Adding value to your unit is essential in today’s competitive rental market. Renters are pickier that ever before and they have lots of choices.

Lowering your rent of course is the easiest. Who doesn’t like getting more for less? The problem with this solution is that the value of your building suffers. Commercial real estate values are largely determined by the income generated. The more revenue the building generates, the higher the appraised value.

My solution is to make my units as up to the moment trend wise as possible. If you don’t feel that you have a designers eye, hire one for a consultation. A couple of hours of design time to help you update the look of your units will be well worth it. Also check out design magazines. You don’t have to buy the most expensive items advertised of course. Once you decide on the look you want you can shop quite affordably at discounted retailers and get the same look. They are all also following the current trends.

My units are Spanish. People in Southern California love the Spanish Bungalow Court style. I have an designer interior color pallet that is standard for all of the interiors. I choose a bold accent color for the front door to make it inviting. Hardwood floors are preferable. Some of my floors are not in the best condition and refinishing them would be too expensive. Actually, some of the floors are in very poor condition including having rude screws and rough texture. I have gotten around this by using a gel stain, usually cherry color. After lightly sanding I apply it with a brush texture that almost looks like a wood grain. Then I coat it with polyurethane. I can’t tell you how may people walk in and comment how beautiful the floors are.

Lighting is also critical. I install wall sconces in the living rooms to create mood lighting. I always use the brightest bulbs. Light creates the illusion of space. I also get sheer white drapes from Big Lots. They are $5 each and they allow light to come into the windows and make the unit seem private. In one building there are big french windows and I accentuate the look by getting extra long sheers and hanging them higher than the window. I creates a beautiful line and the room has a much more spacious look. I go for an elegant tailored feel.

I think kitchens and bathroom should have a cheerful approachable look. I have been painting my kitchens a pale yellow with bright white trim. Recently, I found a black and white checked vinyl floor that looks amazing. It looks retro and people love it.

All this probably sound very bold I know. Common thought dictates the use of navajo white and muted everything to appeal to the broadest audience. If you are going to do something creative, it is important to get it right. I chose a Pottery Barn type of look and it works. If I had a mid century property I would likely go more modern.

In the end, I am looking for the best affordable solution that makes people want to live there. Retailers sell people on trends and while it is not practical to make your units larger or cheaper you can make them more visually appealing and that alone will generate renters.