Hi Ms Luise Tan,
Current rental market is sluggish therefore any efforts to spruce up the apartment, allowing the apartment to stand out against the competing units will definitely enhance the rentability of the apartment.
I would definitely not encourage extensive renovations, however, considerations like putting in nice lights (2 or 3 coloured lights for different environment settings), simple carpentry works to enhance storage space will be ideal. Go for simple minimalistic design where it is easy to accept for your renovation if you are really considering to do abit more. It does not guarantee higher rental, but it will definitely put your apartment within the tenants' shortlist more than a simple apartment out there for rent.
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