If you are a first-time landlord, you might be wondering about the process of renovating your home for use as a rental. There are many things that you should know, and today’s Triumph Property Management blog covers a few issues you might not have thought of.

Your Contractor Probably Uses Apps to Estimate

Many contractors these days use estimating software to get you the best price as quickly as possible. One of these might include something to help calculate roof measurements that aren’t always easy to do with manual methods. Their software will pull local cost and will help them better customize your price.

Your electrician may also use estimating software specifically for electricians to map wires and offer an accurate estimate. Don’t be alarmed if your contractor takes lots of pictures and doesn’t give you a price on the spot.

Adding a Home Office May Attract Renters

With so many people working from home these days, a home office is an attractive amenity that may command a higher rental rate. If you don’t have a spare bedroom, don’t fret. There are still plenty of spaces where you can sneak in a productive workspace, such as under the stairs.

Need inspiration? Here are more than two dozen small office layouts that will look great in your rental. One of the most important things to keep in mind as you plan your office is to make sure it’s near a window or, at the very least, that you have ample overhead lighting available.

Renovations Rarely Go on Time or on Budget

No matter how small your home renovation is, there’s a good chance that it will go over budget and won’t get finished on the original date. There are many reasons for this, and these include supply chain disruptions and unknown issues.

New Creations, a Texas-based kitchen, and bath renovation specialist, notes that it’s a good idea to have 5 to 10% of the entire project amount set aside for those “just in case” problems.

Choose Your Updates Strategically

Even if you’ve already planned a home office, it’s time to look at some other renovations and how they might affect your ability to rent your property. Two of the most important rooms to pay attention to are the kitchen and master bathroom.

You’ll also want to spend some time and money updating the curb appeal and, importantly, installing durable hardwood floors, which are preferred to carpet in rentals.

Should You Renovate When Tenants Are in Place?

The short answer here: No. However, sometimes renovations and updates can’t be helped, such as if the unit was damaged by a storm or has unexpected electrical, plumbing, or other issues.

Apartments.com recommends meeting with your tenant to discuss the issues and how renovations might affect their enjoyment of the property. You may also offer a temporary reduced rent for the inconvenience. If your rental is part of a larger property, like a condominium, you may also wish to have your property management agency speak with the other owners/rental agencies to give everyone a heads-up that work is about to take place.

Perhaps most importantly, avoid doing renovations on your own beyond a simple aesthetic update. The National Association Of The Remodeling Industry explains that you’ll probably also need a permit for anything that involves the walls, roof, driveway, or porch.

Your rental home deserves to be renovated in a way that makes it cozy and comfortable for your tenants and gains value for you in the future. From having a home office to understanding the types of software your contractor might use to let the neighbors know what’s going on, today’s tips can help you streamline the remodeling process so you can start to earn an income off of your investment.