Small Changes, Big Impact: 4 Budget-Friendly Upgrades Tenants Love

Smart Rental Moves: A 4-Part Series for Homeowners (Part 1)

Think your rental property needs a full remodel to attract great tenants? Think again.

If you’re a homeowner or investor in Billings, MT, you’ve probably asked yourself some version of this question:

“How do I make my rental stand out — without spending tens of thousands of dollars?”

We hear it every week at Premier Property Management. And our answer is always the same:

You don’t need a full kitchen renovation or a brand-new roof to increase your rent potential.

In most cases, small, smart upgrades deliver the best return on investment.
 And in a shifting rental market like Billings, staying competitive with cosmetic updates is one of the smartest moves you can make.

Sarah’s Story: How She Turned $1,200 Into $3,000 in Returns

Let’s bring this to life with a real example.

Sarah owned a two-bedroom, one-bath rental property in the Billings Heights.
She had reliable tenants in the past, but this time around, things were different.
The market had shifted. Expectations had changed. And her 2000s-style unit just wasn’t cutting it anymore.

After 45 days of no applications, Sarah reached out to us in frustration. We toured the unit and gave her four cost-effective upgrade recommendations:

• Paint

• Flooring

• Lighting

• Minor kitchen/bath updates

Sarah did the work herself over two weekends and spent just under $1,200.

Result?

The property was re-listed and had 3 qualified applicants in 48 hours.
Not only that, but she was able to increase rent by $150/month.

Over the course of one year, that added $1,800 in income.
But the real win?
Her vacancy dropped from 45 days to just 2 — saving her $1,200+ in lost income.

Her total ROI in year one? $3,000+.

Let’s break down exactly what she did — and how you can replicate the same success.

Upgrade 1: Paint & Lighting — The Easy First Win

Fresh, Neutral Paint

Old paint = old property.
 But a fresh coat? It instantly modernizes a unit. We recommend light grays, taupes, or greige tones — warm enough to feel cozy, light enough to reflect natural light.

Why it works:

• Makes the space feel newer

• Photographs better for online listings

• Attracts a wider range of tenants

Units with new paint averaged 38% more listing views and leased 9 days faster.

LED & Daylight Lighting

Most landlords overlook lighting — but it's one of the fastest ways to change how a space feels.

Consider:

• Swapping yellow-toned bulbs for daylight LEDs

• Installing inexpensive modern fixtures

• Using dimmable options for versatility

These small changes can add perceived value — even if the square footage stays the same.

Tip: A $200 lighting update can pay for itself in just 2 months of higher rent.

The Proof Is in the Data

We analyzed over 200 rental units across the Billings area — comparing properties that had basic cosmetic upgrades versus those that didn’t.

Here’s what we found:          

Properties with 3+ simple upgrades averaged:

• $125–$200/month more in rent

• Leased 30–40% faster

• Kept tenants nearly a full year longer

Upgrade 2: Durable Flooring — Looks Like Luxury, Priced for ROI

Replace Carpet with LVP

Luxury Vinyl Plank is one of the best flooring options for rentals.

Why owners love it:

• Affordable and stylish

• Water-resistant

• Easy to clean

• Can replace single planks instead of full rooms

Why tenants love it:

• Pet- and kid-friendly

• Looks like hardwood without the upkeep

LVP reduces average flooring maintenance requests by 47% in our managed properties.

Sarah’s Example:
 She pulled carpet from her living room and laid wood-look LVP for under $3/sq ft. It instantly elevated her rental and helped her justify a $150 rent bump.

Upgrade 3: Kitchen & Bath Refreshes (Without the Remodel Price Tag)

Kitchens and bathrooms sell rentals.
But they also scare owners into thinking they need to spend $10K+ to compete. Not true.

Easy Kitchen Upgrades

• Swap cabinet pulls and knobs (brushed nickel, matte black = tenant favorites)

• Add a peel-and-stick backsplash

• Replace the kitchen faucet with a modern pull-down style

• Change outlet covers to crisp white (especially if the walls are freshly painted)

All of the above can be done for under $200 — and they make a big visual impact.

Budget-Friendly Bathroom Fixes

• Replace flat mirrors with framed ones

• Install a handheld or rain-style showerhead

• Update vanity lighting

• Clean or re-caulk around tubs and sinks

Why it matters:

• Bathrooms often reflect overall cleanliness and care

• Clean grout and modern lighting = “well-maintained” in a tenant’s eyes

Properties that made these changes saw a 22% drop in vacancy rates in the following 12 months.

Upgrade 4: Curb Appeal — Because First Impressions Matter

Even if you’re managing a fourplex or an apartment rental in Billings, tenants start forming opinions from the second they drive up.

Low-Cost Ways to Improve Exterior Appeal

• Mulch around garden beds or walkways

• Paint or power-wash the front door

• Add solar lights along entry paths

• Place a seasonal potted plant by the entry

Listings with strong curb appeal receive 25% more photo engagement online.

