How Upgrading a Kitchen Can Increase Your Profits from Rentals

Outdated kitchens in your multi-family apartment building may very well appeal to the type of tenants that you want least. This is because when they see outdated they then think cheap and will want to pay less. And since the type of tenants that you want to live there will also think low quality and not rent there; what do you have left? Empty apartments or tenants who pay less. This is because one of the biggest decision makers on a rental deal is how the kitchen will fit in with potential renters’ needs. Too, if the kitchen is up-to-date and attractive, it can raise the rents as much as a $100 per month. So what are renters looking for in a kitchen? Well, below are some answers so that you can style your rental unit kitchens.

  • The cabinets: These are usually what tenants will look at first to see if they fit their needs for space. They also want to see cabinets that are functional and up-to-date? So you need to decide if the cabinets need sprucing up. Often here changing the hardware is all that is needed to give them a functional, modern look. A professional too can repair cabinets and make them look like new additionally.
  • The appliances: If you have old chipped stoves and rattling refrigerators, it may be time to replace them. So here, something a little more energy efficient and nice looking is a better bargain in the long run than hanging onto the old appliances just because they still work.
  • Countertops: Are the countertops dingy? Are they chipped and scratched? Do they have a modern feel? If so, you may want to hire a contractor to come in and do a little fixing up. Now here, you want to choose material that can withstand wear and tear. Also choose a darker color countertop which will look cleaner and blend in any stains that will come about.
  • Paint: When tenants move out, it’s time to repaint. This is because food byproducts in steam and splattered cooking oils can build up on the walls and kitchen cabinets. This can create a dingy appearance as well as leave an “old grease” look. So a new coat of paint in the kitchen especially can change all that and make the apartment look fresh and appealing. You might want to touch up with stain if needed too.

In the end updating the kitchens in your apartment building can give you a higher amount of income.