What Are the Best Rental Property Upgrades in Frisco Worth Pursuing?

Knowing the best kinds of upgrades to your rental property can help you improve your profits. It's critical to understand what's appropriate for your Frisco rental properties as opposed to other areas around Dallas—and what types of upgrades can add value to your investments rather than detract.

• Whether you're an investor that lives in the Metroplex or not, the right upgrades can make your property more appealing to renters.
• The wrong upgrades can be expensive without generating the additional income (or interest) in your property to justify the cost of the update.

What do investors in Frisco real estate need to know about property upgrades? Keep reading to learn about what renters want—and how to add value to your investment properties from an expert property manager in Frisco.

1. It's All About Appliances

Changing out-dated appliances to technologically advanced items is one of the best ways to upgrade your Frisco rental properties—without breaking the bank. 

• Renters don't want to deal with old, unreliable ovens, dishwashers, or refrigerators in a rental home.
• Current tenants appreciate an upgrade when it's time to renew a lease.
• When listing your property to look for new tenants, including details about new appliances, helps attract quality tenants.
• If you can't afford to invest in sleek stainless steel appliances across every unit, you can even give your appliances a DIY facelift for a fraction of the cost using liquid stainless steel and some elbow grease.

While regular maintenance can help extend the life of your rental property appliances, it's worth considering an upgrade after a few years of use. You don't need to replace old appliances with top-of-the-line expensive models. Choose quality, durable, and affordable appliances for your upgrade—or get creative in the kitchen!

2. Get Smart

Today's renters appreciate technology in the home—and it's more affordable than ever. For a small expense, you can upgrade the technology in your home and help tenants feel safer with smart, thoughtful conveniences.

• Webcam doorbells add a sense of security to your rental property. In these days of porch pirates and door-to-door mischief, tenants appreciate keeping an eye on packages—and visitors—through an online video doorbell. 
• USB wall outlets make it easier for tenants to charge devices anywhere in the house. Changing a few wall outlet plates throughout your property is an easy and inexpensive way to add appeal. Great candidate locations for these outlet upgrades are public areas like the kitchen and living room. The best part? They don't cost much and are easy to install.
• Security lights help deter criminal activity and increase a sense of safety for tenants in your property. Install motion-activated security lights as a feature tenants will appreciate.

These small things can make a big difference when listing your Frisco rental properties or helping tenants decide to renew their lease!

3. Fun-ctional Front Doors

The front door for your investment properties is one of the first things new tenants notice. From photos to showing the property in person, your front door says a lot about what's behind it!

• A new front door can increase your property's curb appeal.
• A fresh door can also improve the security of your property.
• Choose a solid door that can withstand the impact of an attempted forced entry.
• Make sure the style and color of the door fit with the look-and-feel of the property.
• Avoid anything too trendy and withstand changing style preferences for a timeless look.

You can make an appealing statement using a classic front door design—without spending a lot on materials or installation. Frisco tenants are all about luxury, so whichever design you choose, make it classy.

4. Refresh with Paint

A fresh coat of paint is another excellent (and inexpensive) way to add value to your investment property. Your Make Ready Process should include repainting the exterior of your properties as needed after the prior tenants move out. 

However, sometimes the entire house could use a paint-color update—inside and out. When aged paint begins to peel, the quirky charms of an older home are no longer quite so charming. You'll also have a tougher time attracting new tenants.

When painting your investment property:

• Choose neutral colors: Help your tenants' style fit nicely into your rentals. Avoid colors that are too bright or too dark. 
• Don't skimp on good painting practices: Using cheap paint and poor painting techniques will show after the paint dries. Give your property and your tenants a professional-quality paint job! Your tenants and your property will benefit from the time and effort of this upgrade. 

A new coat of paint that compliments a new door is almost like having a brand new investment property—and the effects are certainly impressive! Take it from an expert property manager in Frisco: you can work wonders with paint.

5. Avoid Personal Preferences

When choosing upgrades for your investment properties, remember to take your personal preferences out of the decision. Making high-end enhancements to your own home is different than selecting upgrades to enhance the profitability of a property designed for tenants. Investors with multiple properties have learned well how to separate their tastes from their rental properties.

You might never recover the costs of over-spending on top-of-the-line enhancements for your rental property. However, "cheap" upgrades will deter quality tenants—and require more frequent replacement.

A Property Manager in Frisco Can Guide Your Upgrades

When you own multiple holdings across Frisco and the Dallas area, it can be a challenge to know the best upgrades to maximize the profits on a rental property in just one city.

Let the experts at RentHub help you run the numbers! Our experience with property management in Frisco can help determine if you're investing in a worthwhile upgrade—or if a specific property (and tenants) can benefit from a different choice. Once you've chosen the right updates to give your rental properties a serious boost and found the right tenant, it's time to get your property ready for move-in day!

RentHub Property Management has put together the perfect Make Ready Checklist for intrepid DIY investors to help you prep your properties perfectly—every time. Download your copy today, and put our resources to work for you!

Download The Checklist