Addressing Owner Objections: “But I Don’t Want to Over-Upgrade”

Valid concern — and one we get a lot.

Here’s the rule:

Only upgrade to the level of the neighborhood or rental class.

For example:

• A high-end downtown loft might warrant quartz counters

• A working-class duplex may do just fine with new laminate and fresh hardware

What Happens When You Over-Upgrade?

Here are a few risks we’ve seen firsthand when owners over-improve their rentals:

• Overpricing: You may not be able to raise the rent enough to recoup the cost of the upgrade.

• Longer vacancies: A high-end unit in a modest neighborhood can sit empty longer because renters aren’t looking for luxury at that location or price point.

• Higher expectations: Once you start adding expensive finishes, tenants expect everything to be high-end — which can lead to more maintenance requests and less forgiveness for normal wear and tear.

• Insurance and replacement costs: Premium upgrades often come with premium maintenance and replacement costs when things go wrong.

Spend Smarter, Not More

At Premier, we don’t just recommend upgrades because they “look nice.”
 We use actual data — rent comps, tenant feedback, maintenance reports, and leasing timelines — to help you answer questions like:

• Will this upgrade allow me to increase rent in this area?

• Is this improvement likely to reduce maintenance calls or turnover?

• Will tenants in this neighborhood value and care for this upgrade?

• Could this change reduce time on market or improve tenant retention?

If the answer isn’t yes to at least one of those questions — it’s probably not a wise upgrade.

Examples of Smart, Tiered Upgrades by Rental Class:             

What If I’m Not Handy? (Or Just Don’t Want to Do the Work Myself?)

Let’s be real:
Not every property owner has the time, tools, or desire to DIY their way through paint jobs, flooring installs, or light fixture swaps.

And that’s okay.

Owning a rental doesn’t mean you need to be a contractor — or even particularly handy.
 It just means you need the right team.

At Premier Property Management, we’ve built a curated network of reliable local vendors who specialize in rental-friendly upgrades and know exactly how to work in between turnovers.

Here’s What That Means for You:

They Understand the Rental Market

Our vendors aren’t just general contractors. They:

• Know which materials hold up best between tenants

• Understand how to balance cost, quality, and ROI

• Are used to working in occupied or quickly turning units

They don’t push unnecessary upgrades or luxury finishes that don’t make sense in rental housing. They focus on value-driven improvements — the kind that help you earn more without overspending.

They Offer Fair, Competitive Pricing

Because we send these vendors consistent business, we’ve negotiated competitive rates — and they’re often faster and more cost-effective than trying to hire someone one-off from an online listing.

No markup. No bait-and-switch. No disappearing halfway through the job.

Just solid, honest work that gets done right the first time.

They’re Available Between Tenants

One of the hardest parts of managing a rental yourself is timing.

You finally get a move-out date, and now you have 3–5 days to repaint, swap flooring, clean, and re-list.
 Finding available contractors in that window? Nearly impossible — unless you already have those relationships.

We do.

We work with vendors who:

• Prioritize our clients' properties

• Can be scheduled in advance or with short notice

• Understand fast-turn rental timelines and show up on time

Prefer to Be Hands-Off? We’ve Got You.

If you’d rather not be the middleman at all, we can handle the entire coordination process for you:

• We get estimates

• Approve scopes of work

• Schedule and oversee the job

• Check final quality

• Upload photos and updates to your owner portal

You don’t have to lift a paintbrush — or even pick up the phone.
 We’ll do it all, and you’ll see the results.

What This Looks Like in Practice

Here’s how it typically works with our owners:

• You let us know you’d like to improve the flooring, kitchen, or curb appeal.

• We send you 2–3 affordable options (based on your budget and goals).

• You approve your choice — and we take it from there.

• Once complete, we re-list your unit with updated marketing, pricing, and photos — and track the results.

It’s that simple.

You Stay the Owner. We Handle the Heavy Lifting.

We believe in keeping you in control — but never overwhelmed.

You’ll always have the final say, but we’re here to offer:

• Recommendations backed by performance data

• Vendor coordination you can trust

• Peace of mind that your property is being upgraded professionally — and efficiently

Whether you're across town or across the country, we’ll make sure your property is show-ready, well-maintained, and positioned to perform in the Billings rental market.

The Bottom Line

Upgrading smartly means aligning with what tenants expect and value in your neighborhood — not with what HGTV says looks good.

At Premier Property Management, our job is to help you avoid emotional or reactive spending — and focus on improvements that drive performance and long-term returns.

We treat your rental like the investment it is — and help you improve it with intention.

Want help identifying the right upgrade level for your specific rental?
 📞 Call us at 406-540-8040 or click here to schedule a walkthrough.

We’ll walk the property with you and create a prioritized, budget-conscious plan tailored to your property type, location, and investment goals.