Is your property a residential one? If so, then it may be time for you to consider updating the kitchens and bathrooms. There are a number of trends that you can take advantage of right now to present your units as modern, functional, and stylish without breaking the bank.
Take Note of Trends for Updating the Kitchens and Bathrooms
“Home designers and builders say contemporary-style kitchens and baths are getting more and more traction in American homes.” Along with that comes the increased used of technology in apartments and homes, such as smart appliances. Advertisements on TV boast water-saving faucets and refrigerators with touch screens on the front. The word is ‘modern’ right now, and if you want to draw the attention of more prospective renters than ever, you may want to do a little remodeling.
When it comes to their kitchens and bathrooms, the research into trends shows that “clean” and “bright” are some of the buzzwords in what people are looking for. People also like ease of use, though, and are trying to get technology and electronics incorporated in more parts of their lives than ever. Many electricians “say they have included wiring and pathways for future tech integration in the kitchen,” paving the way for future appliances and their advanced functionality in these rooms.
Updating the kitchens and bathrooms in your rental is primarily about a style upgrade, but there are also elements of added safety. For example, many people request concealed outlets and don’t like to have them, for example, above counter tops. For many, it’s not only unsightly, but can also be a hazard if small children are present. You may not be able to move outlets around, but this should at least get you thinking about the kinds of safety needs of those who may move in to your rental units.
A design feature that hasn’t been popular lately, but which is making a comeback, is metal cabinets. This finish hasn’t been in vogue recently, but now it’s coming back into fashion. In many cases, these metal cabinets are mixed with other, wooden accents, giving a kind of mixed-materials look that many (younger, and typically male) people seem to favor. Not only this, but colors and materials are being combined into different, unique looks, too.
In the bathrooms, particularly, renters are looking for lighter and neutral colors. Since bathrooms are often seen as a place of sanctuary, they should give that impression from the get-go. Some words that describe the trends have been “sleek,” “light,” and “airy.”Also in high demand are “freestanding or soaking tubs,” though there may not be room for this kind of luxury in each apartment building. Consider the pros and cons before making any changes, do your research, and then see what can be done for your residents.
If your units don’t already reflect some of these qualities, then it may be time to consider updating the kitchens and bathrooms. These are two high-traffic areas that will get a lot of attention from those looking to move into a new apartment. Also, current renters are likely to respond well to these kinds of updates since their apartment will now reflect more modern trends and will be more appealing to others whenever, if ever, they decide to leave.
Upgrades might not be at the top of your list, particularly if you have a lot of other work to do and the idea sounds intimidating. However, doing some renovations doesn’t have to be a scary process, especially not if you have a property management software to help you get a handle on other tasks. Budgetrac, for example, can handle almost any type of lease arrangement can be accommodated, including leases with multiple spaces and multiple leases per tenant. With Budgetrac, you can count on this powerful system to take care of of the day-to-day tasks associated with property management while you turn your attention for a while to unit upgrades.
Budgetrac Property Management software manages all of your operations so that you can get to work on other, less-regular projects. If you’re interested in updating the kitchens and bathrooms to entice potential renters, then give Budgetrac a try!