Updating your home or rental property does not have to be complicated or overly expensive. The owners of this condo hoped to increase the rent they charge for the unit, but could only afford to spend more than $20,000.  This redesign involved renovating the master bathroom and guest bathroom, repainting, furniture selection, and styling.  The total cost as approximately $15,000.  And once the renovation was complete and unit went back on the market, the result was a $1,000 increase in monthly rental income. Over the last four years, this renovation produced a $48,000 return on the owner’s modest $15,000 investment.