that’s becoming more popular.
5. Installing In-Unit Laundry to Attract Long-Term Tenants
If space allows, adding in-unit laundry is a game-changer. It is a major perk that attracts long-term potential tenants, reduces turnover, and justifies higher rent prices.
- Stackable washer/dryer units: Great for small spaces like closets or hallways.
- Compact, energy-efficient models: Save space and reduce water/electricity usage.
- Washer/dryer hookups: If a full unit isn’t possible, even adding hookups makes the property more appealing.
6. Adding Storage Space to Enhance Functionality
More storage means tenants can keep their space organized, making the rental more attractive and comfortable. Small upgrades that increase storage make a rental more functional and desirable, such as:
- Built-in shelves in kitchens and bathrooms: Maximizes storage without taking up extra space.
- Pantry organizers and pull-out shelves: Make kitchen storage more practical.
- Over-the-toilet shelving and recessed wall storage: Great space-saving solutions for small bathrooms.
7. Installing Dual-Flush Toilets or Water-Saving Fixtures to Appeal to Eco-Conscious Tenants
Sustainability is becoming more important to renters, and water-saving features can help attract environmentally conscious tenants while lowering utility costs. These eco-friendly features help the environment and make the property more appealing to prospective tenants looking for cost savings:
- Dual-flush toilets: Gives tenants the option to use less water, reducing water bills.
- Low-flow showerheads and faucets: Saves water without sacrificing pressure.
- Aerators for faucets: A simple, inexpensive upgrade that cuts down on water waste.
Save Money and Increase ROI with Strategic Renovations
Not all upgrades will pay off in the long run. The best renovations improve the tenant experience while increasing the rental property ROI. Boise’s rental market is competitive, so knowing what renters want can help your property stand out. Landlords can get the best return on their investment by focusing on strategic, cost-effective improvements, budgeting wisely, and maintaining the property.
Thinking about upgrading your rental? Contact 1st Rate Property Management for expert advice on renovations and property management in Boise. We’ll help you make the right improvements to maximize your property’s value and expand your rental property portfolio.
Related Articles
Tips in Optimizing Your Rental Property Value in Meridian, Idaho
4 Things That Must Be on Your Rental Property Maintenance Checklist
Simple Solutions to Stop Unauthorized Parking in Your Boise Rental Property