As home values continue to climb in the US, more and more people are choosing to invest their money in rental properties instead of more traditional models. However, just as with investing, you need to know a bit about what you’re doing if you want to get the most profit out of your rental investment. There are many different things you can do to maximize your property’s earning potential, but in this guide, we’ll teach you the best ways to decorate the interior of your rental home.
Attract Renters
The very most important thing you’ll want to keep in mind when decorating and designing your property is that you’ll want to make it attractive to any renters who tour the property. This applies to décor you add to the property, how it’s laid out, and how it’s maintained, among other things. If you have the opportunity to renovate the property substantially, think about fixing unpopular features like closed floorplans, dark rooms, and low ceilings. If you don’t have the time or means for that, however, cosmetic renovations like paint, flooring, and smaller details like baseboards or kitchen cabinets can make a big impact, too.
Stand Up to Abuse
The second most important to keep in mind while choosing furnishings for your rental property is to make sure everything’s durable. Depending on who you’ll be marketing your property to, the house could see more damage than you might be able to dish out yourself. If you plan to allow pets on the property, for example, they’re very capable of damaging floors and other surfaces in the home. Tailor the durability (and expensiveness) of the finishes on the property to your target audience. If the property will likely only see elderly vacation renters, for example, higher-end, senior-friendly fixtures will likely be appreciated, while the same features might break under the hands of rowdy children.
Stay Neutral
While choosing furnishings for your property, always remember to keep things neutral. Neutral colors that go well with a variety of styles are the best choice for rental properties, especially if your renters will furnish it themselves. Stay away from bright primary colors for rooms and busy designs on floors. Calm colors like grey, tan, and olive are excellent, reliable choices for wall colors. In certain markets, like for vacation rentals, different colors may sometimes be appropriate – a bright blue theme for a beach house, for example – but if you’re not sure, it’s best to stay neutral.
Knowing how to decorate your rental properties in a way that increases the value of the rental is key to getting the biggest return on investment from your potential renters.
