Kitchen upgrades lead to plenty of valuable benefits for you as a landlord—increased property value, less maintenance, and attracting a better pool of applicants, to name a few. Statistics show that there is always value in a kitchen renovation.
3 Important Considerations Before Upgrading the Kitchen in Your Rental Property
Your inclination might be to renovate your rental property kitchen with the lowest possible budget. But it’s important to consider the kind of renters you want to attract and the value of durability. You don’t want to be renovating after every tenant; you want something that can withstand the test of time.
Don’t worry! This doesn’t mean you need to put in a high-end custom kitchen. There is a happy medium that maximizes your investment.
Here are three other things to think about when upgrading your rental property kitchen.
1. Simplicity is key
Your tenants want to customize the home as much as possible. They also have a monthly budget. Most renters don’t want to pay for all the bells and whistles, so keep your upgrades simple by focusing on durability and modern style instead of special features or unique design.
2. Compare with neighbouring properties
You want to keep your rental rate competitive with surrounding properties, so decide on your kitchen renovation budget accordingly. The scale of your upgrades shouldn’t be so high that you have to charge a rental rate that’s much higher than your competitors.
3. Stick to neutral style
This kitchen renovation isn’t your opportunity to create a space that’s worthy of the trendiest interior design magazine. You want to give your tenants a blank slate they can personalize to make it feel like home. Neutral style features don’t have to be boring. Just focus on functionality and natural character instead of bold design.
5 Best Kitchen Upgrades for Rental Properties
To get the best ROI, renovate your rental property kitchen strategically. These are the best upgrades to balance durability, attractiveness, and financial practicality.
1. White Cabinet Finishes
Lighter colours make a room look more spacious, brighter, and cleaner. White has universal appeal, and it’s timeless. It’s the perfect canvas for your renters to add personal touches to, and will make your rental property kitchen more inviting.
Painted finishes are susceptible to scratching and chipping, so choosing a higher quality cabinet is better for a rental property, such as a pressure-treated laminate or melamine finish. If you’re very concerned about damage to your cabinets, consider a more durable finish for base cabinets and stick with painted white for the uppers.
2. Wood Island & Cabinet Bases
Natural wood tones are also neutral, timeless, and provide warmth and natural beauty to the kitchen. Wood is also the most durable material you can get for kitchen cabinets. And if they do get minor damage, it’s easy to touch them up. This makes them an excellent choice for base cabinets, which take more of a beating than uppers.
White and wood go well together, so a beautiful kitchen design can include both. When you upgrade to a two-tone kitchen—white upper cabinets and stained wood bases and island—you get the best of both worlds—the durability of wood with the neutral look of white styling.
For a rental property, durable woods like birch or maple are an affordable option, rather than high-end woods like walnut or cherry.
3. Quartz Countertops
Quartz countertops are the best of all worlds. This engineered stone material is extremely durable, low maintenance, and comes in a vast selection of colours and patterns. It’s nonporous, making it water-resistant, and doesn’t require resealing like granite or marble.
Laminate countertops are more affordable than quartz, however, they are susceptible to water damage and typically don’t last longer than 5-7 years before needing replacement. Quartz, on the other hand, is a set-it-and-forget-it countertop option.
4. New Appliances
Appliances get a lot of use, and in a rental property, old or cheap appliances require frequent repair. For a rental property, new appliances can save you money in the long run by reducing maintenance costs, and they can save your tenants money on energy bills because new appliances are more energy efficient.
5. Modern Flooring
The kitchen flooring isn’t a huge selling feature for a rental property, however, durable and neutral flooring is an absolute must. You need flooring that’s water-safe so it won’t warp from spills or frequent mopping. Dishwasher failures or leaky sinks are nightmares for hardwood or laminate flooring.
Learn more about How to Choose the Best Flooring for Your Kitchen Renovation.
Upgrade Your Kitchen for Better Rental ROI
Is it time to upgrade your rental property kitchen for better ROI? The team at Riverstone Kitchens & Renovations can design and create a durable kitchen that’s attractive to potential tenants and fits within your budget. Contact us today for a free consultation.