Rental upgrades you should avoid

Carefully plan rental renovations to avoid getting into losses. Photo by Racheal Mabala

Property managers and agents usually make upgrades whenever they are looking for new clients to occupy their house and this involves money and time, because the more the property looks posh the easier it is to get clients.
Ismail Mulindwa, a director from I.Mulin Properties Limited, says as property managers who are trying to attract new clients, they should avoid unnecessary upgrades.

“Keep your upgrade costs low while greatly improving your rentals and always have a long-term rental strategy,” Mulindwa says.

Landscaping
Mulindwa says investing a lot of money in landscaping is perfect for your home. However, you risk turning away potential tenants. Some tenants may not like an overdone landscaping job, and thus will not rent your house.
“Some tenants may not agree to maintain such an extravagant landscape, forcing you to maintain the landscaping yourself by spending additional money on a maintenance service and cleaning,” Mulindwa says.

He adds that when it comes to landscaping both your front and back yards, it is best to keep things simple and neat and that is how your home will remain attractive to the potential tenants.

Private renovations
Mulindwa says having enough private space is something every potential tenant is searching for in a rental home. But upgrading that space will not come cheap. Because most people have no idea just how expensive private renovations are.
“Most people are looking for big closets with lots of space, and other facilities like laundry but chances are high that your monthly rent collection will not recover the cost of investing in a fancy closet for some time,” Mulindwa says.

Windows and Doors
Mulindwa says windows and doors are seen from both the interior and exterior of the home. That makes them an important part of the overall appeal of your rental home. However, that does not mean you want to foot the bill for completely upgrading them.

“Changing out every window can quickly become a costly effort. Though your old windows may be leaky, drafty, or even just unsightly, it is important to carefully consider the cost of replacing them,” Mulindwa says.

He adds that you can get a professional to evaluate the condition of your windows before deciding to what extent you will renovate them. You might be able to get away with simply replacing the bands for visual appeal.

“It is best to opt for a front door that matches your rental property’s construction and will add character to your home other than going for the fanciest thing on the market right now, this will cost you more,” Mulindwa says.

Flooring
Muhammed Kizito, a property manager says, installing a new floor can definitely make for a nice first impression. However, this type of flooring may be extremely expensive and typically requires professional installation, thus costing you more money.

“You can opt to change from tiles to hardwood depending on the clients you’re expecting but it’s a bit risky because tenants prefer the softness carpet brings, especially in the bedrooms. Especially when they have children,” Kizito says.

He adds that this means you will be replacing large sections of flooring each time new tenants take up residence in your home will be necessary. This also means more money out of your pocket will go onto into your flooring budget on a regular basis.

“If you own or manage a certain property which needs extra care before putting up for lease, make sure you carefully budget for and plan your renovations,” Kizito says.

He adds that you may focus on such things like as property location, competition, and area rental rates, you may not want to invest a lot of extra cash into an already decent property.

Sarah Namuli, a land lord says it is very risky to use a lot of money when you are upgrading your rentals.
“Sometimes we put in a lot of money in upgrades but the tenants end up damaging them in a short period of time even before we get profits from the investment,” Namuli says.

She adds that some tenants take things for granted because they give you money not thinking that you invested in a lot while renovating and constructing the property.