Are you a landlord that is having a hard time filling your rental property? Has it been vacant for a while despite what you feel is a fair rental price? While price always factors into the decision-making process, the fact is that there is much more that goes into making a rental property attractive to tenants. And, of course, you want to attract the right kind of tenant that is reliable, pays their rent on time, will treat the property with respect, and not cause any issues. So what can you do?
The good news is that there are a number of tips you can use that will help make your property more attractive to tenants. Here’s a few to get you started.
Give the Unit a Deep Cleaning
First impressions count for a lot so you need to be sure you’re creating a positive first impression for potential tenants. One of the best ways to do this is to not just give a general cleaning, but really deep clean the unit. You want it to feel fresh and clean so that people can picture their own belongings in there and feel comfortable in the space.
It may be best to hire a professional cleaning service for this level of cleaning, as you may need to take extra steps like deep cleaning carpets, washing walls and baseboards, polishing floors, and so forth.
Work on the Exterior Curb Appeal
Then there is the exterior of the building, flat, or unit. If it doesn’t look well-maintained and cared for, chances are tenants won’t give it a second look. That doesn’t mean you need a professional landscaper, a good cleaning could be all it needs.
Make sure there is no rubbish or debris, weed any gardens, trim back overgrown bushes/trees, add a pop of colour with some flower containers, update the exterior lighting, repaint the front door, and if there is available outdoor space, add some seating.
Ensure You Have the Proper Buildings Insurance
While this may not seem like a big deal to renters, in reality, it helps give them peace of mind that the property is in fact protected from an insurance standpoint. Of course, as a landlord, not just any old insurance will do. As Deacon points out, you will need specific buildings insurance. It’s well worth your time to look into the various coverage options so that you can be confident in your decision, and then pass that peace of mind onto your leaseholders.
Use paint to the Interior for a fresh look
Completely redecorating and remodeling the interior is not only expensive but chances are it’s not necessary. A fresh coat of paint throughout the unit can do wonders for the appeal and can make everything feel modern. Just be sure to choose a light, bright, neutral color palette that is universally appealing.
Well on Your Way to Renting It Out
By following these tips, you’ll find you are well on your way to renting out your properties.