5 Improvements That Can Make Your Property Better

1. Add a Heated Pool

Pools are highly sought-after features for many rental complexes, and adding one can attract more tenants. While an unheated open pool may be standard in your area, you can stand out from competitors by heating the pool. This makes your property more luxurious compared to other options. These and other improvements can help you increase rental rates, offsetting the cost of heating.

A heated pool can help reduce stress levels for tenants, making your interactions more peaceful. It also positively affects their health—especially for elderly people who want to ease joint pain.

Create space around the pool so tenants can spend time with family and friends. Chairs, umbrellas, and tables can create a relaxing atmosphere. If you have space and budget, consider adding a hot tub.

2. Upgrade Your Laundry Room

If you don't have an in-unit washer, you can still impress tenants by upgrading your laundry room. Create a space with snacks and TVs. Update washing and drying machines to newer models and use cold water to direct your energy savings toward other priorities. Cold water can also help preserve tenants' clothes.

You want the process to be as relaxing as possible. The laundry room can feel like an oasis from tenant concerns. Small touches such as providing detergent and carts, keeping machines in perfect condition, and offering comfortable resting spots can make laundry more pleasant.

3. Create a Walking Trail

What might seem insignificant can greatly impact your property. A walking trail allows residents to exercise, avoid traffic, and move easily between buildings.

Consider a trail that goes around the entire property. If you have extra space, create an interesting natural path. Walking and jogging are great forms of physical activity—this trail allows you to do it safely on your property. It boosts happiness hormones, helping create a happier community. Plus, unlike gyms, walking trails don't cause fear. All residents can enjoy them.

Surround your trail with plants and other natural elements to create a calm, visually interesting spot. Greenery is valuable—especially if you're in an urban setting. Think about placing benches along the trail to enjoy fresh air and nature. Being near living plants is beneficial for tenant mental health and appealing across all ages. If you allow pets, the trail is also safe and stimulating for them.

For a sustainable trail, consider using stone or wooden steps. While you can use concrete, it's less eco-friendly and heats up faster than other materials. However, you want the trail to remain even to avoid falls and trips.

4. Update Your Appliances

As a property owner, you should be ready to periodically update appliances in your homes and apartments. If you want your units to stand out, modern appliances are a great way to achieve this.

Modern stainless steel appliances can transform the look and functionality of your kitchen. To save energy and money, look for ENERGY STAR certified devices that meet strict EPA criteria.

Smart home technology is now the time, and installing smart appliances can make life easier and more enjoyable for tenants. Touchscreens, automatic safety features, and Wi-Fi connectivity can help make your property secure against forgetfulness or misuse.

Size and shape of appliances also matter. You want them to be as large as possible to meet tenant needs, but still fit the space properly. The good news is you can replace them one at a time. Even adding one great appliance per year can increase your property's value.

5. Increase Natural Light

Adding more natural light to your property is a great way to attract potential tenants. You can do this by installing more windows in private and common areas, painting the property with light colors, and adding mirrors.

Colors and mirrors reflect light throughout the space, while windows can make your buildings feel larger and cozier. Natural light helps people feel happy and calm, which can positively affect your income. If you don't want to add windows in every unit, consider installing doors with them and terraces that let tenants enjoy private outdoor space.

Make Your Property Better Than Competitors

You can attract potential tenants by making small and large improvements. Their recommendations and online reviews can increase property value and ensure your income. Consider these five ideas in your renovation budget.