In a competitive rental market, San Tan Valley property owners may often assume that building a dream kitchen can perhaps get them to attract higher-paying tenants. Despite the fact that the kitchen is a necessary portion of all and any rental home, high-end or luxury upgrades rarely result in a higher rental rate. Unless your rental home is also upgraded as a whole and in a market that could support higher rent, the appropriate action is to create a kitchen that highlights less expensive and more durable elements.
Homeowners generally dream of upgrading their kitchens with high-end cabinets, appliances, countertops, and flooring. Nonetheless what is absolutely true of expensive materials such as granite and hardwood is that they are certainly easily broken and damaged as well as demand significantly more responsibilities to upkeep and maintain. Though a homeowner may perhaps think such extra work and responsibility is worth when having a beautiful kitchen, a tenant may not exactly believe the same thing. Materials that are too expensive to repair or replace or that are readily damaged are not suitable options for a rental home, for the obvious reason that they increase your maintenance costs and to some extent by reason that tenants may not relish the idea of maintaining that level of luxury.
There are plenty of justifications why creating your dream kitchen is not the best project for your rental property. Tenants are customarily excited about rental homes intended to reduce the amount of upkeep they have to do. However, though they do still yearn for quality appliances and updated features, tenants are more inclined to reckon a high-end kitchen as more of a hassle than a bonus. Thus, even when you truly believe that a high-end kitchen will enable you to charge more in rent, your tenants may not be enthusiastic at all to pay a higher rate for that feature alone.
A few other problems may crop up if the kitchen you are planning to remodel doesn’t match the quality of the rest of the rental property. Inconsistent upgrades can be a huge problem for a rental property. A home with a gorgeous kitchen but regrettably, one that also has dingy, dated bathrooms or worn carpeting might create red flags for a prospective tenant. They may perhaps deem that the rental house is an unfinished project, not a complete rental home ready to be lived in. Upgrading one room in the house also does little to increase your property values, definitely if the home is not in an upscale area.
Rather than spending big on a high-end kitchen, take into account carrying out different simple updates. An inexpensive and durable countertop and floor, a matching set of new appliances, and some new fixtures could definitely transform and make an older kitchen feel fresh and modern. Worn cabinets could be repainted or resurfaced to create an altogether different look and style for a fraction of the cost and may quickly bring a dated kitchen into the present. Even just adding these small items like a new light fixture and drawer pulls can create a fresh beauty and aura to a room. On top of that, you won’t exhaust your time being anxious with regards to whether your tenant will cause expensive damages to your expensive tile, stainless steel appliances, or granite countertops.
The major point is that unless you have the budget to complete high-end upgrades of consistent quality and style all over the entire investment property, the better option is to apply quality mid-range improvements. Notwithstanding, it might indeed be complicated to realize which upgrades will add value to your rental property and correspond to rent increases. Why not employ the professional San Tan Valley property managers at Real Property Management East Valley to help you with this concern? Our industry expertise and the best remodeling contractors can help you realize the efficient approaches to greatly improve your rental property to really maximize your rental rates and bring up your property values. Contact us or call us at 480-658-0869 for more helpful information.
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