Owning an Income Property: How Landlords Can Benefit from Renter-Friendly Upgrades

More and more these days, renting instead of buying a home has become a long-term solution for many younger adults. This shift has led to a rise in renters seeking ways to personalize their spaces, even though they don’t own them. For income property owners, this trend presents a unique opportunity: by encouraging renters to make small, nonpermanent upgrades, landlords can increase the appeal of their rentals, boost their property value, and potentially raise rental rates.

Recent data from Zillow and Thumbtack shows that certain renter-friendly upgrades not only improve a tenant’s living space but also make the property more attractive to future renters. Here are some key ways landlords can embrace these upgrades to enhance their investment properties and keep tenants happy.

Cabinet Hardware Updates

Swapping out old cabinet hardware for modern, sleek designs is one of the simplest and most affordable upgrades. This quick fix can make kitchens and bathrooms feel more contemporary, increasing the visual appeal of your rental. Matte black finishes are particularly popular, helping rental listings on Zillow get 25% more saves and 49% more shares. These upgrades typically cost between $50 and a few hundred dollars, depending on the quality of materials and how many pieces are replaced. For landlords, allowing renters to make these changes (with approval) adds value to the property, especially when it’s time to list the unit again.

Open Shelving

Open shelving is a trendy feature that appeals to today’s renters by offering style and function without taking up floor space. Listings with open shelving receive 36% more saves on Zillow Rentals. The cost for professional installation averages around $275, making it a cost-effective upgrade that not only enhances the space but also gives tenants a chance to showcase their style with personal items, artwork, or plants. As a landlord, this feature can make your property stand out and justify a higher rental price, particularly if you’re targeting renters who value aesthetics.

Green Spaces and Plants

Encouraging renters to add plants and greenery is another great way to enhance the attractiveness of your rental. Plants are known to improve air quality and can make a rental feel more homey. For properties with outdoor spaces, a patio garden can increase daily views on Zillow by over 24%. Even small additions like window boxes, which cost around $100-$150 for professional installation, can make a big impact.By allowing tenants to create small garden spaces, landlords add a feature that makes the property more desirable while maintaining flexibility for future tenants.

Accent Walls and Paint

Paint is one of the most impactful changes a renter can make, and landlords commonly allow it with the condition that the walls are repainted upon move-out. Zillow data shows that fresh paint can boost a rental’s saves by 14% and shares by 17%. Darker colors, popular among Gen Z renters, are replacing traditional white, creating more stylish and personalized living spaces. For landlords, embracing these bolder color choices—especially on an accent wall—can modernize the unit and increase its appeal, without requiring a significant investment.

Modern Lighting

Updating lighting fixtures is an easy way to instantly change the ambiance of a rental unit. Smart, energy-efficient LED lights not only save on energy costs but also boost the attractiveness of a listing. App-controlled smart lighting, which can change color and brightness, leads to 22% more saves and 35% more shares on Zillow Rentals. For landlords, investing in these upgrades, which average around $150 per fixture for installation, can make a rental more tech-savvy and future-proof.

Mirrors for Style and Space

Mirrors can make any room feel larger and brighter, and they are an easy DIY project for tenants. Wavy, circular, and arched mirrors are particularly trendy, with listings featuring a mirrored wall seeing a 10% increase in saves and shares. These additions are not only stylish but also functional, adding value to the property without a large financial commitment.

Peel-and-Stick Wallpaper

Temporary wallpaper is growing in popularity as it allows renters to express their style without making permanent changes. Zillow reports a 10.1% increase in wallpaper installations year-over-year, with many renters opting for peel-and-stick options that can easily be removed. This trend extends beyond walls—temporary backsplashes and adhesive floor tiles are also gaining traction.Though peel-and-stick materials can be more expensive than paint, landlords can benefit from the trendy, personalized look these upgrades provide. It allows tenants to take ownership of the space in a way that doesn’t damage the property, ensuring it remains appealing for future renters.