Hi Marisa,

I just put down laminate flooring throughout my place which is a cheaper alternative to floorboards. Thats over here in Perth where floors are predominantly concrete slab construction. Laminate goes for anywhere from $15 /m2 to $50 / m2 for floating floors. As for existing timber floors and polishing, I personally think they look much nicer than carpet and are easier to keep clean. You can always get the floor repolished if the floors are too scratched when a tenant moves out.

Just my humble thoughts, good luck.