Renovating a Rental Property: Look before you Leap

Renovating a Rental Property: Look before you Leap

Renovating a rental property may seem like an impossible task for you. But, you can start the renovation project after discussing it with the landlord. Make sure to consider the tenancy agreement and the rent amount before hiring a home renovation contractor.

It is frustrating if your home doesn’t feel like one.

If you do not like the look of your home, you can change a few things and make it suitable to your lifestyle. But, what can you do if you do not own a real-estate property? A big challenge of living in a rental property is to make it feel like your own.

A Strategy for Success

If you are interested in adding your style to a rental property, think of renovating it. But, do not start looking for a home renovation contractor before considering your situation. You must follow a comprehensive strategy that will enable you to create a beautiful living space. Here’s how you can start the process of improving a rental property:

  • Obtain the Permission from the Landlord

The landlord may not permit you to renovate the entire kitchen especially if it entails knocking down a few walls. And, as you will move to a different place in a couple years, a complex renovation project can be harmful for your financial situation. But, it doesn’t mean that you cannot think of improving your living space. Consult the agent or the landlord and find out what kind of renovation projects are allowed in the tenancy agreement.

  • Get Written Consent

A standard tenancy agreement does not allow any alterations, renovations or additions to the property without the written consent from the landlord. So, it is necessary to talk to the landlord about your options and find out how far you can go without breaching the terms of the agreement. Remember that there is always the option of finding a new property if the current situation seems difficult to manage.

  • Consider Temporary Options

The picture will be become quite clear when you discuss your renovation ideas with the landlord. If he dismisses your ideas, do not worry. Think of other temporary options. For example, if the landlord doesn’t permit you to replace the floorboards, do not lose your sleep. You can consider polishing the floor or installing a new carpet and give it a new look. Also, the landlord will have no problem with the changes because of their reversible nature. Consider the following temporary changes that you can make in your home:

  1. Buy small plants to brighten up the space.
  2. Opt for unique artwork to hide the dull paint of walls.
  3. Consider smart placement of furniture to conceal crack in the walls.
  4. Paint the exterior of the property and make it appealing.
  5. Install removable wallpaper, if you are unable to paint the walls.
  6. Add color to the room with the help of new curtains and beddings.
  7. Replace the old shower-heads and light fixtures with the ones you like. If you remove any of the fixtures, store them and remember to put them back before you leave the property.
  • Pleading your Case

If you feel that the property needs some major work such as installing new kitchen countertops or mounting modern appliances, you should not hesitate to plead your case to the landlord. You must remind him that broken countertops and outdated appliances do not help anyone. Do not shy away from discussing things with him. Remember that he may not be averse to making changes because a well-maintained rental property will help him to attract tenants in the future.

  • Is the Investment worth it?

If the landlord has agreed to pay for the renovation work, he may increase the rent amount in the future. It is because any renovation work increases the value of a property. So, it is essential to consider your tenancy agreement before calling the landlord.

Think about the cost of renovating the rental property. Is it worth to spend a large amount of money on it? It is wise to invest in things that you can take with you when you move to a different place. Do not spend a large part of your savings on a rental property because it belongs to someone else.

Look before you Leap

If you do not have a place of your own, you must make wise decisions and opt for renovation projects that do not break your back. Do not begin any work in your home before considering its repercussions thoroughly. It is advisable to hire an experienced renovation contractor of Toronto because he will provide you with practical advice.

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