For landlords, durable rental properties that minimize repairs can yield higher returns. With the lack of availability in resale properties for sale, building new rental houses designed to last is proving to be a better alternative.. Follow these three tips when building to rent:
Choose Durable Flooring
Avoid carpet, which wears out quickly in rentals. Opt for engineered hardwood, tile or vinyl plank flooring instead. Durable floors like these can last for decades with proper care.
Design With Tenants in Mind
Wider hallways and landings prevent wall damage from moving furniture. Neutral wall colors make touch-ups between tenants easy. Consider scratch-resistant paints as well. Smart design minimizes turnover costs between tenants and increases ROI.Â
Think Long Term and Don’t Skimp on MaterialsÂ
Invest in solid wood cabinets and quartz countertops made to withstand heavy use. Stainless steel appliances also hold up better long-term. Though pricier upfront, quality materials save money over time.
Proper materials selection and strategic design make a big difference in maintenance costs over a rental property’s lifetime. As inventory stays low, building new durable rentals can be a smart investment for higher returns.Â