Indeed. I did something like I mentioned above + we replaced the master bathroom carpet (yuck) with tiles for pretty cheap. In return we locked in a 1 year rent reduction to recoup our costs and 2 years at a low rate.
It worked out for everyone. We didn’t have to live with disgusting bathroom carpets, the place looked nicer for the rest of our rental period, it let us save money to put a down payment on a house, and we didn’t have the temptation to move to a “nicer looking” place and spend money and time on moving again.
In the end, the landlord got back a place that was more attractive to future renters.
The key is to ensure your landlord is a decent person (they exist). Ours only had the one house they were renting (used to be their house before they bought a new house in a better school district and decided to rent vs sell).
If it’s a large holding company that is known to screw over tenants? Yeah fuck them, do the bare minimum and move out.