Appealing to a wide variety of potential renters is key to the success of landlords. When considering a remodel or design change, it is important to realize that not everything that works in your own home is ideal for a rental. In fact, modern design trends can prove either profitable or a disaster in a rental. So, join us below as we look at some of 2021’s top decorating trends and whether they can make your rental more appealing to a wider market.
Top Design Trends Projected for 2021
From year to year, landlords across the country look to the latest design trends as a competitive advantage in an increasingly more competitive market. However, in rentals, personal style takes a backseat to those design items that offer a broad appeal. So, take a look at some of the top trends below and how they can add value to your rental property.
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Grey is Here to Stay
Hands down, the color of the year in 2020 is not going anywhere anytime soon. Grey comes in various shades and tones, but for rental properties, stick to a cool version of this calming neutral. It provides an ideal blank slate foundation for a renter to come in and accent with their own personal belongings and style. Just be sure to choose the best paint for a rental property.
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Ditch the Dark Wood
Thanks to Scandinavian influences, light wood is finding its place at the top of 2021’s interior design trends. Light wood’s natural aesthetic appeals to the modern idea of utilizing raw or more environmentally friendly materials. Light wood in its natural state brightens up any space while hiding many of the scuffs and scratches that would be glaringly obvious on darker finishes, making it a perfect choice for renters.
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Rustic Modern
Blending the old with the new is not a new concept, but as the color gray, it is one that will likely stick around. The important thing here is not to overdo it. Some ideas for rental properties may be using an old carved wooden door in an otherwise modern space or using industrial pipe and reclaimed wood to create custom shelving. The key here is to blend the styles to create a warm living space with some distinct characteristics.
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Experiment with Texture
Nowadays, modern materials such as wood/composite, removable wallpaper, and even fabric can add texture and dimension to otherwise boring walls. However, when using this technique in rental homes, be selective. Stick to materials that are still a neutral color palette that compliments the rest of the living area and have fun with a few accent walls. Textured walls add both interest and a luxurious feel to a space for a modest investment depending on the material you choose.
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Sustainability
Environmentally friendly materials do not just stop at reclaimed wood or bamboo flooring. Thanks to advanced processes, reused materials such as recycled bioplastics are making entry into the home décor arena. At the moment, this trend is geared toward accent pieces and furniture, but 2021 will see these areas expand. So, for rentals, consider adding some sustainable furniture that provides universal storage. Looking for a larger project? Check out IKEA, which now offers stylish cabinet fronts made from recycled bottles!
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Bring the Outside In
Natural elements have always had a place in home design, but 2021 sees a more significant desire to blend indoors with outside. This can be interpreted in several ways, but for rental homes, let’s focus on the following:
- Use natural and organic materials such as raw wood
- Maximize natural light
- Enclose a patio or porch to create a sunroom
- Consider providing a patio set for tenant use
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Mixing Up Metal
Mixing different types of metal finishes with wood and stone accents is a hugely popular trend for 2021. The key to this, like many of the previous trends, is balance. Too much metal and a space can feel cold and unwelcome, but landlords can create a warm and contemporary space by blending materials.
Decorating Trends Landlords Should Ignore in 2021
As we mentioned, not every design trend is suited for rental properties. Below are just a couple of examples of interior ideas best suited to a homeowner and not necessarily a landlord.
Bring on the Navy
Darker colors have been present on the interior design radar for the past several years, and next year, navy is all the rage. This deep blue color, hailed as the new black, makes a great statement for an accent wall or go bold and do a whole room. However, in a rental where the goal is to appeal to as many potential tenants as possible, sticking to lighter and a more neutral palette is better.
Luxurious Statements
These decorating trends focus on a minimalist approach while incorporating handcrafted luxury items and finishes. As beautiful as this is, it is not ideal for a rental property. In an income property, the focus is on durability and value for the renter. Landlords appreciate low maintenance materials that offer a good bang for your buck. When deciding for or against more luxurious finishes, consider whether the local market supports these choices. If it is not something you will recoup in the monthly rental rate, it is not the ideal choice.
Home Decorating Trends Expected to Say Goodbye in 2021
Keeping up with the latest design trends is as much about what is out as it is what is in. So, to help you stay on top of what aesthetic choices have fallen out of favor, read on below.
Shabby Chic is Now Just Shabby
Millennials, in particular, appreciate a more minimalistic style. The more contemporary bohemian style has replaced shabby chic with an updated mix of textures, raw wood, and metal materials that speak to a “less is more” mindset.
Save Chalkboard Walls for the Classroom
As convenient as the chalkboard wall trend may have been, it is no longer as interesting and desirable as it once was. Instead, this fun design feature has been replaced by a warmer and equally useful option, corkboard.
Final Thoughts
No matter how your rental home is decorated, do not lose sight of your target market. Take a look at comparable homes on the market and see how your investment property stacks up. Could your property use a repaint? Consider a cool gray or warm neutral. No renter ever said they had too much storage, so consider adding shelving that mixes reclaimed wood with contemporary metal for some unique interest.
Unsure if your renovation or design ideas will be profitable? Bay Property Management Group offers full-service management company in York, PA and throughout Pennsylvania, Maryland, Northern Virginia, and Washington DC. We work with investment property owners to get the most return on investment for their homes. Our team of professionals can evaluate your property and suggest changes that will bring your listing in line with current decorating trends that attract renters. Give us a call today for a free, no-obligation consultation.