Given the costs to rent rooms in Colorado, it’s no wonder that many homeowners are converting their basements into rental property. Not only are those homeowners boosting their home’s value, but they’re also building a steady stream of rental income that will help pay the mortgage or pad the bank account! If you’re considering joining the Colorado landlord club, we’ve broken down 3 things to consider to make your remodeled basement “rental ready” so that you, too, can reap the rewards.
When planning to finish your basement as a livable space, it’s essential to consider how the area will be used and what kinds of materials will require the least maintenance. There are two categories of work with every basement remodel: Items inside the walls and items outside the walls. Items inside the wall include heating, ventilation, and air conditioning systems (HVAC); electrical for lights and outlets; and plumbing for faucets, laundry, toilets, and showers. Items outside the walls include flooring, cabinets, doors, baseboards, and other trim construction/finish carpentry items.
1. Electrical and Plumbing Systems
When deciding to make your basement rental ready, you first need to consider if you want tenants to require upstairs access to take showers, do laundry, cook, or wash dishes. Many basements are only finished with bedrooms, main spaces, cabinets, and half baths. That’s fine for boosting home value, but if you wish to minimize the appearance frequency of your tenants, then you’ll want to consider overall utility needs. It’s easier to get set up with the plumbing and electricity systems before walls are constructed!
2. Noise Reducing Upgrades
Walking around, watching TV, closing cabinets, and more… The day-to-day activities of peoples’ lives make noise! Solid-core doors and soft-close kitchen cabinets are two excellent ways to reduce any tenant’s noise footprint from impacting your quality of life. Installing a solid-core door between the basement and the main floor effectively insulates sound wave transmission, muffling noises made in the basement. Installing cabinets with soft-close hinge mechanisms allow drawers and cabinet doors to glide shut (noise-free) rather than clicking shut or being at the mercy of a slam. If you plan to make your basement rental ready, consider opting for solid-core doors and soft-close cabinetry.
3. Low Maintenance and Long-Life Materials
The living habits of different people can vary greatly, especially if they merely rent rather than own a property. The final item to consider when making your basement rental ready is the choice of flooring material. Floors receive a significant amount of traffic and typically experience the greatest level of depreciation and damage in any home space. Whether or not you’ve considered if you’ll allow tenants to have pets, we recommend that you opt for tile and vinyl plank flooring in the main areas. Carpet can be fine in the bedroom, but tiles and vinyl planks offer superior durability and cleanliness. Also, don’t forget to protect your walls from vacuum-clumsy renters and opt for tall baseboards!
We can answer any questions you may have, or help you complete the space with the “rental ready” touches. Typically, the basement contractor has a crew that tackles the systems, framing, and drywall. We tackle the project’s trim and finish carpentry aspects: Door installations, baseboard and casing installations, cabinet installations, and tile/vinyl floor installations.