Renovating an Apartment for Rental: Where to Invest and Where to Save
Volodymyr SydorenkoAugust 27, 2026
How to renovate an apartment for rent so it lets quickly and doesn't need constant spending: the target tenant, durable materials, kitchen and bathroom, furniture and appliances, backup power, budget and payback.
Renovating an Apartment for Rental: Where to Invest and Where to Save
Renovating for yourself and renovating for rent are two different projects. In the first, you express your own taste and plan for decades. In the second, you create a product for the market that must find a tenant quickly, withstand intensive use and pay for itself. Mistakes cost double: overspending lowers yield, while too cheap a renovation lowers the rent and the speed of letting. Here's how to find the balance.
Step 1. Define Your Target Tenant
The tenant profile determines everything, from layout to appliances.
- Students — budget materials, maximum durability, a workspace and fast internet.
- Young professionals — a modern neutral interior, a convenient kitchen, a work area and good lighting.
- Families with children — separate rooms, lots of storage, safe materials, a washing machine and dishwasher.
- Expats and executives — higher-end finishes, quality appliances, air conditioning and a central location.
- Short-term rentals — hotel-level service, surfaces that withstand frequent cleaning and quality textiles.
Analyze competitors' listings in your area on DOM.RIA and other portals: which apartments let fastest and what do they have in common?
Step 2. Principles of Renovating for Rent
- Neutrality. Light walls, natural shades and no bright accents that not everyone likes.
- Durability. Materials that withstand years of heavy use and cleaning.
- Repairability. The ability to replace a damaged element quickly and cheaply.
- Standardization. The same faucets, bulbs and paint in all rooms — easier to replace and buy.
- Functionality. Enough sockets, storage and good lighting.
Where to Invest
Utilities
New wiring and plumbing reduce emergency call-outs and the risk of flooding the neighbors. This is where you must not save. See apartment electrical wiring.
The Bathroom
Quality waterproofing, reliable faucets with ceramic cartridges, a wall-hung or compact toilet, and a shower instead of a bath in small apartments. Tenants pay special attention to the bathroom. More in bathroom renovation.
The Kitchen
Practical fronts (chipboard or laminate), an HPL or quartz worktop, a tiled or glass splashback, and basic built-in appliances: cooktop, oven, hood, fridge — and for families, a dishwasher. See kitchen renovation.
Flooring
SPC vinyl or class 33 laminate is the best choice: water- and scratch-resistant. Porcelain tiles in the hallway. Compare floors in our flooring guide.
Walls
Washable paint with a high scrub resistance class instead of wallpaper. A damaged area is easy to touch up rather than re-papering the whole wall. Keep spare paint labeled with the color code.
Backup Power
After mass power outages, apartments with backup solutions let faster and for more:
- a gas stove, or induction with a portable stove as backup;
- a power station for the router and lighting, or a circuit prepared for an inverter;
- a water heater of adequate size;
- a generator and shelter in the building — an important point in the listing.
Where You Can Save
- Designer features — complex ceilings, decorative plaster, illuminated niches.
- Expensive branded furniture — tenants rarely value brands but do value practicality.
- Luxury sanitaryware — mid-range products from reliable manufacturers last just as well.
- Lots of decor — tenants bring their own things.
- Natural materials that need care — solid wood, marble, oiled parquet.
Furniture and Appliances
A minimum set for long-term rental:
- a bed with a quality mattress (not something to skimp on);
- a wardrobe, ideally built-in to the ceiling;
- a kitchen with appliances;
- a washing machine;
- a dining table and chairs;
- a sofa in the living room;
- a workspace — a desk and comfortable chair;
- curtains or blinds;
- lighting in every zone.
Choose furniture with easy-care upholstery, metal or solid frames and resistant surfaces. For appliances — the mid-price segment with good repairability and service in your city.
Rental-Specific Renovation for Daily Lets
If you plan to rent by the day, the requirements differ from long-term rental:
- hotel-level cleanliness and textiles — several sets of bedding and towels, mattress protectors and easy-to-wash curtains;
- a keypad or smart lock — for contactless check-in;
- guest instructions — Wi-Fi, appliances, house rules, contacts;
- better sound insulation — guests keep different hours, and neighbor complaints are the main problem of daily rentals;
- surfaces that withstand frequent cleaning and chemicals — porcelain tiles, vinyl flooring, washable paints;
- a photogenic interior — one or two accents that stand out in the booking platform's photos;
- a kitchen kit — dishes, a coffee maker, basic spices.
