With thousands of rental properties on the market in any given city or neighborhood, making your property stand out is hard enough. Making it stand out to good tenants who are likely to take care of your property, pay on time, and not create unnecessary headaches for you is even more difficult.
However, this is exactly what the top landlords do. They figure out ways to position themselves so they can avoid problem tenants and keep their properties filled with high-quality renters.
Here are some suggestions that should help you do the same.
1. Enhance the Curb Appeal
First impressions matter a lot. The exterior of your property is the first thing potential renters will see, so make sure it looks inviting. Simple improvements make a huge difference. Here are some ideas:
- Slap a fresh coat of paint on the front door.
- Spend the money to hire a landscaping crew to come by weekly for a quick mow and cleanup.
- Add small touches to the front porch, like potted plants, doormats, or even furniture.
It doesn’t take much to enhance curb appeal. Next time you pull up to the property, spend some time looking at it as if it were the first time you were seeing the property. What would stick out as something you’d want improved?
2. Upgrade the Interior
Once inside, your potential renters are looking for signs that the property is worth their money. Updating the interior can significantly boost the appeal. Consider modernizing key elements like the kitchen and bathroom, which are crucial for most tenants.
Even small upgrades, like new cabinet handles, modern light fixtures, or new backsplash, can refresh the space without requiring a full renovation. In fact, this is most likely the best place you can spend your money.
For less than $1,000, you should be able to upgrade all of the hardware and lighting in a kitchen or bathroom.
3. Offer Modern Amenities
In today’s rental market, offering modern amenities can set your property apart. High-speed internet access, in-unit laundry, air conditioning, and efficient heating systems are highly attractive. Smart home features like programmable thermostats or security cameras can also be a big draw. Think about what amenities people are putting in luxury homes in the area, and then go out and look for cost-effective ways to replicate those in your rental properties.
4. Provide Excellent Management
The way you manage your rental can significantly affect its attractiveness. Being responsive and respectful to tenant concerns, conducting regular maintenance, and ensuring that all interactions are professional can build a positive reputation. Good management practices can also encourage current tenants to renew their leases, reducing turnover and vacancy rates.
If property management isn’t your strong suit – or maybe isn’t something you want to do – hire a professional property management service to do this for you. Yes, it’ll add an expense to your property, but it’s money well spent. It’ll help you find better tenants and keep them happy.
5. Keep It Clean
The importance of presenting a clean property cannot be overstated. Before showing the property, ensure it is spotless. This means more than just a quick sweep – you need to really lean into it.
Consider hiring a professional cleaning service that includes carpets, windows, and all nooks and crannies. A clean property is much more inviting and can make a huge difference in how potential renters perceive the value of the rental.
6. Be Flexible and Accommodating
Flexibility can make your property more attractive to prospective tenants. Consider being flexible with lease terms, such as offering a 6-month lease as well as a traditional year-long lease, or allowing pets with certain restrictions. These accommodations can make your property appealing to a broader range of tenants and make them feel more at home.
7. Highlight Safety and Security
Safety is a top priority for everyone. Ensure that all locks are sturdy and working, consider adding a security system, and ensure that outdoor areas are well-lit. Providing these security features can give potential tenants peace of mind and make your property more desirable.
Make Your Property Stand Out
Making a property stand out isn’t as difficult as you might think. By making some of the strategic improvements discussed in this article, you can give your properties a strategic advantage that other landlords in the neighborhood will have trouble matching. Pick one or two from the list above and get started as soon as possible!
Article Submitted By Community Writer
