Best Upgrades For Rental Property: Boost Value, Rent, and Tenant Appeal

Keeping your rental property competitive in today’s market isn’t just about location; it’s about creating a space that feels updated, functional, and worth the price. Thoughtful upgrades allow you to increase rent, attract dependable tenants, and minimize ongoing repair issues—all while boosting your property’s long-term value.

Across the U.S., renters consistently choose homes that look modern, operate efficiently, and require minimal upkeep. Features like durable flooring, updated appliances, smart home technology, and energy-saving fixtures can instantly elevate the appeal of your unit. In markets like Oklahoma City, where affordability meets rising demand, even modest improvements can position your property above competing rentals and increase your ROI.

Let’s walk through the best upgrades for your rental property from small weekend fixes to high-impact renovations that truly pay off.

Why Upgrading Your Rental Property Matters

Upgrading your rental property isn’t about making it luxurious. It’s about making it functional, durable, and appealing to the renters you want to attract. Smart improvements increase your property’s value, reduce vacancies, and help you secure reliable, long-term tenants.

According to Zillow, well-updated rentals can command 10-20% higher rent than outdated units in the same neighborhood. This means even modest investments; like replacing flooring or installing modern lighting, can quickly deliver a strong return on investment.

When planned strategically, property upgrades also help you:

• Lower ongoing repair costs through durable materials
• Increase energy efficiency (reducing utility-related complaints)
• Improve tenant satisfaction and boost renewal rates
• Boost your property’s resale value in the future.

What Makes a Rental Upgrade Worth It?

Not every upgrade guarantees returns. A successful upgrade does three things:

• Improve the tenant experience (comfort, convenience, or aesthetic)
• Reduces landlord costs (maintenance, repairs, turnover)
• Fits your local rental market (don’t overspend beyond what’s typical in your area).

For example, a $3,000 kitchen refresh, new cabinet paint, upgraded lighting, and modern hardware, might allow you to raise rent by $150-$200 per month. That means your investment pays itself off in just over a year.

In contrast, a luxury marble bathroom remodel may not make sense in a mid-range rental neighborhood.

The key? Invest where tenants see and feel the value.

Top Interior Upgrades That Add Real Value

1. Kitchen Upgrades

The kitchen is one of the first areas tenants look at, and one of the easiest ways to stand out. You don’t need a full remodel. Focus on minor, high-impact upgrades such as:

• Painting or refinishing cabinets.
• Replacing outdated hardware and faucets
• Installing energy-efficient appliances
• Adding a tile backsplash or modern countertops

According to HomeAdvisor, kitchen updates typically return 70-80% of their cost in added property value or rental potential.

Pro Tip: Stick with neutral colors and durable surfaces like laminate or quartz. They look clean and are easier to maintain between tenants.

2. Bathroom Upgrades

Bathrooms are small spaces that make a big impression. A clean, bright, and modern bathroom helps tenants feel at home.

Cost-effective upgrades include:

• Replacing old faucets and showerhades
• Installing a new mirror or vanity light
• Regrouting tiles and replacing caulk
• Adding low-flow toilets and fixtures

If your budget allows, consider swapping an old tub for a walk-in shower, a feature many renters now prefer.

Local Note: In humid climates like Oklahoma, proper ventilation and mold-resistant paint are must-haves to prevent long-term issues.

3. Flooring Improvements

Flooring has one of the highest ROI of any rental upgrade. It instantly transforms how a space feels and functions.

Most property managers in Oklahoma recommend vinyl plank flooring; It’s affordable, waterproof, scratch-resistant, and stylish.

Benefits of upgrading flooring:

• Easier to clean and maintain
• Longer lifespan than carpet
• Reduces allergens (a plus for tenants with pets or kids)

Avoid light carpets, they stain easily and shorten your turnover cycle. If you prefer carpet in bedrooms, choose darker tones and stain-resistant materials.

4. Fresh Paint and Lighting

A fresh coat of paint and better lighting can make even older rentals look brand new. Choose neutral colors like warm gray, beige, or soft white to create a clean, move-in ready feel. Pair that with modern lighting fixtures, LEDs, recessed lights, or updated pendants, and you’ve got a cost-effective transformation.

Quick Data: New paint and lighting upgrades can increase perceived property value by 5-10%, according to Realtor.com.

Best Exterior Upgrades for Curb Appeal

Curb appeal sets the tone for your entire rental. A great first impression can be the difference between an empty property and a signed lease.

