If you own a rental property that you’re ready to make some more money off of, one great option is to put a bit of money into the property so that you can charge more on a monthly basis. But in order to make the smartest financial decision, you’ll want to make sure that you make the right choice with the renovations you decide to do and that you choose the right materials, especially with places like your flooring.
To assist you in doing this, here are three tips for choosing the right flooring to purchase for your investment property.
Consider What Each Room Needs
The first thing you’ll want to determine when considering redoing the flooring of your investment property is to think about what type of flooring each room needs. While it might be cheaper to use the same type of carpeting for each room, you want to make sure that you’re also considering the function of the rooms.
In many homes, carpeting can be useful in living areas and in bedrooms. But when it comes to kitchens, dining areas, and bathrooms, you’ll want to use a floor that’s more waterproof. So before you just go for the option that’s going to be the cheapest for you, make sure you’re thinking about how a home functions and what your renters would be willing to pay more for.
Go With Something That Has High Durability
For many rentals, renters can come in and out at a quick pace. And since they don’t own the property, renters can also be harder on your property than they would have been on their own.
Knowing this, it’s wise to choose flooring that’s going to be very durable. One of the best options is to put down vinyl flooring. This type of flooring can look expensive, be incredibly durable, and be a more cost effective option than other types of flooring.
Don’t Choose Something High Maintenance
The other thing that you’ll want to think about when it comes to flooring for a rental property is how much maintenance that flooring will require.
While you might be willing to put in the work to maintain a quality and fussy flooring at your home, you can’t bank on your renters being willing to do the same. And since you can’t be in their rental all the time making sure they’re maintaining the flooring as they should, it’s best to choose something that requires very little maintenance to still look good and maintain its quality.
If you’re wanting to get new flooring put into your investment property, consider using the tips mentioned above to help you make the right decision on the materials.