How to refurbish a rental property on a budget

Having an investment property in tip-top condition will not only help maximise rental yield but it will make it significantly more attractive to prospective tenants, and therefore less likely to be untenanted for long.

The good news is that getting a property in a desirable condition for the rental market need not cost the earth. With some savvy know-how, investment properties can be primed for rent without too much expense.

Check out our following tips on how to refurbish a rental property on a budget.

Upcycle furniture

If you’re letting the property out fully or partially refurbished, a good way to breathe new life into it without departing with much cash is to upcycle the furniture.

You may be surprised of the impact refreshing an old piece of furniture like a wardrobe or chest of drawers with a lick of paint can make.

Replace outdated flooring with laminate

Updating the flooring in a rental property can make a huge difference to the overall style, look and functionality of the home.

Laminate is a cost-effective choice of flooring and one that is guaranteed to add immediate style to the property. Furthermore, it’s robust and easy to clean, making it the ideal type of flooring for a rental home.

Be generous with tiles

For walls that are looking a tad shabby with flaky paint or worn-out wallpaper, cover the walls with tiles. When it comes to wall tiles the choice is almost endless. Why not go to town with some bright and bold tiles to add some wow factor to the property?

Tiles are a good choice of wall covering in a rental property as they are easy to clean, durable and don’t run the risk of becoming grubby looking.

Bring on the kerb appeal

Add some kerb appeal to your investment property to make it instantly more inviting to prospective tenants. Creating kerb appeal doesn’t need to be expensive and can be achieved by hanging some colourful hanging baskets around the front door and some topiary at the entrance.

Get it right with the help of an interior designer

It might sound expensive but paying for the advice and services of an experienced interior designer on how to optimise a property for the rental market can be a cost-effective way to maximise your monthly rental yield.

Jonathan Caplan

About the author

Jonathan Caplan

I co-founded New ID Living with my brother, Daniel and over the years we have developed and expanded the business together including the purchase of a flooring company...
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