Rental-Grade Finishes
We all know you get what you pay for. And yet the conventional wisdom is to go low end on finishes and fixtures in a rental. I’d like to open the floor to comments from renters especially, and landlords as well on this topic. Best place to spend? Worst place to spend? I’m trying to…
We all know you get what you pay for. And yet the conventional wisdom is to go low end on finishes and fixtures in a rental.
I’d like to open the floor to comments from renters especially, and landlords as well on this topic. Best place to spend? Worst place to spend?
I’m trying to reign myself in and choose wisely as I renovate two, nearly identical, 2 bedroom units in Astoria – one for owner occupancy, one for a tenant. The unit in question is a 900 sqft 2BR, one block from the Broadway subway
What are renters really looking for when they pick an apartment? From my own experience, it was always location, size, cleanliness, and layout. One of my favorite place I ever rented had the worst vinyl flooring rolled onto the kitchen floor, but those floors were new, and level too. A tacky ceiling fan and fiberglass surround shower completed the look. But I was sold the moment I saw it on the location, size, layout and light.
Another favorite place had literally 24 inches of kitchen counter space, very compact appliances, and 60 inches of cabinets, counting top and bottom separately. But it was in a good location and everything was new.
So what do others think? Do tenants care about fixtures and finishes, provided they are new? Would a fiberglass surround be less desirable than a tiled bath? What about central air? My electrician thinks tenants prefer high-hats? Do tenants even think about lighting? How about appliance quality and size? I feel confident that a dishwasher is a worthwhile amenity, but elsewhere in the kitchen, I’m torn. More cabinet/counter space vs. bigger appliances vs. more walking around room. Also torn on the central air, lighting options, and classiness of the bathroom.
So renters, what do you like to see? Landlords, how have you handled this and what have you found actually matters?
If you are prepping a rental in a neighbor hood in which your competition will be condo’s, you have to choose better grade finishes.
I’ll choose a nicer tile for the bath, and tile up 4 feet all around. Nicer tile doesn’t really cost that much more than cheap. I use epoxy Laticrete grout in all wet locations, as it doesn’t stain and can be cleaned using strong acids on cleanups between tenants. The acid wash isn’t even necessary usually because the grout is impervious, never needs sealing. Cast iron tubs only, yes I know they are heavy and a pain, but worth it in the long run.
Kitchens are another opportunity to distinguish your apartment from others, so you get your choice of tenants.
I concentrate on brand name accessories – faucets etc. I usually purchase Franke brand, and I often install instant hot water heaters also. The trick is purchasing these items on EBay, sometimes used. A $600.00 kitchen faucet can often be picked up for $125.00, what you’d pay for a run of the mill unit at Lowes. Ditto Danse bathroom fixtures.
Don’t agonize the style, you don’t have to live with it. Just make it simple and coordinated.
Spring for nicer cabinets with the doodads and tchockses, it’s a one time expense and you get to pick tenants who will take care of them.
Normally I second the pastel white wall and trim colors, but to humor my son who has strong feelings about colors, my latest apartment has a blue bedroom and a pale green living room. I’ll get back to you on tenant responses, the unit isn’t finished yet.
Oh yeah and I try to install recycled details if there aren’t sufficient moldings etc already. These are more work, but often cost less than new from Dykes.
Good Luck
As the sort of renter most people would like — once I find what I want, I pay top dollar, make my home beautiful, pay on time, and maintain it like I’m an owner — I agree with much of the above. If you want a renter that respects the space and values it, do what you can to install what you imagine an upwardly mobile person expects to see in the space. In a prewar, a black and white tile bathroom, trim and details brought out by painting them a different shade than walls, rich-looking wood floors, etc. In new construction, a modern feel with stainless steel appliances, stylish light fixtures, crisp lines.
