Let's face it, your investment property needs a face-lift. It screams this to every potential renter.

Remodeling isn't cheap. Add to the cost of upgrades the loss of a month or two in rent because no tenant wants to suffer through the dust and noise.

But what if you could make some desirable updates without interfering with your renter's sense of peace?

With the cost of home ownership on the rise, more and more people are renting than ever before.

But the younger crowd isn't content with the status quo, and if you'd like to lease your property to the up-and-coming Millennials, it's going to mean a few upgrades.

Modernization is one of the simplest ways to boost the appeal of your investment properties. After all, this age group isn't considered techies and "plugged-in" without good reason.

Open it Up

These days, an open floor plan is one of the most requested items on every buyer and renter's wish list. Consumers want unsegmented kitchen-dining-living areas that add light and spaciousness.

If you're looking for the best way to get top-tier renters, consider knocking out the walls between the kitchen, dining room and living area. Opt for a bar to create a barrier that doesn't distract from the open feeling or block the flow of light that gives the appearance of vast space (even in a small area).

Stainless is Modern

Kitchens make or break it for many rentals. New appliances always increase a home's value for resale and upgrading from standard white refrigerators to a stainless-steel model appeals to renters, too. This simple replacement modernizes the look of the entire room.

And while you're updating, something as simple as upgrading hardware on the cabinets gives the feel of newness and luxury. Make sure to go for up-to-date styles rather than something classic or timeless (which screams I'm out-of-touch).

It's in the Lock

Back in the day, you had key rings for everything and a handy row of hooks to hang them on near your entrance and exit. These days, digitization is king.

Almost 86 percent of Millennials say they'd happily pay twenty percent more in rent for a "smart" apartment. And by that, they mean one with keyless entry and smart locks.

That means it's time to upgrade your regular lock to a Bluetooth lock and install a camera-equipped security doorbell. If you can incorporate the cost of the upgrade into the monthly lease amount, you've got nothing to lose (except renters to a competitor who will make those upgrades).

Consider Pets

The American Veterinary Association estimates that fifty percent of renters have pets. In fact, Millennials -biggest group of renters in America-own more pets than their parents and grandparents. To market to them, you must welcome pets.

This means upgrading to flooring that is resistant to pet accidents and hair accumulation. Stylish and modern-looking laminate flooring isn't damaged by claw marks either.

These renters-responsible pet owners-will pay the substantial pet deposit, so no need to risk losing money on your investment.

Go Cordless

It's the digital age. Everything's cordless, right? Pretty much. So why aren't the blinds covering those bedroom windows?

If you're marketing to families with children, cordless blinds make the space safer for kids and pets. While you're upgrading, why not install motorized, remote-controlled blinds for a high-tech approach?



It's your investment. With some calculated upgrades, it will net a better bottom line for you in the future.