The type of flooring you choose for your rental property is a significant decision that requires a lot of forethought. After all, it is a considerable expense, so it would be best to get something durable that offers a good return on your investment. Although it’s one thing to know the best flooring options for rental property, it’s another to know which suits your needs the most.
In this article, we’ll take a look at some of the best tips for choosing rental property flooring.
One of the essential features of any flooring you decide to install in your rental property should be durability. After all, the last thing you want is to replace your floors frequently to reduce tenant turnover. Floors have to endure a lot of foot traffic from people, luggage, kids, and pets. If your flooring is sub-par and can’t withstand much pressure, you’ll have to fork over more money to replace or fix it. Undoubtedly, that will increase your maintenance costs and eat into your profits.
It’s not enough to pick out a durable floor. You also need to get a low-maintenance one. As a landlord, you should always strive to reduce your tenant’s workload because you do not know their schedules. You could rent out your unit to someone who only has time to vacuum on the weekends. If you install flooring that requires elaborate and expensive cleaning products, then it’ll wear out faster. So it would be in your best interest and that of your tenants’ to get a floor type that requires minimal maintenance.
Another crucial factor to consider when choosing rental property flooring is the price. At this stage, you need to consider your financial standing and carve out a realistic budget for this project. Also, it would be best to keep in mind that there might be some miscellaneous expenditure, so try not to keep the budget too tight. That said, once you’ve determined how much you can spend on flooring, then you can head into the market to find something pocket-friendly.
Most people prefer a uniform look in every room in the house, and while that does add to the decor, it’s not the only option. There are many ways you can combine different floor types in a single home without looking tacky. For instance, you can install solid oak hardwood floors in your living room and use a linoleum copy in the bedrooms. This option is more budget-friendly without compromising the aesthetics of uniform flooring. So feel free to get creative.
When tenants go house shopping for a place to rent, aesthetics is one of their main criteria. Nobody wants to live in a dingy, dirty-looking house if they can help it. Thus, you have to pay attention to your flooring, as it is a significant contributor to the interior appeal.
You also have to remember that everyone has their taste. So try to keep your choice as generic and universally acceptable as possible. For example, you might think an unusual tile pattern adds character to your apartment; but potential tenants who will be paying the rent might think it’s dreadful. Endeavor to keep your taste at bay when deciding on a floor type, and stick to more neutral options.
Another significant consideration when choosing floor type is the safety of your tenants. One of your many obligations is to protect your tenants’ lives and properties as a landlord. If you fail to comply with this responsibility, you could be facing a lawsuit. That’s not to say that any tenant will sue you for installing the wrong type of tiles, but it does help to get it right.
For instance, tiles are a popular flooring choice, but they can be slippery, making them dangerous. However, specific types of tiles like matte are significantly less slippery. So they might be a better option in rooms like the kitchen and bath.
Real estate is renowned for its stability in the face of inflation. Although most owners can always count on their property to appreciate over time, you can also take matters into your hands. You can make a handful of renovations to your rental to improve the ROI and resell value. Your flooring is one of such cosmetic changes that significantly affect the ROI. But it depends on the type of floor.
Hardwood can last several decades and requires minimal maintenance, so it’s your best option if you’re looking to boost your home’s value. However, you don’t have to wait decades to reap the benefits of installing wooden floors. It also gives your house an elegant finishing, so it can still increase your monthly rent payments in the short term.
If you aim to please all your tenants and keep their complaints to the barest minimum, you need to consider your property type when choosing your flooring. If you own a multi-family complex or an apartment building with residents living over each other, then you need acoustic flooring. Acoustic floors are excellent at minimizing sound and other disturbances.
Hardwood, for instance, might not be the best option in this property type because it is a poor sound insulator. While that might not be a problem when five or fewer people live in the building, it can be a dealbreaker when dealing with three families or more. As a result, you might have a higher tenant turnover because a lovely property can’t make up for lack of peace. If this scenario applies to you, you should look into carpeting, cork, or vinyl options.
Property size ties in closely with your budget. Wooden floors are attractive and durable, but if you have limited funds, you might not be able to afford quality materials.
Rather than settle for subpar materials prone to scratches and damage, opt for a more suitable and affordable floor type. Engineered wood, cork, and linoleum are viable options that have the elegant look of hardwood.
Different rooms in the house have different functions and so particular needs. Spaces like the bathroom and kitchen are prone to more water spills, so it would be a mistake to use flooring like linoleum which handles water poorly. Matte tiles or hardwood, which are more water-resistant, are better for those rooms.
So when choosing a flooring type, endeavor to pick one that fits the room’s functionality. That way your tenants can work effectively in the different rooms in the house. Moreso, when you pick a flooring that fits the purpose of the room it lasts longer and you can save more money.
Finally, when selecting a flooring type, you must consider the tenants you’re attracting. If your property is located near a university, then you’ll most likely pull college students who are responsible for the most part. In that scenario, carpeting is an attractive and easily replaceable option. On the other hand, if you’re attracting families with young kids and pets, carpeting might not be your best bet. You’ll most likely have to change it more frequently due to stains, scratches, and other mishaps.
There you have it! Ten great tips for choosing for rental property flooring. Hopefully, this guide helps you select the best option depending on your rental type.