Which type of flooring should real estate investors install in their rental properties? Well, the answers come down to a few factors, mostly along the lines of cost, durability, looks, and care and maintenance. After all, getting the most out of a real estate investment means making smart choices and saving money when and where you can. But, it also means using products that will provide a strong return and those might not always be the cheapest options. So, let’s take a look at the best types of flooring products property investors can choose for their rentals that will last longer than just one tenant.
Types of Flooring Investors should Put in a Rental Property that Will Last Longer than Just One Tenant
The fact of the matter is, there are a number of flooring options available. And, a good number of them deliver on aesthetics, longevity, minimal care, and design enhancement. Trouble is, many of these come at a significant cost and that alone may make some products cost-prohibitive or deliver a poor return.
Durable but Inexpensive Flooring Products that Work Well for Rentals
When it comes to rental properties, durability, and low cost are often top priorities for landlords. Here are some types of flooring that are both durable and budget-friendly:
- Luxury vinyl plank (LVP): LVP is a synthetic flooring material that mimics the look of hardwood or tile. It is highly durable, resistant to scratches and water damage, and easy to clean. LVP is also relatively low-cost compared to hardwood or tile, making it a popular choice for rental properties.
- Laminate flooring: Like LVP, laminate flooring is a synthetic material that mimics the look of hardwood or tile. It is highly durable, easy to clean, and relatively low-cost. While laminate flooring is not as water-resistant as LVP, it is still a good option for areas that do not see a lot of moisture.
- Porcelain tile: Porcelain tile is a highly durable flooring material that can withstand heavy foot traffic and is resistant to water damage. While it is generally more expensive than LVP or laminate, it can be a good choice for rental properties in areas with high humidity and/or frequent spills.
- Concrete: While it may not be the most visually appealing option, concrete flooring is highly durable and low-cost. It can be stained or painted to create a more visually appealing finish and is easy to clean and maintain. Concrete can be a good choice for rental properties in areas with high humidity or frequent spills. But, most property investors avoid concrete because it lacks aesthetic qualities and isn’t as inviting as other types of flooring, which provide a more homey feel.
When choosing flooring for a rental property, it’s important to consider factors like durability, cost, and ease of maintenance. By choosing a durable, low-cost flooring option, landlords can save money in the long run by reducing the need for frequent repairs and replacements.
Best Rental Home Flooring Care Practices to Use After Tenants Move Out
Caring for the flooring in a rental property after a tenant moves out is important to ensure that it is in good condition for the next tenant. Here are some steps you can take to care of the flooring after a tenant moves out:
- Inspect the flooring: Before doing anything else, inspect the flooring to assess its condition. Look for any signs of damage, such as scratches, stains, or water damage. Take note of any areas that need to be repaired or replaced.
- Vacuum and sweep: Start by vacuuming and sweeping the flooring to remove any dirt and debris. This will make it easier to assess the condition of the flooring and to clean it.
- Clean the flooring: Depending on the type of flooring, you may need to use different cleaning methods to remove dirt and stains. For hardwood or laminate flooring, use a hardwood cleaner to remove dirt and stains. For carpet, consider using a professional carpet cleaning service to deep-clean the carpet and remove any stains. For tile or LVP flooring, use a damp mop with a mild cleaner to remove dirt and stains.
- Repair any damage: If you identified any areas of damage during your inspection, make any necessary repairs. For example, you may need to replace a damaged plank of laminate flooring, repair a scratch in hardwood flooring, or patch a section of carpet.
- Consider refinishing or replacing the flooring: If the flooring is in particularly bad condition, you may want to consider refinishing or replacing it. This can be a more expensive option, but it may be necessary to ensure that the flooring is in good condition for the next tenant.
By following these steps, you can help ensure that the flooring in your rental property is in good condition for the next tenant. It’s important to take care of the flooring between tenants to maintain its appearance and prolong its lifespan.
Rental Property Flooring Replacement Costs and Considerations
The cost to replace flooring in a rental property can vary depending on a variety of factors, including the type of flooring, the size of the rental property, and the cost of labor in your area. Here are some general cost estimates for replacing flooring in a rental property:
- Carpet: The cost to replace carpet in a rental property can range from $2 to $10 per square foot, depending on the quality of the carpet and the cost of labor in your area.
- Luxury Vinyl Plank (LVP) or Laminate Flooring: The cost to replace LVP or laminate flooring in a rental property can range from $2 to $7 per square foot, depending on the quality of the flooring and the cost of labor in your city.
- Hardwood Flooring: The cost to replace hardwood flooring in a rental property can range from $8 to $14 per square foot, depending on the quality of the flooring and the cost of labor in your region.
- Tile Flooring: The cost to replace tile flooring in a rental property can range from $5 to $15 per square foot, depending on the type of tile and the cost of labor in your location.
Keep in mind that these are just general estimates and the actual cost of replacing flooring in your rental property may vary depending on your specific circumstances. It’s always a good idea to get multiple quotes from reputable flooring contractors to ensure that you are getting a fair price for the work. Additionally, you may be able to save money on the cost of flooring by purchasing materials in bulk or by taking advantage of sales or discounts offered by flooring retailers.
If you’re a real estate investor and need to replace the flooring in one or more rentals, you can speak with one of our knowledgeable professionals about the best choices for investment properties that will meet your budget and deliver the longest life.