Owning a rental property may be one of the best ways to make passive income in 2022. Not only do you get to own your property and watch as it potentially grows in value, but you might also be able to cover the costs via the rental payments from your tenants.
If you want a rental to bring in the most money possible, it’s vital that you create a space that can last and is structurally sound. So, if you’ve been thinking, “I want to redo my rental,” check out this long-lasting list.
1. Durable Synthetic Stucco
Stucco is one of the oldest siding materials on Earth. With signs that it’s been in use for over nine thousand years, stucco has shown that it’s resilient in both aesthetics and in materials.
Unfortunately, as beautiful as this material is, it’s also not safe to use in areas where there’s a lot of moisture or the temperatures fluctuate wildly. If you still want that timeless and beautiful look, it might be time to consider synthetic stucco! This type of stucco is extremely durable and 80% lighter, which means it could reduce wear and tear to your property while lasting longer and looking just as amazing.
2. Adding Smart or Digital Details
Many rental properties are focused on the physical aspect, but the digital one matters too. When remodeling your rental property, take the time to create a home that feels like it belongs in 2022. You can do this by adding smart features throughout the space.
A smart thermostat will empower your tenants to have better control over their heating and ac, helping their bills stay lower and relieving worry about accidentally leaving the system running while they’re away. This may allow your HVAC system to run less and stay in good condition.
Another piece of technology to consider including is a keypad or smart lock for the front door. This saves you from having to deal with tenants losing their keys and ensures you can change your passcode at any time between tenants instead of having to go out and physically change the lock and key.
3. Moisture Resistant Paint
Paint is something that can dramatically shift how people view a home. Unfortunately, it’s not very strong against weather and can have issues keeping up with the moisture, heat, and aging.
You might want to seek out moisture-resistant exterior paint that will be better able to handle anything the weather can throw at it. This will allow your property to look good for longer and will give tenants a gorgeous home to come home to every day.
4. Easier to Manage Lawns
Although curb appeal is a big deal, tenants don’t want to move into a home they’ll have to spend several hours maintaining every single week. Instead, create a lawn that’s attractive to look at and easy to maintain. If you want to add flowering plants, you can, but make sure they’re shrubs that need minimal work and are native to the area.
This is a good idea regardless of whether it’s you or your tenant maintaining the property. It’s important to create a house that feels like home, has fantastic curb appeal, and calls out to tenants: without adding a lot of work and stress through yard work and exterior maintenance.
If you live in an area that has trees that drop leaves throughout the year, look into their species and consider removing any that are too close to the home or drop leaves for too long. In the southwest, river oaks can drop leaves from September to march: making six straight months of raking and maintenance.
5. Sealants to Make it Airtight
One of the largest reasons a property might see higher air conditioning and heating bills is if it’s not properly sealed. Applying a sealant will help close off the weather and issues from the exterior of the home and will give you the opportunity to offer tenants a home that has lower energy bills and keeps at a more comfortable temperature. This is better for everyone involved and could make it to the top of your “redo my reno” list.
6. Flooring That Can Handle Anything
The floors in your rental property have to be able to handle a lot. From the traffic of tenants moving in and out to the tenants’ daily lives and the likelihood that you may have to deal with this cycle happening again every year. It’s important that you have floors that can handle it all. You may want to look into getting high-quality laminate flooring that can stand up better against anything renters may throw at it.
7. Insulated Roof Panels
Another tip to keep your HVAC system strong and running perfectly is to put in insulated roof panels. These help keep the warmth inside of your home in the winter and keep your house cooler in the summer. Although this can be an expensive installation, it could be better than having to struggle with repairing or replacing your HVAC system constantly because of the issues it’s dealing with.
Think, “redo my rental” without making it a full-time job.
Although your rental property can be a great source of income: it shouldn’t be a massive source of stress. Create a property that speaks to renters and give yourself the chance to deal with far less maintenance.
Andrea Erickson is a contributor to Innovative Building Materials. She is a blogger and content writer for the real estate industry. Andrea is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.
Published on June 20, 2022
