In-unit laundry or washer/dryer hookups
$60–$120/mo
Payback: 8–18 months when plumbing is nearby
High tenant value; verify electrical capacity and venting.
Rental upgrades that actually pay off.
Focus on upgrades that tenants will pay for and that lease faster. Start with convenience and reliability before cosmetics.
Fast paybackTenant valuePhoto impact
High-ROI upgrades (2025-validated)
Use these 2025-validated estimates to prioritize work. Adjust for your market and existing rent level.
Covered or assigned parking
$40–$110/mo
Payback: 6–15 months depending on market and snow exposure
Fastest ROI in urban/suburban markets with limited street parking.
LED lighting + smart thermostat
$15–$35/mo
Payback: 6–12 months with utility savings and marketing appeal
Cheap, quick install that photographs well and lowers resident bills.
Kitchen refresh (painted cabinets + hardware + faucet)
$50–$140/mo
Payback: 12–24 months if boxes are solid and layout stays the same
Use durable paint; swap counters only if existing is visibly damaged.
Bathroom refresh (caulk, grout, fixtures, mirror)
$35–$90/mo
Payback: 8–16 months
Recaulk and regrout before replacing tile; new mirrors and lights go far.
Upgrades to skip or postpone
Save budget for maintenance and core convenience features first.
- Luxury appliance packages that exceed neighborhood norms.
- High-end countertops when cabinets or layout are outdated.
- Grey-on-grey paint and flooring that shows wear quickly—choose warm neutrals.
- Barn doors that reduce privacy or closet storage.
- Complicated smart locks without a backup key option.
Price moves vs upgrades
- Test a 1–2% price move before committing to a cosmetic upgrade.
- If inquiries are strong, focus on speed to lease instead of raising price further.
- Use upgrades to support renewals—especially laundry, parking, and lighting.
Last Updated: January 2025
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