Profit is the bottom line of any rental property, that much is for sure. While you can’t let your personal taste get in the way of that, you also don’t want to end up looking cheap by putting a house or apartment for rent when it seems wholly dull or downright ugly. Competition is intense in the real estate market right now, so it will do you no favors to face a rival property that looks stunning if yours doesn’t, no matter how cheap it is.
You might think that pouring a lot of money into remodeling your properties is not worth it, but there are plenty of affordable ways to make any rental look appealing and lively. These tips go beyond just updating the decoration since it’s very likely that your tenant will change it all up and make it their own anyway. Instead, we’re trying to help you create a solid foundation on which your tenant will envision their dream home during their visit. Try them out!
Understand what makes your property special
Before you make changes, you must know what the competition is offering and how your property stands out. Check the local listings for real estate in newspapers and Craigslist so you can compare their rentals with yours. Are they advertising a newly renovated kitchen while yours is actually 10-years old? Then your selling point should be the recently painted exterior. Are they located in a desirable area? Yours has that amazing backyard where people can entertain guests. The key is breaking down your rental’s most desirable features and putting those at the forefront of your adverts.
Focus on the bathroom and kitchen
Nothing seals the deal quite like an appealing kitchen and bathroom combo, and we’re not even talking about remodeling. Just clean them up good! Mop, scrub and polish all countertops, appliances, mirrors, toilets, and really make them shine. All reflective surfaces should be free of smudges and fingerprints. And please, no mildew anywhere! After cleaning, you can take care of details such as changing broken light fixtures, burned-out lightbulbs, remove cobwebs, etc.
Once that is done, you can check for other affordable fixes you can do, like installing new doorknobs, or get matching kitchen appliances, remove the rust from faucets, and more.
Give the interior a paint makeover
A single can of paint has the power to transform how a room looks and feels. In truth, giving your rental’s walls a new coat of paint is a good investment considering what it can do to revive an old and tired-looking space. Since this is one of the most effective and affordable options, we’ll give you some tips for painting rental properties.
Most people will tell you that the only good paint colors for a rental property are gray, beige, off white or a few other neutral colors to keep it as mass-appealing and “timeless” as possible. While it is true that painting the bedroom in bright yellow or the living room hot pink is a bad way to attract a tenant, that doesn’t mean that you have to make your rental look so dull. Choose colors that have more life in them, but still leaning towards softer tones, so they look gentle and not shocking to prospective tenants. We recommend that whatever it is the color that you choose, go with a semi-gloss or satin paint so you can wipe off stains and scrub marks easily.
Increase the curb appeal
First impressions are crucial for houses, too. If the exterior of your building or rental home is unappealing, you can be sure that your prospective tenant will already have a negative idea about the place before they even set foot inside. Increase your property’s curb appeal by getting rid of weeds and trash in front of the property, and if you have a lawn, make sure it’s well-groomed.
If you don’t have them already, set up a designated spot for waste and recycling materials, each with its proper receptacle. Once that’s taken cared of, try to make the property feel lived-in by adding a few potted plants and even a few pieces of patio furniture. Keep it well maintained, however, because dead plants and dirty furniture is worse than not having them at all.
These are all excellent ways to increase your rental’s appeal on their own, but you can mix or change them to better suit your needs. Remember, first impressions are not only made on the outside of your rental but when they’re inside of it as well!