Why You May Want to Reconsider Wood Paneling in Your Rental
Like so many property owners in Las Vegas, you’re probably also planning to make some changes to your rental property in 2020. Perhaps you’re thinking about taking on a cosmetic renovation, like revamping the living room area.
While a good coat of neutral-colored paint looks nice, you may want to consider going a step further and installing — gasp! — wood paneling.
Yup, we said it.
Before you shriek in horror, modern wood paneling is a lot different than it was back in the 60s and 70s when basements, living rooms, and rec rooms were lined with the stuff. Wood paneling is making a big comeback and is now considered quite attractive to center renter demographics.
Wood Paneling Today
Thanks in large part to an increasing number of Las Vegas gastropubs and trendy restaurants choosing to decorate with wood paneling, this type of interior design is undergoing a kind of renaissance.
Genuine hardwood veneers are now available in a wide range of styles and colors, including more exotic materials like mahogany, zebrawood, or teak in addition to the more traditional standbys of birch, maple, and oak.
What is more, eco-friendly paneling made from reclaimed wood has become increasingly popular among younger generations who tend to be more environmentally conscious about issues like deforestation.
Is Wood Paneling Right for Your Rental?
Unless your rental is competing with other trendy properties, it may not make sense to decorate with wood paneling. Painted walls have been the go-to interior choice for rental homes for decades, and many renters have come to expect the “blank canvas” feel of rental home walls. For these renters, wood paneling may be seen as an unwanted decorative item.
On the other hand, rentals in Vegas neighborhoods with high numbers of young professionals may be able to charge a more competitive rent after adding some trendy wood paneling to the home. Wood paneling is relatively durable, and should last much longer than most paint jobs. But it also costs far more to install.
SMART Can Help You Make the Right Choice
In the end, it can be difficult to know whether you should opt for the trendy new look of interior wood paneling or stick to the tried-and-true neutral tones of interior paint. But SMART can help make that decision much easier. Our market expertise and data can help you determine what makes sense for your rental property, helping you to maximize your rental’s earning potential by helping you know what upgrades to spend money on and which just won’t do anything for you.