Are you wondering how to make your rental property more attractive to tenants and stand out from the competition? Each day your property remains vacant, you miss out on potential rental income. In this article, we highlight nine ways to make your rental property more appealing to potential renters and make tenants jump at a vacancy.
1. Clean it up
Your rental property may have been sitting empty for a while, but this does not mean that you should neglect regular maintenance. Musty smells, toilet rings, cobwebs, and dusty surfaces are a complete turn-off for most prospective tenants, so you should consider making the space sparkle. Dedicate time to dusting surfaces and furniture, cleaning the doors and windows, sweeping and vacuuming, and installing air fresheners to get rid of undesired smells.
2. Boost curb appeal
Improving your home’s curb appeal helps you create an excellent first impression. Be sure to make your lawn tidy before hosting showings by raking, mowing, and decluttering it. You should also consider pruning the back trees and trimming shrubbery to open up the yard and give your property a natural frame.
Adding bulbs and flowering perennials can also enhance the appearance of your home’s exterior. Avoid going overboard with your property’s landscaping, especially if you intend for your tenants to maintain the backyard themselves. A lot of landscaping means more maintenance, which can be time-consuming and costly, so you could end up intimidating prospective tenants.
Adding a fresh coat of paint to your property is one of the most affordable home improvements. It can also completely transform the appearance of your space. You should identify stained, dirty, scuffed areas in your rental property and paint, but be careful with the paint selection.
While bright and bold colors are more attractive, they may not be appealing to some of your potential tenants, so you should consider going for neutral colors such as beige, cream, and gray.
For your property’s exterior, including the siding, railings, and shutters, go for quality paint designed to handle extreme weather conditions for long-lasting results. You should also opt for semi-gloss or satin paint as it is easier to clean and wipe off the grease, scuff marks, and crayon marks. This helps maintain a sparkling clean wall at all times. If you are having trouble selecting the perfect paint for your property or are too busy to handle the paintwork, consider hiring professional painters from sites like this to handle the job for you.
4. Update the kitchen
If you win a potential tenant with a clean, new, and modern kitchen, you can quickly sell the rest of the property. While you do not have to do a complete overhaul of the kitchen, be sure to deep clean the floors, sinks, cabinets, and other appliances. Add more storage space and shelves for utensils, small appliances, spices, and food. You could also replace cabinet knobs, and door handles, paint cabinets, and add new flooring. Invest in modern kitchen appliances to appeal to a broader tenant base if your budget allows it.
5. Clean and polish the bathroom
Along with the kitchen, the bathroom can also make or break your property in a potential tenant’s eyes. Give your tenants the same experience as local inns or bed and breakfast by keeping the bathing area fresh and clean. You should also consider adding more counter and storage space and shelves for supplies like toiletries, cleaning materials, and towels. You could also handle inexpensive fixes such as replacing the toilet, adding lighting and mirrors, and upgrading fixtures and faucets.
6. Install a security system
Safety is at the top of every potential tenant’s list when looking for a place to rent. For this reason, you should consider adding a security system to appeal to a greater number of prospective renters. A security system can also help with your insurance policy as most insurance companies offer discounts for properties with monitored security plans. Be sure to opt for a modern security system with home integration features to enhance the ease of use and management.
7. Stage your property
Showing an empty home can be a turn-off for some potential tenants, as they often look for a rental property with a lived-in feel, so you should consider staging it to improve your chances. Staging your property makes it feel homey and comfortable. You could add accessories such as books, coffee tables, vases or beddings, artwork, toss pillows, and throws to the property. Adding mirrors can also help open up a small space. Alternatively, hire a staging company to fill your home with decor and furniture to attract more tenants.
8. Offer incentives
With the various rental properties in the market, each competing for similar tenants, you should consider offering incentives to entice prospective tenants. Incentives provide extra value to potential tenants and could mean the difference between signing a contract or seeing a renter walk away. Some ideas of winning incentives include giving renters a gift card, allowing flexible leasing terms, offering a few months rent-free, or providing or hiring lawn maintenance on their behalf.
9. Take excellent photographs
Photos play a crucial role when advertising your apartments. Potential tenants are likely to judge the book by its cover, so you should strive to take high-quality photographs to stand out from the competition. Avoid including people, pets, or clutter in your photos. You should also ensure that you take pictures in the best light and never at night. Be sure to showcase the entire property on your images to avoid giving prospective tenants the idea that you are hiding certain aspects of your home. You can hire a professional photographer for the best results.
One of the most challenging parts of being a rental property owner is filling vacancies. To curb this challenge, consider deep cleaning, installing security systems, painting, updating the kitchen and bathroom, offering incentives, and staging the property to have prospective tenants knocking on your door.