As a landlord or property manager, the last thing you want is for your property to sit vacant for long. That’s why the preparation stage prior to making your listing and conducting tours of the property is so vital. There are many simple and easy tasks you can complete to make your rental irresistible to potential tenants, keeping your property occupied at all times at the rates you want.
Here are 5 tips for preparing a highly desirable rental.
1. Focus on curb appeal.
The first step towards creating and irresistible rental property is to make it stand out from the outside. A drab, outdated look on the exterior of your home can put a quick stop to prospective tenant interest, forcing them to look elsewhere for their next rental. However, if you home looks great from the outside, tenants are going to want to look in and will already have a more favorable outlook on what they might find.
Here’s what you should do:
Maintain excellent yard care. This means consistent mowing and trimming at the very least.
Get rid of any trash and weeds. Make sure the driveway and side areas of the property are neat and clean.
Replace or repair exterior fixtures. From shutters to house numbers, you want every aspect of your property’s exterior looking its best.
Create an inviting entryway. If your property has a patio or place to add flowerbeds or boxes, adding some color and flora can be a fantastic way to spruce up your curb appeal.
2. Renovate your bathrooms.
Depending on your time and budget, the level to which you enhance the bathrooms in your rental property will vary, but you should never ignore these important areas of your home. Arguably nowhere in your rental will be as much of a deal breaker for renters as an old and ugly bathroom, so do everything in your power to give them a clean, modern look.
First, you want to thoroughly clean everything. Leave no corner un-mopped, no surface area un-wiped, and no grout un-scrubbed. A good deep cleaning may be enough to give your bathroom a quality look without the need for additional upgrade. However, it doesn’t hurt to determine where else you can make improvements.
Fixtures are a great place to start, as replacing things like the knobs on drawers or even your faucets is relatively inexpensive and can instantly create a modern feel in a bathroom. Of course, if you have it in your budget and the tub, sink, or mirrors need replaced, do it. Investing in a bathroom almost always pay off in the long run.
3. Upgrade your kitchen.
Like your bathrooms, the kitchen is the heart of much home activity and a vital area for cleaning and upgrades. You always want to make the kitchen a primary focus of your rental property preparations.
Again, start with cleaning. This means pulling out all appliances and scrubbing every surface to ensure no left-over grime and grossness is there when a prospective tenant tours the property. Don’t forget to clean the oven and wipe around all fans, fixtures, and walls. It is always amazing where kitchen splatters end up, so you need to be thorough and eagle-eyed.
After a good cleaning, see what else you can upgrade. New appliances are great if yours are a couple decades old, but most of the time simple upgrades to cabinetry knobs and handles can give your kitchen an updated look. If you’re looking to take that even further without spending too much, consider the next tip.
4. Repaint.
Don’t underestimate the power of a fresh coat of paint to give a property a renovated feel. A new coat of paint can brighten and refresh any room. It can even make it look larger and more inviting.
Start with neutral colors. You want your property to appeal to the widest base of prospective tenants possible, so stick with the basics even if you think they are boring. Lighter hues also help make spaces look bigger, especially in combination with good lighting.
Then, go with a semi-gloss or satin finish paint. These hold up great, even to wear like scuff marks, splatters, and children’s artwork. A semi-gloss paint will clean up easily, whereas a flatter paint finish is more likely to absorb the stains you don’t want showcased on your walls when showing the property to new tenants. Go for durable, long-lasting paints and save yourself money.
5. Compare other listings.
Once you have a beautiful, competitive property ready for listing, it’s time to look at what other rentals are selling. You can easily make comparisons on rental listing sites like Craigslist, Zillow, Apartments.com, and so much more.
Find out what properties like yours are advertising. Perhaps they’ve recently remodeled certain rooms or have a large outdoor area to feature. You want to examine what is similarly great about your own property that you can highlight in your listing, setting it apart from the competition. Showcase your beautiful bathrooms and kitchen and watch your inbox blow up with interested renters.
Rent a quality property to quality tenants.
Taking the time to prepare an irresistible rental property by focusing on curb appeal, kitchens and bathrooms, and more will help you not only in keeping vacancies low but in finding and retaining quality tenants who will care for your property like it is their own. Show you care and set a standard for your rental that your tenants will want to maintain and keep renting for a long time.
Then watch your rental income rise and your maintenance costs decline.
For more information on property management and real estate investment, contact 208.properties today.
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