In general, your finishes are middle grade. Vinyl flooring anywhere other than the kitchen and baths is not attractive. Granite by itself might make your unit rent faster but it might not increase the rent much. More information is needed. Size of the unit, parking availability, bedroom and bathroom count, school quality, and all the other things potential tenants look at. What is the typical tenant profile? What are other units renting for and what are their finishes? Do you see a trend in rents in your complex and similar nearby complexes for better finishes? You can make a more reasoned decision with that information.
Thank you Another Reader for your comments.
Yes I would say we are middle grade, not luxury market. The living room is wood laminate flooring, kitchens and baths are a textured vinyl. Bedrooms are carpet. We also middle range of finshes for our complex. Some are updated and very nicely (wood plank floors, granite, etc) but many are original from the 80s when they were built, especially the kitchen cabinets (ours are newer, probably early 2000s).
The townhouse is a large two bedroom, with 2.5 baths, 1325 SQFT. Fireplace, separate dinning room. Each bedroom has it's own balcony and there is a large deck (~10'x20'). I would say a B- maybe a B rental. Clean, nice, very good area but not "fancy."
It's in the top school district in the state but I don't expect to attract families, too small. It is very convenient to the a large and prestigious public university but not in the "student ghetto". University has large graduate programs in law, medicine/dental, business - these are our target renters. Many of the units in our neighborhood are either rented or owned by these folks. The University and attached hospital is also the city's largest employer; secondary target would be university hospital employees such as nurses.
Rents are around 1100-1350. There are many 2 bed units for rent but most are a floor-plan that is smaller than ours, nonetheless, a two bedroom is a two bedroom. I am hoping to rent for 1250-1275. I was thinking a little more upgrade might get me to that 1275 or at least help me rent fast at 1250.
I would like to have my choice of renters and get it rented fast. We're moving out in early June and I want it rented for Aug 1, before school starts. We'll be on vacation in July so have a 2-3 week window to show it and get it rented. I will try to complete as much work on the house as possible before we move; and have carpets cleaned the day after we are out.