5 Renovations That Increase Rent in Ontario Rental Properties

Property Management in Ontario

By Devon Moore, Operations Lead

Not all renovations increase rent equally. Some improvements have strong return on investment for rental properties; others add cost without adding income. Here are the five upgrades with the strongest rental return for Ontario landlords.

1. Kitchen update: replacing outdated countertops (laminate to quartz), painting or refacing cabinets, and installing new hardware typically costs $3,000-8,000 and can justify $100-250/month in higher rent — paying back in 1-3 years.

Key Responsibilities and Best Practices

2. Bathroom renovation: replacing a dated bathroom (new tile, vanity, fixtures) costs $4,000-10,000 and can support $100-200/month premium. Modern bathrooms are consistently among the top factors tenants cite when selecting rentals.

3. Flooring: replacing worn carpet with luxury vinyl plank (LVP) flooring costs $2,500-5,000 for a typical unit. LVP is durable, easy to clean, appealing to tenants, and supports $75-150/month in higher rent while reducing long-term maintenance costs.

How D&D Property Management Helps

4. In-suite laundry: adding a washer/dryer hookup and stacked unit (if not already present) costs $1,500-4,000 installed and supports $100-200/month premium — one of the highest-ROI upgrades for units without laundry.

5. Exterior and curb appeal: fresh paint, updated entry, improved exterior lighting. While these don't directly increase rent, they significantly reduce vacancy by attracting better-qualified applicants who will pay market rate without negotiation.

Always calculate the payback period before investing in renovations: upgrade cost ÷ monthly rent increase = months to payback. Target upgrades that pay back within 24-36 months.

D&D Property Management advises clients on strategic property upgrades and can coordinate renovations between tenancies to minimize vacancy and maximize return.

Devon Moore, Operations Lead Co-Founder & Operations Lead — D&D Property Management

Devon Moore is the co-founder and Operations Lead at D&D Property Management, managing rental properties across Kitchener-Waterloo, Cambridge, Guelph and Waterloo Region.