Lots of things are negotiable if a place can be made a home. I have a fantastic place. Would I have still rented it if it had no dishwasher? Absolutely. Things that put me off? Brass fixtures, obvious Home Depot bargain stuff, adhesive kitchen tiles, cheap faux wood cabinetry, “marble” tile or countertops, the tyranny of beige bathroom tiles, hollow wood doors, crappy door handles, etc. I have changed light fixtures and things like that, but the more I have to do, the more I have to do.
Long story short, as a tenant, you get what you pay for. And as a landlord, to my mind, you get what you pay for as well.
I’m a rental broker – carpet is an absolute never. I won’t even show them or put pics on the website. Counter space is a premium (don’t get giant appliances and leave no counters), don’t use paint that’s too glossy, and i’d say little things count – different baseboard color than walls, clean windows, ceramic floors or brand new linoleum for kitchen, handles that aren’t falling off, maybe a non-gerber kitchen faucet, etc.
Just give the impression that the place is very well kept inside and out; even cheaper reno’s go fast if the place reeks of well-maintained. Maintenance matters more than designed, and the less designing you do probably the better (no offense meant).
LindaB, how does the Mr Slim ductless wall mounted unit work? Do these have some kind of waste pipe that goes out the window or nothing at all?
I lived in both units that I eventually rented out. I have a certain level that I wanted to live at, and felt my tenants would too.
That meant, nice wood floors, good paint job, redone bathroom with tub tile to ceiling, new vanity and medicine cabinets, W/D, kitchen with decent cab and counter space, D/W.
We have good tenants now that take care of their homes and pay rent on time. A fair exchange IMO.
You should be focused on durability. What items will continue to look clean, well-maintained, and not glaringly dated the longest?
The grout in the tile in the bathroom always seems to become an issue in rentals. In my experience, if mildew has ever grown on the grout, it can become permanently discolored, and no amount of scrubbing and bleaching will bring it back to an even white color. You can use that paint stuff over it, but that isn’t very durable. If I were constructing a rental unit, I’d use old fashioned tiles with minimal grout lines and gray-colored grout for wall and floor tile because I think this would maintain a classic and clean look with the least maintenance.
Personally, I’d prefer a small bedroom and a larger living room to the other way around.
A W/D or D/W would be a swing factor for me, and I’d pay more for them. Many people don’t cook much at home or have space to entertain so don’t have that many dishes but everybody has laundry.
I’ve been in three rental units in New York and now own a condo. I would recommend a 30″ stove with an over the range microwave, dishwasher, neutral paint, hardwood floors, subway tile in the bathroom, and air conditioning. I all but the a/c in my Manhattan apartment, got the a/c but lost the dishwasher and microwave in Astoria, lost the A/c when I went back to Manhattan, and got the works and more when I bought my condo. I would also agree with getting neutral blinds on the windows, doesn’t cost much and it saves a headache for the tenant.
You really havent given alot of information re: the type of building these apartments are in or the rent you are expecting to get but speaking to a middle class tenancy 45-90K a year rents in the 1K-1.5K range.(although it probably applies across the board) – the biggest things are kitchens and baths – essentially you have to make everything ‘fresh’.
It doesnt have to be ‘fancy’ but you’ll rent alot quicker if everything looks fresh and clean. So new bathroom fixtures, new kitchen cabinets, new tile – again, you dont have to spend alot, it just has to give a clean appearance. In that vein, sand and poly all the floors (tremendous bang for the buck).
Last thing, if everything is looking spic and span and you want to get maximum rent – use stainless steel appliances – they cost about 35% more but you’ll get the money back in higher rent w/in 18mo
Here is a typical renovation that I do:
http://bedfordparkapartments.com/Dline/Dline.htm
We have two high-end rental units. Our rule of thumb has been that if it is something that we like, we include it in the rental. Also, we feel that it is still our property and improvements to the rentals are improvements to the property. Our properties have air conditioning (Mr. Slim units); hardwood flooring and new appliances and cabinetry in the kitchens and updated bathrooms. We have found that most tenants are happy to have these amenities, will take better care of the apartment in general, and are willing to spend a little more in rent.