Top 10 Apartment Renovation Ideas for 2026: Maximize ROI with Future-Proof Tech and Premium Rent
Apartment Renos Increase Rents and Occupancy Rates
Suppose your goal is to renovate your apartment units to increase rents and occupancy rates. In this case, we have found it essential first to understand the target market and the typical renter in your area.
The typical renter in the United States is under the age of 39 and has never been married. 38% of all renters live alone, 1/3 have children under 18, and 80% have pets in their rentals.
After we have identified your typical renter, our goal is to identify the specific large and small apartment ideas that attract those new tenants and justify higher rental rates. Here are some top apartment renovations that can potentially increase your rents:
1) Kitchen Upgrades
Kitchens are the #1 factor. High-quality finishes justify substantial rent increases.
The kitchen is one of the first areas a potential renter looks at when viewing an apartment for the first time. We spend a lot of time in the kitchen, both cooking and entertaining our guests, so renovating it will affect rental value. Installing new countertops, energy-efficient appliances, stylish fixtures, and modern cabinetry will affect how renters view your apartment.
Since new cabinets can be expensive, we often utilize Quickkit cabinet refacing to transform and modernize outdated cabinets. A functional and aesthetically pleasing kitchen usually appeals to tenants and justifies higher rents, especially if the materials used are of higher quality.
2) Bathroom Remodeling
The bathroom is the first and last room we use every day, so an updated bathroom is important and will enhance the rental value. Consider replacing old fixtures, installing a new bathtub or shower, adding attractive tiling or flooring, and upgrading the vanity.
Refacing cabinets provides a modern look for a fraction of the cost of total replacement.
As with the kitchen, a complete bathroom vanity replacement can be expensive, so we often use cabinet refacing instead. A clean and modern bathroom is often a priority for tenants.
3) Flooring Improvements
Replacing worn-out or outdated flooring can significantly enhance an apartment’s overall appeal. Consider installing hardwood floors, laminate flooring such as luxury vinyl planks (LVP) or luxury vinyl tile (LVT), polyurea flooring, or ceramic or porcelain floor tile. High-quality and durable flooring can justify higher rents and attract tenants seeking a more upscale living experience.
4) Lighting Enhancements
Adequate lighting is crucial for creating a welcoming atmosphere, but renters also want attractive fixtures to accent their apartments. Installing modern light fixtures, adding recessed lighting, or maximizing natural light with larger windows can make the apartment feel brighter and more desirable.
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5) In-Unit Laundry
We have found that adding in-unit laundry facilities is a significant perk that many tenants appreciate and is often the deal maker for higher rents and a new lease. If space allows, consider installing a washer and dryer in each unit. The convenience and time-saving aspect of in-unit laundry, especially for a family with young children, can make your property stand out and justify higher rental rates.
6) Smart Home Features: Driving Renter Premium and Owner Savings
- Smart Locks/Keyless Entry: Provide security and convenience for tenants, while enabling owners to facilitate self-guided tours and grant maintenance access remotely, dramatically lowering labor costs.
- Smart Thermostats: Tenants appreciate utility savings (often 10-23% reductions in energy costs), and property managers gain control over vacant-unit temperatures, ensuring lower operating expenses.
- Smart Lighting and Leak Detection: These features attract tech-savvy tenants and families who want to monitor their apartments while away. Tenants in these demographics are consistently willing to pay a premium for convenience and automation.
7) Prioritizing Connectivity and Remote Work Support
- High-Speed Internet Infrastructure: Pre-installing reliable, high-speed, community-wide Wi-Fi or fiber-optic access is essential. Renters now require guaranteed high bandwidth for video calls and cloud-based work, viewing excellent connectivity as a necessity, not just an amenity.
- Dedicated Work Spaces: Renovating underutilized common areas (such as old clubhouses or movie theaters, as mentioned in point 10) into flexible, functional coworking lounges or business centers is a high-value renovation. Provide comfortable seating, reliable power outlets, and privacy pods to attract high-earning tenants who work from home. The convenience of a professional workspace outside their unit can easily justify a higher monthly rent.