Remember tourist tax and income tax — daily rental is effectively a business. More in rental income tax.
A Materials Cheat Sheet
- Walls — washable paint with scrub resistance class 1–2; in wet areas, paint with antifungal additives.
- Room floors — SPC or class 33 laminate with water-resistant joints.
- Hallway, bathroom and kitchen floors — porcelain tiles with an anti-slip surface.
- Splashback — tiles or tempered glass.
- Worktop — HPL or quartz composite.
- Kitchen fronts — chipboard or laminate, with profile handles that don't stick out.
- Doors — with an impact- and scratch-resistant finish and metal hardware.
- Grout — epoxy or cement with water-repellent additives in a dark shade.
- Lighting — LED fittings with standard, easy-to-buy bulbs.
- Faucets and sanitaryware — mid-range from well-known manufacturers with available spare parts.
Standardized materials make minor repairs between tenants easier: spare tiles, paint and hardware should be kept in a storage room or another place the owner can access.
Budget and Payback
Treat the renovation as an investment:
- compare the renovation cost with the increase in rent and reduced vacancy;
- payback for a rental renovation is usually several years;
- a refresh reserve — set aside part of the income for an update every 3–5 years.
Example
An unrenovated apartment rents for UAH 11,000 a month and takes two months to find a tenant. After a UAH 250,000 rental renovation, it rents for UAH 15,000 and finds a tenant in two weeks. The extra income is UAH 4,000 a month, or UAH 48,000 a year, plus reduced vacancy. The renovation pays off in about 4.5–5 years, and the apartment is worth more when sold. Calculate net income after tax using the method in rental income tax.
Timeline
Every month of renovation is a month without income. Streamline the process:
- plan the renovation in advance and choose materials that are in stock;
- choose standard solutions that don't need to be made to order;
- work with a trusted crew — see how to choose a renovation contractor;
- start advertising the apartment during the finishing stage.
Photos and Presentation
After the renovation, invest in professional photography. A neutral interior in quality photos gets far more responses. Add a floor plan and a description of the advantages: backup power, appliances, shelter, transport. How to write an effective listing is covered in how to rent out your apartment.
Document the Apartment's Condition
After the renovation, take detailed photos and video of every room and list the furniture and appliances with models and purchase dates. This is the basis for the handover report — see apartment lease agreement. Keep warranty cards and receipts — you'll need them for appliance repairs.
Common Mistakes
- Renovating "for yourself" with expensive custom solutions.
- Wallpaper instead of washable paint.
- Cheap laminate in the kitchen and hallway.
- Too few sockets and no workspace.
- No washing machine.
- Dark colors and heavy curtains.
- A cheap mattress — the first thing tenants complain about.
- Ignoring backup power amid outages.
- Glossy surfaces that show every fingerprint and scratch.
- No stock of materials for minor repairs between tenants.
Frequently Asked Questions
Is it worth renovating if the apartment already lets? If the rent is below market and vacancies are long — yes. If the apartment is in good condition, a refresh is enough — see DIY cosmetic renovation.
Furnished or unfurnished? In most Ukrainian markets, tenants expect a furnished apartment. Unfurnished lets are mostly large family apartments on long leases.
Should I allow pets? Pet-friendly apartments let faster. Choose scratch-resistant surfaces and take an extra deposit.
How often should I refresh? Repainting and minor repairs between tenants or every 2–3 years; appliances and furniture as needed.
Do I need a designer for a rental renovation? A full design project isn't required, but a designer's consultation on layout, lighting and color pays off: the apartment looks more expensive in photos and lets faster.
Can renovation costs reduce my tax? An individual pays tax on the full rent, and a sole proprietor on the single tax pays on income, so renovation costs don't reduce the tax base.
What do foreign tenants expect? Expats usually look for a fully equipped apartment: a dishwasher, air conditioning, fast internet, a good mattress, blackout curtains and a bilingual lease. Backup power and a shelter in the building have become important arguments for this audience too.
Conclusion
Renovating for rent is a business decision. Define your target tenant, invest in utilities, the bathroom, kitchen, durable flooring and backup power, and save on decor and designer features. Document the apartment's condition and calculate the payback. More on yield strategies in real estate investment.
Sources
- Civil Code of Ukraine — Chapter 59 "Lease (Hire) of Housing".
- Tax Code of Ukraine — taxation of rental income.
- EPA: indoor air quality — choosing low-emission materials.
- Rental market analytics: DOM.RIA, LUN.