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Many landlords get caught up in maintaining their property as it is, and they often need to remember that renovations are essential to attracting new tenants. The higher your curb appeal and the aesthetics of your interior, the more prospective renters are willing to put in an application. So if you need help to reduce tenant turnover and fill your vacancies, your rental might need an update.
However, property owners also shy away from remodeling projects because they can be costly, especially with low ROI. But luxury real estate doesn’t have to be expensive. You can boost your rental income and attract more renters with a few tasteful choices. Here are the top 5 benefits of upgrading old light fixtures in a rental home.
5 Benefits of Upgrading Old Light Fixtures in a Rental Home
- It Reduces Your Energy Bill
It might seem counterintuitive, but spending money on newer light fixtures can help you save money in the long run. In addition, modern lighting is designed to be as energy-efficient as possible, meaning that an upgrade will leave a smaller footprint on your utility bill. Hence it might be time to swap those incandescent lamp holders for more modern LED bulbs.
- It Provides Better Illumination
If the natural lighting isn’t your home’s strongest forte, you need to offset that drawback with something that makes it pop at night. If your overhead lights don’t cut it, opt for an ingenious yet contemporary solution like lighting underneath shelves, cabinets, and closets. This look can increase your home’s value while providing much-needed illumination for tenants to navigate the house without accidents. You can also swap out your grimy, opaque, old fixtures for a more modern glassy take that doesn’t dim your bulb’s shine.
- It Gives Your Room a Better Aesthetic
Besides brightening up a space, newer fixtures can give your home a more modern touch. You shouldn’t expect everyone to fall in love with your room’s retro vibes, especially when trying to target a younger demographic. Bay Property Management Group Richmond may suggest modern upgrades that attract quality tenants. Outdated light designs can repel potential renters in favor of a home with more contemporary or elegant fixtures. Instead, elevate your rental’s look with modern pieces like mood-enhancing, glass, or smart lighting.
- It Improves Your Home’s Safety
Another benefit of upgrading old light fixtures is improving your home’s safety. Burnt or broken bulbs in the laundry room, stairwells, hallways, and other common areas can be a precursor to falls or accidents. Considering a replacement in these places is often the landlord’s responsibility; you could find yourself in a civil suit. Besides, the lack of maintenance could deter potential renters from moving into your rental.
Besides avoiding a safety hazard for your tenants, upgrading your outdoor lights could dissuade robbers and other vandals from trespassing, thus, improving your home’s security.
- It Has an Excellent ROI
Finally, if you’re not impressed with benefits like improved safety and better illumination, upgrading your light fixtures also has the added advantage of an excellent ROI. There are several ways to make your house look more modern and aesthetically pleasing, but only a handful are worth the price tag. On the other hand, updated light fixtures are a pocket-friendly option that can pay off quickly while making a huge difference. Besides, considering other perks like enhanced safety and appeal to more tenants, they can help you keep vacancies low.
Best Type of Lighting for Each Room
- Living Room
Lighting in the living room is essential because it is a central hub to entertain visitors, catch up with family, or watch your favorite shows. Thus, interior designers try to integrate ambient light, which illuminates the entire room and is perfect for when you’re hosting. You can also incorporate mood-enhancing lights that are dimmer and prettier, which work best for a movie night. Finally, add an accent or task light to make it easier to see without disrupting the mood. A table or floor lamp is also an easy improvement for renters that requires minor modification and doesn’t risk their security deposit.
- Kitchen
Another area that needs to be well-lit is the kitchen. Again, as a hotspot for accidents, you should leverage natural light with large windows, but if that’s not possible, compensate with a bright central ceiling fixture. You can also add medium-sized bulbs around specific areas, making it easier to see inside cabinets or stores, especially when it’s dark.
- Bathroom
Make it easier for your tenants to get their makeup done or general grooming by reducing shadows with your lighting. For example, an overhead ceiling light might be perfect for your kitchen, but wall-mounted features near mirrors are a much better option for your bathroom.
Conclusion
Your home should be a constant work in progress to keep your interior design modern and appealing to potential renters. A lower electric bill, improved security, and an excellent ROI are tremendous benefits of upgrading your old light fixtures you should certainly leverage.
Do you need help finding the best service to complete this job? Or do you want some assistance with supervision and monitoring? If so, it would be best to hire a professional property management company to take care of these duties.
