How Flooring Upgrades Can Increase Your Home Value and Maximize Rental Income

Rental property flooring can wear out quickly or become unsuitable for the kind of image a landlord wants to create for their property, especially in today’s competitive market.

A rental home with wood flooring
Image courtesy of Pexels

Because the flooring in a rental plays a big role in attracting tenants to the home, upgrading it can be a good way to increase rental income, advises McCawPropertyManagement.com.

There are several reasons why flooring is important in a rental property, and renters will consider at least one of these reasons when choosing a place to rent:

  • Aesthetics: The flooring serves as an ever-present backdrop to everything in the home. It can dampen or enhance the home’s style and design. The first thing renters look at is how attractive the flooring is and if it fits their desired lifestyle.
  • Functionality: Flooring principally affects the acoustics and energy consumption of the home. This second factor is significant for both you and your tenants. Flooring that forces tenants to spend more to heat up the house is a disadvantage.
  • Safety: The risk of injury is another important consideration when choosing flooring. A surface that people are prone to slip on is a problem. So is an uneven surface that will cause tenants to trip and fall. Slip-resistant flooring helps to reduce the risks.
  • Comfort: How hard or cold does the floor feel when people walk on it? That’s important because children and pets like to play on the flooring. Also, excessively hard flooring can be tough on the foot, especially for older people.
  • Health: This is easily the biggest considerations for renters. Floors which harbor dust and pests can be a major problem. Flooring that traps moisture allows the growth of mold or mildew is also a problem, especially for renters with respiratory challenges or allergies.

How to choose new rental property flooring

How do you go about choosing a flooring that meets all of the above conditions? How should you decide the best flooring for your rental property?

Compared to changing the flooring in your own residence, rental flooring upgrades are not always a straightforward affair. Even though you may want to install the best flooring that will make tenants fall in love with your property, there are other factors to consider.

Firstly, why do you want to change the flooring? Attracting tenants to the property is only a secondary objective. The real goal of changing the rental’s flooring is to grow your rental property business. You can only do this if the new flooring:

  • Increases the desirability of the rental by enhancing its appeal. This will allow you to maximize income by charging higher rents.
  • Reduces operating costs by not being hard to maintain; it must be durable and not need constant attention.
  • Improves the resale value of your property.

Secondly, the flooring should not be expensive. Although expensive flooring will be better for attracting tenants and improving the home’s value, it is not the best option. Tenants may be unwilling or unable to maintain the flooring. Looking after expensive flooring will increase your operating costs.

Thirdly, the flooring should be attractive to tenants. Despite not being expensive, the material should look appealing. And it should not just attract any kind of renter, but high-value tenants who can afford to pay more in rent.

The best flooring options for your rental property

Solid Hardwood Flooring

Hardwood flooring is an attractive and long-lasting flooring material, but hardwood is expensive and difficult to maintain. However, if you buy pre-finished solid wood flooring with an aluminum oxide finish, you can avoid the need to periodically refinish the flooring. Hardwood flooring is suitable for upscale rentals where the high rent payments justify both the initial installation cost as well as the maintenance costs.

Laminate Flooring

If you want to avoid the cost and maintenance hassles of a real wood floor, this wood look-alike flooring is a practical alternative. Laminate floors are less expensive than wood, are moisture-resistant, scratch-proof and easy to maintain. Sections of the flooring can easily be replaced if damaged.

Engineered Hardwood Flooring

Engineered hardwood is the next best thing to wood. It is composed of layers of wood and looks exactly like wood flooring. It is as durable as traditional wood and particularly suited to floors with moisture issues. It is far less expensive than real hardwood and fairly scratch-proof if it comes with a wire-brushed surface.

Luxury Vinyl Flooring

Luxury vinyl is probably the most popular flooring for rental properties because of its versatility, durability and low cost. It is highly resistant to wear-and-tear, non-porous, comfortable underfoot and will not be dented by falling objects. The biggest problem with luxury vinyl is that it can look and feel fake.

Epoxy Flooring with Decorative Flake

Decorative epoxy floors are becoming increasingly popular as an affordable alternative to more expensive and high-maintenance flooring options. Epoxy flooring is durable, stain-resistant, easy to maintain, and creates a water-tight seal to prevent mold & mildew from damaging your rental property. Landlords can choose from a variety of color options to match any decor, giving the property a “million dollar look” for a fraction of the cost.

Getting a return on your rental property investment

Each of the above options will add value to your rental and let you charge more in rents. The best floor depends on the specific type of property, how it will be used by your tenants, and the ROI you expect to receive when you ultimately sell the property.

Artisan Garage Floors specializes in decorative concrete flooring in the Dallas-Ft. Worth area, with a 5-star customer rating. To get a free price estimate on a low-cost, a high-quality floor coating for your rental property, call us at 682-308-5812 today.

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