Rental Property Amenities That Actually Pay for Themselves

Not every upgrade increases rent. Granite countertops in a C-class neighborhood? Waste of money. A washer/dryer in a unit without one? Pays for itself in 6 months.

The difference between a smart investment and a money pit comes down to one question: will this upgrade let me charge more rent than it costs?

Here's a data-backed ranking of rental property amenities by ROI — from the best investments to the ones you should skip.

How to Calculate Amenity ROI

Before we dive in, here's the formula:

ROI = (Monthly Rent Increase × 12) ÷ Total Cost × 100

If a $1,000 upgrade lets you charge $100 more per month:

• Annual gain: $1,200
• ROI: 120%
• Payback period: 10 months

Anything with a payback period under 24 months is a strong investment. Under 12 months is excellent.

Tier 1: Best ROI (Payback Under 12 Months)

In-Unit Washer/Dryer

Cost: $800–1,500 (stackable set) Rent increase: $75–150/month Payback: 5–10 months ROI: 120–225%

This is the single best amenity investment for most rental properties. In-unit laundry is the #1 most-requested feature among renters according to the National Multifamily Housing Council's annual survey. Every year. Without fail.

Installation options:

• Full-size side-by-side: Needs a laundry room or large closet with hookups
• Stackable: Fits in a closet — needs water, drain, and 240V outlet (or gas line)
• Ventless combo unit: No dryer vent needed, runs on standard 120V. Slower drying but works anywhere with water access

If your units have hookups but no machines, this is the easiest win in rental property investing. Even if you need to add hookups ($500–1,500 for plumbing), the math still works in most markets.

Fresh Paint and Flooring

Cost: $500–2,000 (paint) + $1,500–4,000 (LVP flooring) Rent increase: $50–150/month Payback: 10–20 months ROI: 60–150%

Outdated carpet and scuffed walls are the fastest way to lose tenants and justify below-market rent. Modern LVP flooring and neutral paint (warm gray, greige, or soft white) transform a unit.

Flooring specifics:

• Luxury vinyl plank (LVP): $2–5/sq ft installed. Waterproof, durable, pet-friendly
• Laminate: $1.50–4/sq ft. Budget option, less water-resistant
• Tile (kitchen/bath only): $3–8/sq ft. Permanent and premium-looking

Paint tips:

• Use Sherwin-Williams Agreeable Gray or Benjamin Moore Revere Pewter — both photograph well and appeal broadly
• Semi-gloss on trim (easy to clean)
• Eggshell on walls (hides imperfections)
• Budget $1.50–2.50/sq ft for professional painting

Smart Lock

Cost: $150–300 Rent increase: $15–30/month Payback: 5–10 months ROI: 120–240%

Smart locks (August, Yale, Schlage Encode) benefit both landlord and tenant:

• No rekeying between tenants (saves $100+ per turnover)
• Remote access for maintenance and showings
• Tenants love keyless entry
• Temporary codes for dog walkers, cleaners, guests

The rent increase is modest, but combined with the turnover savings, this is one of the highest-ROI upgrades available.

Ceiling Fans

Cost: $75–200 installed Rent increase: $15–25/month Payback: 3–8 months ROI: 150–400%

Cheap to install, universally appreciated. Ceiling fans reduce HVAC costs (relevant if you pay utilities), improve comfort, and look more finished than a bare light fixture. Install in bedrooms and living rooms at minimum.

Tier 2: Strong ROI (Payback 12–24 Months)

Kitchen Updates (Cosmetic)

Cost: $1,500–5,000 Rent increase: $75–200/month Payback: 10–24 months ROI: 50–120%

You don't need a full kitchen renovation. Cosmetic updates deliver 80% of the impact at 20% of the cost:

• Cabinet refacing or painting: $500–1,500. Dark or honey oak cabinets painted white or gray modernize the entire kitchen
• New hardware: $50–150. Brushed nickel or matte black pulls replace dated brass instantly
• Countertops: $500–2,000. Butcher block ($20–40/sq ft) or laminate that looks like quartz ($15–30/sq ft) are cost-effective
• Backsplash: $200–600. Peel-and-stick tile costs $3–5/sq ft and installs in an afternoon
• Faucet: $80–200. A modern single-handle faucet updates the whole sink area

Skip the $15,000 full remodel. Unless your kitchen is non-functional, cosmetic updates get you 90% of the rent bump.

Smart Thermostat

Cost: $100–250 Rent increase: $10–20/month Payback: 5–12 months ROI: 100–240%

Nest and Ecobee thermostats reduce energy costs by 10–15% (EPA data). If you pay utilities, the savings alone justify the cost. If tenants pay utilities, it's a selling point that justifies higher rent.

