If you own a rental property or apartments, cheap flats are a must. Tenants coming and going tend to put a lot of wear on the floors. With this frequent turnover, up-to-date décor, like flooring, is crucial to keeping units rented. The trick is knowing the options you have and deciding which one is best for you, your needs and your budget. There are 5 very good cheap flat options for rental properties and each one has its pros and cons.

Carpet – Carpet is probably the most common inexpensive flooring installed in apartments and rental units. If you know how to search for the right deals, it can be obtained very cheaply and set up fairly quickly. You should be able to find entry-level plush rugs in neutral colors for under $4.50 a yard (maybe even under $4 a yard if you really look). Cheap carpet padding will generally run you an extra $2.30 to $2.75 per yard for a basic 6-pound density, 7/16″ thickness. You can skimp on the pad by choosing a thinner or lower-weight pad, but in the long run I ended up replacing the pad more often than I would with the basic 6 pound style. Carpet can be inexpensive as a rental option, probably one of the cheapest actually, but it also won’t last as long as many of the other options.

Carpet tile: Carpet tile is a modular version of carpet. It’s made with a built-in backrest and comes in square pieces designed to fit side by side. Installation can be very quick and inexpensive, and they can be easier to handle than roll carpet. An advantage of carpet tiles is that they can be replaced individually if one gets too dirty or stained to clean. Using carpet tiles can potentially save you some money over time by not having to replace the entire carpet in a unit. Commercially graded carpet tiles also handle heavy traffic much better than cheap, traditional shag carpeting. Carpet tiles can be found for as little as $4.50/yard to $7.00 per square yard range.

Laminate – Laminate flooring can be inexpensive and highly functional in rental properties and apartments. Laminate is virtually stain proof, resists most scratches well, and handles foot traffic extremely well. Laminate will last much longer than carpet options and can be quite inexpensive when looking for lower-end styles in the 6-7 mil thickness range. You should be able to buy an entry-level laminate floor for less than $8 per yard ($0.89 per foot). The main drawback of laminate is its susceptibility to water. Laminate flooring hates water and humidity. Kitchens and bathrooms are not usually good areas to install laminate flooring.

Luxury vinyl plank and tile – Paired with laminate, a very good budget option and more durable than other options. Luxury vinyl planks that look like wood and vinyl tiles that look like ceramic, slate, or marble can handle spills and constant traffic very well. Additionally, luxury vinyl planks and tiles work well in rental properties due to their ability to resist most scratches. These are not the same as peel-and-stick vinyl planks and tiles, which can be a bad idea for rental units (peel-and-stick vinyl floors tend to re-up and can be a headache for the maintenance). Quality luxury vinyl tile and plank can be found for as little as $1.25 per square foot. This tends to be a bit high compared to some of the other options, but it will last much longer than most options.

Traditional Vinyl Sheet – Vinyl sheet products are actually pretty tough and take abuse quite well. The knock against traditional vinyl is that it looks cheap. Vinyl wrap products have come a long way and some of the newer patterns look much better than those of the past. The advantage of vinyl products is that they work very well in wet areas like bathrooms, laundry areas, and kitchens. A good way to save money on vinyl for rental properties or apartments is to find a source where you can get discounted products that are considered surplus or second. If you can find these types of vinyl, you should be able to buy them for less than $6 per square yard for a very good quality product. You can also find premium builder grade vinyl for around $6 a yard.