The Best Upgrades for a Rental Property (On a Budget)
Our expert Kansas City apartment marketers at LeasingKC have found rental upgrades can make or break a property. However, figuring out amenities your renters care about is key to upgrading on a budget. The last thing you want to do is splurge on a massive pool when no one at your property likes to swim.
One thing to remember: Instead of focusing on “perks,” focus on upgrades that will make your renters’ lives more convenient. Since every property is different, we can’t give specific details unless you reach out to us, but we can provide some general tips!
Amp up your package security
If you have a common room where packages are dropped off, that could be a major concern for future renters. No one likes the idea that someone else could steal their packages (think about how you would feel). Instead of a general package room, try out package lockers with text alerts and their own codes. While these kinds of lockers require less labor and are more secure, they are also more expensive. So just make sure it’s in budget before you get started.
Consider Uber and Lyft services
Think about adding designated parking for Ubers, Lyfts, and other transportation services in front of your clubhouse. Many times, renters feel more comfortable having someone pick them up at common areas rather than their specific apartment. Again, this is all about convenience and lifestyle. You’d be surprised how this simple upgrade could really improve your renter satisfaction.
Make sure you have online automations
There are some basics in today’s world that renters expect. These basics include online rent payments, online maintenance requests, and other automations. People are busy, and they want to do things on their own time, rather than having to always go to the office (that’s what we’d call a hassle). Honestly, you should already be doing this, so if you’re not, go ahead and get the ball rolling.
Final Takeaway: Don’t Ignore Your Budget
Upgrading your property may sound appealing, but you also want to consider your budget. All properties have different budgets, so not everyone is going to be able to add the same things. As a manager, you should prioritize what is most important for your buildings.
Of course you can reach out to current renters, but you can also talk with staff. The people who give daily tours have direct insight into what potential buyers are looking for, what turns them away from the property, and the types of questions they ask. With this information, you can plan your upgrades from most important to least important to maximize your budget.
Learn more about the best upgrades for a rental property with LeasingKC
If you’re in the Kansas City area, let LeasingKC be your bridge between you and your future residents. LeasingKC is a rental listing site run by local experts to help people find Kansas City apartments, rental homes, condos, and lofts.
Along with helping property management companies in Kansas City create strong branding guides, we also provide a variety of cost-effective marketing plans that allow property managers and landlords to maximize their investments.
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