Your multi-family property is an income-generating asset. But if your units are dated, that income is capped. You are stuck with flat rents and persistent vacancies while your competitors are leasing up at higher rates. It is time to stop accepting this. You can take control of your revenue with a strategic, high-impact renovation program. These five upgrades are proven to provide the highest return, allowing you to increase rents and attract a better class of tenants instantly. Partnering with an efficient, ROI-focused contractor like SHARPLINE INC. is the first step to unlocking your property’s hidden income.

1. The Modern Kitchen. This is your number one priority. Renters will pay more for a beautiful, functional kitchen. Rip out the dated laminate countertops and replace them with quartz or granite. This one change instantly makes the unit feel high-end. Install a clean, simple subway tile backsplash. If cabinets are good, paint them white or gray and add new, modern hardware. If they are in bad shape, replace them. Finish with a stainless steel appliance package. A $7,000 kitchen upgrade can easily justify a $150/month rent increase.

2. The In-Unit Washer and Dryer. This is not an amenity; it is a requirement. Tenants absolutely detest community laundry rooms. They hate the hassle, the lack of privacy, and the inconvenience. They will choose a slightly smaller unit in a different building if it has a washer and dryer. Find the space—a closet, a pantry, or a corner of the kitchen—and install the hookups. This single feature eliminates a major leasing objection and immediately boosts your unit’s desirability.

3. Durable, Modern Flooring. Get rid of that old, stained, beige carpet. It is the first thing a prospect notices, and it holds odors and allergens. Replace all the carpet in the main living areas with a high-quality, wood-look luxury vinyl plank (LVP). This material is waterproof, scratch-resistant, and incredibly durable, which also lowers your turnover costs. It looks sleek, modern, and clean, and it’s what today’s renters demand.

4. Updated Bathrooms. A dingy, 1980s-era bathroom is a major turn-off. You must replace that builder-grade mirror with a framed, stylish one. Replace the dated light fixture with a bright, modern one. The biggest impact comes from replacing the old vanity and countertop. This single piece, along with a new faucet, can transform the entire room. If the tub or tile is an ugly color, have it professionally re-glazed to a clean, bright white.

5. The ‘First Impression’ Upgrades. You must upgrade your common areas. You cannot sell a “premium” unit if the tenant has to walk through a dark, smelly hallway and a dated lobby to get to it. You need multi family properties renovation contractors to create bright, welcoming entrances and corridors. A renovated, modern fitness center, a functional package management system, and a clean, inviting pool area are what allow your leasing agents to sell the lifestyle and justify the premium rent.

Stop leaving money on the ‘table. These five strategic renovations are not expenses; they are the tools you use to grow your income. It is time to invest in your asset and reap the rewards of higher rents and lower vacancies. To get a quote on an ROI-driven renovation, contact SHARPLINE.