1. Landscaping and Entryway

You don’t need an expensive overhaul, just focus on cleanliness and simplicity:

• Trim trees and shrubs regularly
• Add mulch, fresh flowers, or gravel
• Paint or replace the front door
• Update the mailbox and house numbers
• Add solar-powered path lights

In Oklahoma, when curb appeal often determines how quickly a home rents, these small touches go a long way.

2. Outdoor Living Spaces

Outdoor areas are now major selling points, especially for families and pet owners.

Consider adding:

• A small patio or deck
• Outdoor seating or shade cover
• String lights or privacy fencing

Even in smaller Oklahoma City homes, simple backyard upgrades can increase tenant satisfaction and rental value.

Smart Home and Energy-Efficient Upgrades

Today’s tenants love convenience, and landlords love savings. Smart home technology offers both.

Smart Upgrades to Consider:

• Smart thermostats (Nest, Ecobee)
• Smart locks and keyless entry
• Motion-sensor lighting
• Leak detection sensors

According to Energy.gov, energy-efficient rentals can reduce tenant utility costs by 15-25%. That makes your property more appealing and marketable.

In states like Oklahoma, where temperatures swing dramatically, programmable thermostats are especially valuable. They help regulate heating and cooling efficiently.

Low-Cost Upgrades That Make a Big Difference

You don’t have to break the bank to make your property stand out. Small changes often create outsized results.

Here are some budget-friendly improvements that pay off:

• Replace blinds or add modern curtains
• Update doorknobs, cabinet handles, and outlet covers
• Swap old thermostats for modern ones
• Add extra shelving or closet organizers
• Deep clean appliances and grout before showings

Even a $500 refresh can make your property look better-maintained and more inviting.

Upgrades That Reduce Maintenance and Turnover

Savvy landlords think long-term. The best upgrades not only boost appeal but cut future maintenance costs and reduce turnover frequency.

Durable Materials

Invest in materials that can withstand wear and tear:

• Quartz or laminate countertops
• Vinyl plank flooring
• Semi-gloss wall paint (easy to clean)
• Metal or fiberglass doors

Preventative Smart Features

• Install water leak sensors under sinks
• Use moisture alarms in basements
• Add low-maintenance landscaping (e.g., native plants)

In Oklahoma, where seasonal humidity and temperature shifts can cause damage, these preventative steps can save thousands over time.

Mistakes to Avoid When Upgrading Rentals

Even well-intentioned landlords can overspend or miscalculate their upgrades. Avoid these common pitfalls:

1. Over-Improving for the Neighborhood: Don’t install granite countertops in an area where average rents don’t justify the cost.
2. Ignoring ROI: Always compare your planned upgrade to potential rent increase.
3. Skipping Quality Contractors: Cheap labor can lead to poor workmanship and expensive fixes later.
4. Neglecting Permits: Local regulations (especially for electrical or structural changes) matter. Stay compliant.

Pro Insight: Talk to a local property manager or real estate agent before upgrading. They can help you estimate realistic rent increases and what features tenants in your area value most.

How to Prioritize and Budget Your Upgrades?

Every property is different, so start by identifying what will make the biggest impact for your tenants.

Step 1: Inspect and Evaluate

Walk through your property like a tenant. What looks outdated or broken? What could make daily living easier?

Step 2: Rank by ROI and Necessity

• High ROI upgrades: Flooring, paint, appliances, lighting
• Medium ROI: Landscaping, bathroom fixtures, doors
• Low ROI: Luxury finishes, custom designs

Step 3: Budget Smartly

As a rule of thumb, plan to invest 5-10% of your property annual rental income into maintenance and upgrades each year.

For example: If your property rents for $1,500/month ($18,000/year), a $1,000-$1,800 upgrade budget keeps your unit competitive without overcapitalizing.

Step 4: Explore Financing or Tax Benefits

Some upgrades may qualify as capital improvements and be depreciated over time for tax benefits. Energy-efficient upgrades may even qualify for federal credits.

Always consult your accountable or property manager to plan upgrades that align with your financial goals.

Smart Upgrades Build Long-Term Wealth

Upgrading your rental property is one of the smartest investment you can make as landlord. Whether you own one unit in Oklahoma City or several across the U.S., strategic upgrades help you:

• Increase rent and property value
• Attract reliable, long-term tenants
• Lower maintenance costs and turnover
• Building long-term wealth through appreciation

Start small: paint, lighting, or flooring, and reinvest your profits into bigger projects over time.

If managing upgrades feels overwhelming, consider partnering with OKC Home Realty Services, a local property management company. We can help coordinate contractors, manage budgets, and ensure upgrades align with tenant expectations and local market trends.

Because in real estate, the goal isn’t just owning property; it’s owning property that performs.

FAQs About Rental Property Upgrades