Rent Out Your Own Condo? 5 Profitable Additions Worth Making
Posted on: 16 December 2015
Owning a condo can be limiting when you want to remodel the unit, but you can still make a number of impressive changes that will add to the value of the condo and make it easier to rent out. While exterior changes such as a new roof or siding are not possible, you have free rein to change up the inside.
Dining Room Chandelier
When replacing a light fixture in the home, it is a good idea to focus on adding something that is eye-catching and helps to add value to the condo. Instead of your standard bulb light, consider getting a chandelier installed in the dining room to hang above the table.
Luxury Showerhead
The shower is a space that your tenants will use on a daily basis, so it is beneficial to improve it as much as you can. Even if you are not able to expand the size of the shower, you can still make a great improvement by replacing the showerhead to something more luxurious. A showerhead with features such as a rainfall nozzle, a handheld attachment, or massage options can help make the bathroom feel more like a resort.
Dishwasher
Many people living in a condos do not have large families and lead busy lifestyles, so it is a good idea to add features that make life easier. A great way to do this is by installing a dishwasher. Not only will it make the kitchen more appealing, but it can even cut down water usage, helping to make the condo eco-friendly.
Dual-Flush Toilet
Another eco-friendly feature to include in the condo remodel is a dual-flush toilet. Many renters are looking for features that make the home feel modern and new, making the bathroom a good place to start. A dual-flush system will naturally reduce the toilet's water usage, so you can expect your water bills to drop even more.
Touch-Free Faucet
The faucets in the bathrooms or kitchen are available as touch-free nowadays, helping to add a modern flair to any sink. In fact, some home designers are expecting these faucets to become the norm in both public bathrooms and homes. Not only are they very hygienic in the bathrooms, they also make cooking a lot easier in the kitchen since you do not need to handle the faucet with dirty hands.
Since many changes, such as replacing a light fixture or replacing an appliance, cannot be completed by the tenant, it makes sense to make these changes as the condo owner. By implementing some of the above changes during a remodel, you can expect the unit to rent out faster and at a higher rental rate. For more tips, you might consider contacting a property management company like CJ Real Estate, Inc.
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