Smart Ways to Make Your Rental Property More Attractive

Today, more families choose to rent out their homes. But with many rental properties in the market, it’s still a challenge to make your property stand out and be more attractive to tenants. If you want to maximize your income from your rental property, you’d want to attract the best tenants and make them stay for long.

Here are some tips to make your rental homes attractive to tenants:

1. Make your property durable and low-maintenance. The key here is to make the most of your property by turning it into a unit that will withstand all kinds of occupants. You’d want your property to be easy to maintain. Although a renovation calls for money, you’d still save more in the long run. Check out the following tips to make your property comfortable and durable:

• Install high-quality flooring. Choose a flooring material for your rental property that will withstand wear and tear but will still fit the bill. There are many options out there and iPropertyManagement has a list of the best flooring materials for rentals.
• Ensure that the kitchen is easy to clean. Because it’s the busiest part of the house, choose materials that provide functionality, comfort, durability, and low-maintenance. Consider using gloss paint in the kitchen to make the walls simple to clean.
• Consider the windows and doors. You don’t have to reinstall all the windows and doors for your rental property but check for damage and evaluate if anything needs replacement. Consider using steel or fiberglass exterior doors. These are indestructible and provide better insulation. Install plain and hollow-core interior doors. As for the windows, try horizontal or vertical sliders, which provide better insulation.
• Pay attention to the plumbing. If your unit has already served some time, it’s possible that it may have plumbing problems such as dripping faucets, faulty showers, or leaks.

2. Curb Appeal. You want to make a good first impression. Make your exterior welcoming to attract tenants inside. You don’t have to spend a fortune in improving your rental property’s curb appeal. Check out the following tips:

• Clean the area of trash, weeds or debris.
• Ensure that the lawn and shrubs are well-maintained.
• If you have an outdoor area, consider adding plants and flowers to create a comfortable and homey feeling. Keep the plants alive and remember that dead plants are more off-putting than no plants.
• Replace those torn window screens and repair any broken banisters. Take time to remove any chipped paint and refresh your exterior with a new coat of paint.
• Inspect light fixtures, the mailbox, and house number plaques or decals, and ensure they’re in great condition.
• If repairs and replacements are needed, perform these as soon as you can.
• Designate an out-of-sight area for garbage and recycling bins.

3. Choose neutral colors. Although you may find a fuchsia-themed room to be fun and happy, not everyone will feel the same way. It’s better to choose neutral colors such as cream, grey, and beige. You may allow the tenants to paint their units with whatever color they want, but they should paint it again a neutral color before moving out.

Apply the neutral theme to the carpeting, floors, tiles, cabinets and light fixtures. Choose classic designs to save money instead of keeping up with the latest trends in home decor.

4. Give your property a makeover. The most effective yet affordable way to give your property a new look is to give it a new coat of paint. With just a can of paint, refresh those tired walls, highlight architectural features, and brighten the rooms.

• For your rental property, it’s best to choose semi-gloss or satin paint. This way, dirt and stains can be wiped clean unlike flat paint, which needs other applications to clean stains. Take time to paint also the molding.
• In painting siding, outdoor railings, and shutters, ensure that you select an appropriate exterior paint designed to withstand harsh weather conditions. To make the results long-lasting, perform the necessary surface preparations.

5. Clean the property including the bathrooms and kitchens. You don’t have to remodel your bathrooms and kitchens but it’s very important to have these spaces cleaned. Cabinets should be deep-cleaned, appliances polished, and floors all mopped clean. Give showers, bathtubs, toilets and other hardware a good scrubbing. Ensure that the mirrors and other reflective surfaces are free from fingerprints and film.

