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...