In today’s competitive rental market, property owners are constantly seeking ways to increase rental income without drastically raising rates. One of the most effective strategies is investing in smart, targeted renovations that boost property value and tenant satisfaction. But not all upgrades are created equal—some renovations offer significantly higher rent premiums than others.
1. Kitchen Modernization
A sleek, modern kitchen is one of the top features tenants look for. Replacing outdated cabinetry, countertops, and appliances with contemporary finishes can command higher rents. Stainless steel appliances, quartz or granite countertops, and soft-close drawers add a luxurious feel that tenants are willing to pay more for.
2. Bathroom Upgrades
Bathrooms are often overlooked, but even small improvements can make a big impact. Installing modern vanities, LED mirrors, and water-saving fixtures not only enhances appeal but also improves efficiency. Walk-in showers with glass doors and updated tile work can elevate the space and justify rent increases.
3. In-Unit Laundry
Tenants love convenience. Adding a washer and dryer inside the unit—especially in markets where this feature is rare—can increase monthly rent by $50–$100 or more. This renovation is particularly valuable for young professionals and small families.
4. Smart Home Features
From smart thermostats and keyless entry to smart lighting, tech upgrades are increasingly popular. These features enhance security, comfort, and energy savings, all of which contribute to higher tenant satisfaction and retention—leading to premium rental rates.
5. Flooring and Lighting Improvements
Replacing old carpets with luxury vinyl plank (LVP) flooring or hardwood-style surfaces adds a clean, modern aesthetic. Pair this with updated light fixtures or LED lighting for a bright, inviting space that feels fresh and upgraded.
6. Curb Appeal and Common Areas
First impressions matter. Upgrading exterior elements—like landscaping, signage, and entryways—enhances curb appeal. Renovating shared amenities such as lobbies, fitness centers, or outdoor lounges can also justify premium rents by delivering a better living experience.
The Role of Experienced Contractors
Executing these renovations effectively requires the right expertise. Multifamily General Contractors are essential in planning and implementing value-add upgrades efficiently and within budget. They understand the unique needs of multi-unit properties and can help prioritize renovations that maximize returns.
Working with professional Multifamily General Contractors ensures the upgrades are code-compliant, tenant-friendly, and strategically designed to boost both appeal and income.
About Renu
Renu is a trusted partner for multifamily property owners seeking smart renovation solutions. As a leading renovation contractor, Renu specializes in delivering tailored upgrade strategies that drive real ROI. From unit interiors to amenity overhauls, Renu’s expert team ensures every project adds value and enhances tenant satisfaction.
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Enjoy the very best Leduc and Edmonton have to offer.
MacEwan Greens is close to some of Leduc’s finest amenities and parks.MacEwan Greens is located in a quiet suburb and offers beautifully finished living accommodations for renters in Leduc.
We have new landscaping, security monitored common areas, wide hallways, three elevators and above ground energized parking or underground heated parking all at competitive pricing.
We have bachelor, one bedroom, two bedroom, three bedroom and loft suites to suit your needs.
Whether you are downsizing, relocating for work or just want a fabulous place to call home, you will find our suites peaceful, secure.....We are situated on a quiet, tree lined street in the Northwest area of Leduc.
Take Hwy 39 West, head North on Grant MacEwan Boulevard, and we are on the left just before Bridgeport Gate Road.