Bonus: remote temperature monitoring protects against pipe-freezing in cold climates and excessive AC use.

Video Doorbell

Cost: $100–250 Rent increase: $10–20/month Payback: 5–12 months ROI: 100–240%

Ring or Google Nest doorbells add security and convenience. Package theft prevention alone sells it for most tenants. In urban areas, this is increasingly expected rather than a luxury.

Dishwasher

Cost: $400–800 installed Rent increase: $30–60/month Payback: 7–16 months ROI: 75–180%

If your unit doesn't have a dishwasher, adding one is a strong play. It's a dealbreaker for many tenants — they'll pass on your listing entirely. A basic Whirlpool or GE dishwasher ($350–500) with installation runs $500–800 total.

You need an open cabinet bay, water supply, and electrical outlet under the counter. In most kitchens, this is a half-day job for a plumber/handyman.

USB Outlets and Updated Electrical

Cost: $50–150 (DIY) or $200–400 (electrician) Rent increase: $10–20/month Payback: 5–15 months ROI: 80–200%

Replace a few standard outlets with USB-C combo outlets ($15–25 each). It's a small detail that signals the property is modern and well-maintained. Focus on kitchen counter outlets, bedside outlets, and desk areas.

While you're at it, make sure the unit has adequate outlets and proper grounding. Old two-prong outlets in an older building scream "deferred maintenance" and turn away quality tenants.

Tier 3: Moderate ROI (Payback 24–48 Months)

Bathroom Updates

Cost: $1,000–4,000 Rent increase: $40–100/month Payback: 12–36 months ROI: 30–80%

Like kitchens, cosmetic updates beat full remodels:

• New vanity: $200–600. Modern floating vanities look high-end
• Mirror and lighting: $100–300. An LED-backlit mirror or modern light bar transforms the room
• Faucets and hardware: $100–200. Match the kitchen style
• Re-caulk and re-grout: $50–100 (DIY). Makes old tile look new
• Shower head: $30–80. A rain shower head is a low-cost luxury

Skip: Full tub-to-shower conversions ($3,000–8,000) unless the tub is damaged. The ROI rarely works in rental properties.

Outdoor Space Improvements

Cost: $500–3,000 Rent increase: $30–75/month Payback: 12–36 months ROI: 30–80%

Outdoor space became more valuable post-pandemic and the demand hasn't faded:

• String lights and a small patio set: $100–300. Transforms a bare patio
• Privacy screen or fencing: $200–800. Creates usable space from an exposed yard
• Raised garden beds: $100–300. Attracts tenants who garden (and they tend to be excellent tenants)
• Fire pit area: $100–500. Creates a social space that photographs well for listings

EV Charging

Cost: $500–2,000 (Level 2 charger + installation) Rent increase: $30–75/month Payback: 12–36 months ROI: 30–100%

EV ownership is growing 25% year-over-year. In urban areas and higher-end markets, an EV charger is a legitimate differentiator. Many EV owners will pay a premium just to charge at home instead of hunting for public chargers.

Monetization options:

• Include in rent as a premium amenity
• Charge per kWh above your cost ($.15–.25/kWh markup)
• Use a smart charger (ChargePoint, JuiceBox) that tracks usage and bills tenants directly

Tier 4: Low ROI (Usually Not Worth It for Rentals)

High-End Countertops (Granite/Quartz)

Cost: $2,000–5,000 Rent increase: $25–50/month Payback: 40–100+ months ROI: 10–30%

Granite and quartz look great but rarely justify the cost in rental properties. Tenants appreciate them but won't pay proportionally more. Laminate countertops that look like stone ($15–30/sq ft) deliver 80% of the visual impact at 20% of the cost.

Exception: If you're competing in a high-end market where every comparable property has stone countertops, you need them to stay competitive. But you're not "adding value" — you're meeting baseline expectations.

Stainless Steel Appliance Packages

Cost: $2,000–4,000 (full set) Rent increase: $25–50/month Payback: 40–80+ months ROI: 10–25%

Stainless steel is expected in A-class and B+ properties. In B and C class, matching black or white appliances are fine. Don't replace working appliances for cosmetic reasons — replace them when they fail, and upgrade at that point.

Hardwood Floor Refinishing

Cost: $3–8/sq ft ($2,000–6,000 for a full unit) Rent increase: $30–75/month Payback: 24–60 months ROI: 15–40%

Real hardwood is beautiful but impractical for rentals. It scratches, dents, needs periodic refinishing, and is expensive to repair. LVP that looks like hardwood costs less, lasts longer in rental conditions, and is easier to replace.

