Affordable renter-friendly home improvements that add value
Zillow and Thumbtack data reveals the projects that personalize a rental for less than $1,000
Millennials and Gen Z adults priced out of homeownership are renting for longer, prompting many to seek out ways to personalize their not-so-temporary space. New data from Zillow and Thumbtack finds there are affordable, nonpermanent upgrades that allow renters to make their space their own and add value for their landlord.
Certain home features can contribute to more views, saves and shares per day when a home is listed on Zillow Rentals®, the number one most visited rental network. That makes many of these projects a win-win for landlords and renters alike. They also typically cost less than $1,000, based on national average cost estimates from Thumbtack, the technology company helping millions of people confidently care for and improve their homes.
“There are so many improvements that are both beneficial to a landlord and allow renters to make their space feel more like home,” said Emily McDonald, Zillow’s rental trends expert. “However, before making any major changes, renters should always review their lease and check with their landlord. If a renter can show how the upgrades add function or style, they may be more likely to get buy-in. In some cases, a landlord may be willing to split the costs if a renter is hiring a professional to do the work and willing to manage the project themselves.”
These are the seven renter-friendly home improvements to consider:
Swap out cabinet hardware: Changing out cabinet hardware is one of the easiest ways to make a kitchen or bathroom feel more contemporary. Choose half circles, fluted, or curved hardware for a fresh feel.
As for color, matte black finishes can modernize a space and help a rental listing get 25% more saves and 49% more shares per day on Zillow Rentals. The cost of updating hardware or fixtures can range anywhere from $50 to a few hundred dollars, depending on the fixtures and how many are swapped out.
Add open shelving: Zillow® research finds rental listings with open shelving get 36% more saves per day on Zillow Rentals than similar units. With a national average cost of $275 for professional installation, open shelving allows renters to display personal mementos, art or books without adding bulky furniture that takes up valuable square footage.
Become a plant parent: Plants can improve a home’s air quality and boost a renter’s mental and physical health. A small herb garden is great for a home chef, a hanging eucalyptus plant can turn a shower into a spa, and succulents or cacti can add low-maintenance greenery.
For outdoor spaces, a patio garden can boost a rental’s daily views by 24.2% on Zillow Rentals. No patio? Try window or railing boxes to add color. Thumbtack finds the average national cost for a window box is $100-$150 for professional installation and $15-$900 for materials, depending on the type purchased.
Paint a room or add an accent wall: Landlords commonly allow renters to paint their walls if they agree to paint it back before they move out. The right color can make a dramatic impact and boost value. Darker hues are now preferred over white walls, according to Zillow’s latest research on paint colors.
“Gen Z shows an inclination towards bold, dark colors, which is a departure from more traditional color schemes,” said Rafael Rodriguez, a Thumbtack Pro and owner of Dambrak Painting. “Unlike previous generations that commonly use semi-gloss white for trim and flat white for ceilings, many Gen Z renters opt to paint both walls and trim in the same, often dark color, and ceilings in varied shades of off-white or other colors, creating a more cohesive look.”
Interior painting requests are up 18% year-over-year on Thumbtack. The national average cost to paint a room is $324-$1,620. Homes with higher ceilings and bigger walls will typically cost more to paint, leading many renters to opt for accent walls instead. Painting of any kind can pay off. Fresh paint helps a rental listing get 14% more saves and 17% more shares per day on Zillow Rentals.
Upgrade lighting: New lighting fixtures can instantly change the mood of a space and save money. LED bulbs and fixtures are up to 90% more efficient.
App-controlled smart lights can change color and brightness based on the time of day. Smart lights can boost daily saves by 22% and daily shares by 35% on Zillow Rentals. Thumbtack finds the average cost for lighting installation is about $150 but depends on the number and type of fixtures installed.
Hang Mirrors: Wavy, circular, and arched mirrors are on-trend, and they make a room feel bigger and brighter. Hanging a mirror is a relatively easy DIY project, and savvy shoppers may be able to snag a great vintage find for less than $100. For a more dramatic effect that visually expands a space, consider a mirrored wall. Rental homes with a mirrored wall get an additional 10% more saves and shares per day on Zillow Rentals.
Embrace peel-and-stick: Renters have embraced temporary wallpaper for a custom look without the commitment. On Thumbtack, wallpaper installations are up 10.1% year-over-year. Peel-and-stick wallpaper is generally more expensive than paint and can be tricky to apply. Hire a pro and expect to shell out $300 to $450 on average for installation.
Keep in mind, peel-and-stick isn’t just for walls anymore. Temporary backsplash applications are trending along with adhesive floor tiles or stickers.
“We’re seeing Gen Z take advantage of renter-friendly improvements to make their space uniquely their own – whether it’s through bold lighting upgrades, finishes or eclectic decor,” said Morgan Olsen, Design Expert at Thumbtack. “Being a renter doesn’t mean you have to compromise on adding character to your space, and budget conscious options can still have a big impact on how your space feels and looks.”
SOURCE Zillow Group, Inc.