8) Additional Storage
We are a society that collects stuff, so the lack of storage space can be a common concern for many renters. Consider adding built-in closets, shelving units, or additional storage options within the apartment.
If property space allows, consider building on-site self-storage units to provide both convenience and additional revenue. Providing ample storage solutions can make your property more appealing and potentially justify higher rents.
Attractive outdoor amenities, like a grilling station, extend living space and boost property appeal.
9) Outdoor Amenities
Enhancing outdoor spaces can significantly increase an apartment’s rental value. Consider adding communal outdoor areas, such as a rooftop terrace, garden, or patio with seating. Many apartment communities have found value in common area grilling stations and outdoor fireplaces with pergolas. Outdoor amenities can provide tenants with additional living space and a desirable place to relax, socialize, or entertain.
10) Indoor Amenity & Fitness Centers
Several of our clients recognized that their renters were not using facilities such as the clubhouse, movie theater, or the outdated fitness center. By renovating these underutilized areas and providing modern amenities with their target renter in mind, apartment complexes have seen renewed enthusiasm, leading to higher rents and longer leases.
11) Fresh Paint and Wall Treatments
A fresh coat of paint is the most economical of all the suggested upgrades and can instantly refresh the apartment and make it more appealing. Choose neutral colors that appeal to a wider range of potential tenants and consider adding accent walls or using wallpaper to create visual interest.
When considering apartment decorating ideas, it is important to remember that the scope and scale of renovations should align with your target market and local rental rates. Research potential tenants’ preferences and assess the potential return on investment before undertaking any major renovations.
At Omega Contracting, we have years of experience helping apartment communities identify and execute apartment renovations that will increase rents and occupancy rates. Contact us today for a no-obligation consultation.
Apartment Renovation ROI & Strategy FAQs
ROI & Pricing
Q: How much can I realistically increase the rent after completing these renovations?
A: Rent increases depend on your market and the scope of the upgrades. High-impact improvements, such as kitchen or bathroom updates, in-unit laundry, and smart features, often justify a 5% to 15% increase. Smart amenities alone commonly support a $30 to $50 monthly premium. Review comps for renovated units in your immediate area for accurate projections.
Q: Which apartment renovations offer the highest Return on Investment (ROI)?
A: The strongest ROI typically comes from upgrades that tenants value most. In-unit laundry, cost-effective kitchen and bathroom updates, and smart home features consistently produce fast, measurable returns because they directly improve daily living and operational efficiency.
Q: Should I do a complete renovation or focus on cosmetic upgrades?
A: Most properties benefit more from targeted cosmetic upgrades such as LVP flooring, cabinet refacing, and new fixtures. A complete renovation is usually only recommended when a unit is far below market expectations or is being repositioned into a higher-end category.
Logistics & Strategy
Q: Is it better to renovate a unit while it is occupied or vacant?
A: Renovating a vacant unit is strongly recommended. It reduces liability, avoids tenant disruption, and allows contractors to work faster and more efficiently. A clear renovation plan helps minimize downtime and vacancy days.
Q: How do I ensure my renovations appeal to the broadest possible tenant base?
A: Use neutral, timeless color palettes and choose durable, low-maintenance materials such as LVP flooring and quartz-style countertops. These finishes appeal to most renters and create a move-in-ready look without being overly customized.
Legal & Financial
Q: Do I need to obtain permits for these types of apartment renovations?
A: Many renovations require permits, especially structural changes, major plumbing, and electrical work. Always check with your local municipality before starting to ensure compliance and avoid delays.
Q: When is the legal time to raise the rent on an existing tenant after a renovation?
A: Rent increases can only take effect at lease renewal unless the lease specifically allows mid-term adjustments, which is uncommon. Follow your state and local notice requirements, usually 30 to 90 days.