If you have existing hardwood in good condition, keep it. If it needs refinishing, consider covering it with LVP instead — it's reversible and protects the wood underneath.

Swimming Pool

Cost: $20,000–50,000 (install) + $3,000–5,000/year (maintenance) Rent increase: $100–200/month Payback: Never (at residential scale) ROI: Negative in most cases

Pools are a liability, not an asset, for most rental properties. Insurance costs increase $500–1,500/year, maintenance is constant, and they create safety and legal exposure. The rent premium doesn't cover ongoing costs.

Exception: Multifamily buildings (20+ units) where the pool cost spreads across many tenants and serves as a competitive amenity.

Matching Upgrades to Your Property Class

Not every upgrade makes sense everywhere. Match your improvements to your market:

A-Class Properties ($2,000+/month)

Tenants expect modern finishes. Focus on:

• Smart home package (lock, thermostat, doorbell)
• Quartz countertops and quality fixtures
• In-unit laundry (non-negotiable)
• EV charging
• High-end LVP or maintained hardwood

B-Class Properties ($1,200–2,000/month)

Best ROI category. Tenants notice upgrades and will pay for them:

• In-unit washer/dryer (biggest win)
• Kitchen cosmetic refresh
• LVP flooring
• Smart lock
• Ceiling fans
• Dishwasher (if missing)

C-Class Properties ($800–1,200/month)

Focus on functional upgrades over cosmetic ones:

• Working appliances (replace broken ones)
• Clean paint and decent flooring
• Adequate lighting and outlets
• Laundry access (shared is fine)
• Basic security (deadbolts, exterior lighting)

Don't over-improve C-class properties. Your tenants prioritize affordability. A granite countertop won't increase rent in this market — a working dishwasher might.

The 1% Rule for Renovations

A useful rule of thumb: any upgrade should increase monthly rent by at least 1% of its cost.

• $1,000 upgrade → must add at least $10/month
• $5,000 upgrade → must add at least $50/month
• $10,000 upgrade → must add at least $100/month

If an upgrade can't clear this bar, it's not worth doing purely for income purposes. (Maintenance and code compliance upgrades are different — those protect your investment regardless of rent impact.)

Upgrades That Reduce Costs (Indirect ROI)

Some improvements don't increase rent but reduce expenses:

LED lighting throughout: Saves $50–100/year on electricity (if you pay utilities). Bulbs last 10–15 years. Total cost: $50–100 for a full unit.

Low-flow fixtures: Saves $100–200/year on water. A $30 showerhead and $10 faucet aerators pay for themselves in 2–3 months.

Insulation and weatherstripping: Saves $200–500/year on heating/cooling. Cost varies widely. Focus on attic insulation and window seals first.

Tankless water heater: Saves $100–200/year on energy. Cost: $1,500–3,000 installed. Long payback, but also increases property value and reduces maintenance.

FAQs

What's the single best upgrade for a rental property?

In-unit washer/dryer. It's the most requested amenity, commands the highest rent premium relative to cost, and pays for itself in under a year. If your units don't have laundry, start here.

Should I upgrade my rental between tenants or while occupied?

Between tenants. You avoid disrupting the current tenant, can do multiple upgrades at once, and can immediately list at the higher rent. The only exception is emergencies and maintenance that can't wait.

How do I know if my market supports higher rent after upgrades?

Check comparable listings on Zillow and Apartments.com. Filter for units with the amenity you're considering (e.g., "in-unit laundry") and compare their rent to similar units without it. The difference tells you what the market will pay.

Is it worth upgrading a property I'm planning to sell?

Focus on cosmetic updates that boost appraised value: paint, flooring, kitchen refresh, and curb appeal. Skip smart home tech and amenity additions — buyers don't pay a premium for a $200 smart lock. The exception is adding a washer/dryer, which increases both rental income and sale price.

How much should I spend on upgrades per unit per year?

Budget 10–15% of annual rental income for maintenance and improvements combined. On a $1,500/month unit ($18,000/year), that's $1,800–2,700. Prioritize upgrades with the highest ROI first, then move down the list as budget allows.

Do amenities affect tenant quality?

Yes. Better amenities attract tenants with higher incomes and better credit. They also reduce turnover. A well-maintained property with modern amenities attracts tenants who respect the space — creating a positive cycle of lower maintenance costs and longer tenancies.

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At HonestCasa, we help landlords invest in upgrades that actually pay off. No guesswork — just data on what works and what doesn't.

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