If you're in the investment property business or thinking about entering into it, then you'll want to make sure your rental properties appeal to potential renters as much as possible. Read on for a few ideas about how to make your rentals shine.
Before you show a property to a potential renter, make sure that it's thoroughly clean and presentable. Even if you hire a cleaning service to do the work for you, check that it's been done right, and insist upon satisfaction if it isn't. All surfaces should be scrubbed down. Carpets should be fresh and clean. Kitchens and bathrooms should be spotless. The place should smell good. Pay attention to little details as well, like window sills, the tops of cupboards, and light fixtures. Most renters hate having to clean a place when they move into it, so make them feel like they won't have to if they rent from you.
Your properties should also be in good repair. When tenants move out, do an inspection, and make up a repair checklist for each unit. If you can make repairs yourself, do so. Otherwise, hire a handyman, but watch to make sure the work is done correctly. You might, for instance, give the property a fresh coat of paint, fix up damaged kitchen cabinets, or repair plumbing glitches. Your renters should not have to deal with neglected maintenance in their new home, so be sure they don't have to.
You may even add a few special touches to your property to make it stand out from the crowd. For example, you can make your rental more environmentally friendly by installing a smart thermostat or other “green” features. You could also update appliances, window treatments, or flooring. If the rental has an outdoor space, put in some benches for seating and an awning for shade. Potential renters will appreciate your thoughtfulness.
If you're going to rent your property for the price you're asking, then you need to convince renters of its value and that means eye-catching marketing. You might work with online rental sites to give your properties some visibility or create your own website and social media pages. You could also print up some pamphlets to showcase your properties. Online pamphlet makers have simplified this task significantly. You can choose a pamphlet template and customize your pamphlet with pictures, text, colors, fonts, and unique designs. A pamphlet will give potential renters something tangible to help them remember your property.
Finally, if you're entering into the investment property business for the first time or swamped with other work, consider hiring a property management company to help you with the daily tasks of being a landlord. You'll still have responsibility for your properties, but you can turn over some of the interactions to the manager to save you some time and stress.
Your properties aren't making money for you when they're sitting empty, so make sure they are as appealing as possible to potential renters. And once you do, if you are ready to discuss your plans for your next rental investment, contact Temple View today to learn more.