Ideas for Designing Rental Properties

Unit Separation

• A rental property should offer autonomy. Each unit should have a separate entrance and its own private bathroom and kitchen. Renters also appreciate having access to a washer and dryer. Each unit should be designed with its own temperature and lighting controls. This allows renters not only to accommodate their personal preferences with regard to comfort, but also to exercise control over the amount they pay for utilities. Ensuring privacy is also essential. If a rental unit shares one or more walls (or a ceiling or floor) with another unit, insulating against sound is a must.

Ensuring Energy Efficiency

• Give some thought to energy efficiency. Low energy costs are a plus all around. Factors to consider include the orientation of the building and the size and placement of windows. An abundance of natural light is not only cheery, but can cut down on heating costs. On the other hand, if you live in a warm climate, you may want to limit the amount of sun shining in. You can accomplish this with insulated window coverings. Insulation is key for heating as well as cooling. An uninsulated ceiling accounts for up to 35 percent of a home's heat loss, and uninsulated walls may be responsible for 15 to 25 percent. Also consider the efficiency of household appliances and the type of lighting you choose. Replace incandescent bulbs with CFLs, for example, and the lighting will last longer and cost less. Low-flow toilets and showerheads will conserve water.

Walls and Floors

• You can modernize and refresh a rental property relatively inexpensively by painting the walls in modern but neutral colors. Shades of tan and gray are popular, as are soft sages and terra cottas. Spa-like hues of green and blue are attractive in bathrooms. Avoid harsh, bright and deep colors. Flooring should be easy to maintain. Carpeting harbors allergens, retains odors, and presents more stain-cleaning problems than hard floors like wood, tile and vinyl. A tiled backsplash in the kitchen not only protects the walls but is also aesthetically pleasing. If you want to command top dollar, use top-quality materials. Granite countertops, stainless steel appliances and hardwood floors are in demand. Storage space is also a factor, especially when square footage is minimal. Think outside the traditional closet to bookshelves, wall-mounted shelves and entertainment systems. These items may be built in or purchased inexpensively, from retail outlets like Ikea.

Outdoor Amenities

• Don't overlook parking, curb appeal and outdoor living space. Where will your renters park their vehicles? Off-street parking is a plus. Attractive landscaping is an incentive to renters to look beyond the exterior. And if you can offer a private patio or fenced-yard area for your unit's occupants, so much the better.