Making design decisions for a rental property can be difficult. You want to keep costs low to get the most out of your investment property, and turning the property into your dream home isn’t the goal since it won’t be you living there. But to attract your ideal tenants and keep your rental occupied, you will want to invest in some design choices that make your home highly desirable.
As a landlord, there are plenty of choices you can make that will be appealing to potential tenants without breaking the bank. Here are just a few ideas for improvements that will help keep your property occupied:
1. Curb appeal
The exterior of the property creates the first impression for potential renters and influences how they feel about the inside. Potential tenants want to see that you take care of the property, inside and out, and giving the exterior extra attention makes your rental stand out and sets expectations for tenant upkeep.
Remove any weeds and dead plants, clean up dirt or debris, give chipped paint a new coat, and repair any damage to the outside of the property. Addressing these repairs will increase the curb appeal of your rental and lead to higher value.
You might also want to consider a few small additions to give your property character, such as potted plants or a fresh coat of paint on the front door.
2. Kitchen upgrades
The kitchen will be one of the most important factors for a tenant deciding on a rental home. You can make small changes in the kitchen that will have a large impact on potential tenants without costing you too much money.
Find creative storage solutions, repaint the cabinets, or install a backsplash to make your home feel new. Also, hire a professional cleaning service between tenants, so the kitchen is sparkling clean for each new resident.
3. Working appliances
Poorly functioning appliances can create tenant frustration and eat up your time with recurring maintenance requests. Tenants might even look for other places to live or leave you or the property with a bad review out of frustration for old or broken appliances.
Consider replacing your problematic appliances with newer models. While this may be costly initially, new appliances will serve as an investment for attracting and keeping tenants as you cut down on time and labor spent on maintenance requests.
You can even find new appliances that save energy, which will end up saving you more money in the long run.
4. Neutral tones and staged furniture
When potential tenants walk into your rental property, they will try to imagine themselves calling it home. This can be difficult if the walls, floors or finishes are painted with loud or gaudy colors.
Always choose neutral shades for your rental property that go with any palette, so the prospective tenant can easily imagine their items and furniture in the new space. Ultimately, you want your rental property to be appealing to as many potential tenants as possible, and that means using a color palette that most renters will find agreeable.
Another way to help prospective tenants picture themselves in your property is to stage furniture for listing photos and walkthroughs. Potential tenants want to know that their furniture will fit in your rental property, and it will be easier for them to gauge the size of the space in your home if there is a couch in the living room or a table in the dining room.
These design choices will give your property a competitive edge and draw in quality tenants without costing you much money. For more tips on property management, find 208.properties on social media or contact us today.