Property SOS

From Dated to Desirable

By Erica Rascón on Apr 29, 2015 in News

As much as we applaud new multifamily construction here on The Balance Sheet, we realize that it’s not good news for everyone. Owners of dated properties know that the new, shiny rentals up the street with the unbelievable move-in deals may create stiff competition. Fortunately, a few strategic updates can help your aging property feel fresh and appealing. Add your excellent rents and stellar onsite staff and those new properties won’t know what hit them. Take that, shiny new properties!

Floors

 

Skip costly hardwoods and carpets that need to be replaced with every new lease. Instead, opt for porcelain tiles. There are plenty on the market now that give the look and feel of hardwoods with even fewer care requirements. Just be sure to shop around; there are affordable options that look just as great as high end products that would break the bank.

Kitchen & Bath

Give aging cabinets a new breath of life with a fresh coat of paint and trendy new hardware. White and gray paints leave kitchens and baths feeling crisp, clean, and modern. As for hardware, keep the designs sleek and simple—and avoid anything shiny.

Thanks to a growing appreciation for all things old school (an heirloom left to us by the hipsters) even old tile can look intentionally chic. The secret is in the grout. Tiles look dated when the grout is stained and disintegrating. Re-grout tiled areas and take the opportunity to replace any cracked or chipped tiles. New grout costs a lot less than completely renovating a bath or backsplash.

While minimalist design looks great in magazines, most renters will admit that they have stuff and that stuff needs a home—like drawers and cabinets. Give bathrooms an ultra modern feel with cityscape cabinetry. These cabinets are staggered, like a city skyline. What’s great is that, in some cases, you can separate and remount your existing cabinet units. Add fresh paint and your units look decades newer!

The Details

Textile trends change at least every season, which can be an unnecessary expense on limited budgets. Selecting monochromatic interior designs (especially with your blankets, pillows, throws, curtains and such) in a color like ivory is a timeless option for your model apartment. Not only will this keep you from refurnishing with new linens every season, a monochromatic scheme will help renters envision themselves and their personal style in the apartment instead of being bombarded with someone else’s design choices.