Every rental market is different but here in the greater Los Angeles area there are 3 things I encourage owners to invest in as they will return higher rents.
- First, central air.
- Second, a dishwasher.
- Third, a garage.
Absolutely necessary? No.
Habitability requirements? No.
Will attract a higher income tenant who is willing to pay a higher rent? Yes.
If none of those are in the current budget then the very minimum is an immaculate unit and fresh paint. If you can’t afford to replace the kitchen, change out the hardware on existing cabinets including hinges. Paint top and bottom cabinets complementary colors for the popular referred to in decorating circles as the “tuxedo” effect. Can’t afford recessed lighting? Replacing existing fixtures with something more stylish is a low cost update and the big box stores have lots of inexpensive choices. Remember quality units attract quality tenants.