• While cleaning, inspect the ceilings and light fixtures. Remove cobwebs, dust, and grease from light fixtures and fans. Ensure that all light fixtures have working bulbs. You want to highlight the amount of light available in the property.
• After cleaning the rooms thoroughly, you can check if there are other problems that need to be addressed. Check if all the cabinet knobs and handles are functional, if not then a replacement should be done immediately.
• It’s highly recommended to have matching appliances but if this is costly and your current appliances are still fully functional, a cheaper alternative is to purchase an appliance cover or a stainless-steel cover. If your non-stainless appliances have scratches, you might want to use touch-up paint over them.
• If the bathtub and sink don’t match, you can purchase epoxy paint from hardware stores and give rusted white tub new life. Because these DIY kits are quite tricky to use, you may need to hire a professional for the refinishing.

6. Maintain your HVAC system. Replacing all your HVAC or heating, ventilation, and air conditioning systems can be expensive. Therefore, it’s crucial to maintain this important part of your property. Here are some ways to care for your heating and cooling system:

• Clean the air ducts regularly. Using power washers, brushes or vacuums, maintain the cleanliness of the air ducts. Dirty units can be a health hazard to anyone in the property and may also cost you a lot in the future.
• Change air filters. Air filters are inexpensive and it’s wise to have a good supply of air filters for easy replacement.
• Remove standing water. Stagnant water can serve as a breeding place for bacteria and contaminants so it’s important that this is removed.
• Inspect bearings and belts. Check to see that the belts don’t have a crooked edge. Regular cleaning is also vital for this part of your HVAC system. Belt misalignment is one of the causes of easily wearing out the pulley.

7. Give proper water heater maintenance. Water heaters are usually overlooked by tenants, and landlords can save more money by performing regular maintenance work. Here are some ways to maintain the water heater in your rental property:

• Schedule a yearly water heater inspection. Getting an annual inspection from professionals will ensure that your water heater remains in its best shape for years to come.
• Cover the water heater with an insulating blanket. This way, the amount of heat lost in the surroundings is minimized. This step is one way to help improve its life span.
• Remove sediment on the heater. Perform a mini-flush to get rid of sediment buildup. It’s an important step to maintain the efficiency of the water heater and prevent corrosion of the tank.
• Check the pressure and temperature relief valve. This is done to avoid excessive increase in pressure and temperature, which can result in an explosion.
• Lower the water heater’s temperature setting. This will ensure that your water heater doesn’t overheat. Doing this step will also help you save on your electricity bill.

8. Make your rental property smart. Although these smart devices won’t increase the paper value of your property, it’s expected to make it more attractive. It may increase the rent that new tenants would be willing to pay. Here’s a guide on how to transform your property into a smart one:

• Determine how smart devices can improve your property. Before buying anything, consider how you plan to have these smart devices help you and your tenants. Maybe you’d like to monitor your property from a distance, especially if you don’t have time to visit every day or you live far. You may also reduce energy costs using smart technology.
• Select the devices. After knowing how smart technology can help you and your tenants, it’s time to choose your devices. Consider smart smoke alarms, leak sensors, home security systems or smart thermostats. You may also want all-in-one security systems with motion sensors. Consider having sensors that help detect leaks or security cameras for additional security.
• Consider how tenants will control the devices. Smart devices can be controlled in different ways and you can select the appropriate ones for your tenants. The devices can be connected to mobile apps while some work using voice control. Other smart devices can connect using a smart speaker and some will also have a built-in voice receiver.
• Check how you’ll connect to your rental property. If you’re installing smart technology to monitor your property, you need to connect to these devices. You’ll probably need to use an app to check in from anywhere, anytime, to receive alerts, device status and security footage.

9. Know your selling points. The best way to make your property attractive is to emphasize its strengths. To determine your selling points, consider the following.

• Location. Think about what your property can offer to tenants in terms of its location. If it’s near a school, public transport, market, restaurants or grocery store, then advertise this.
• Features. Figure out what feature of your property makes it attractive to tenants. If it has a pool, smart devices, new appliances, or allows pets, mention this in your ad.
• Rates. Know about the local market and consider offering competitive rates to tenants. Below-market rental cost is an effective way to attract renters.
• Laws. Understand the local property market by knowing and following the laws that govern rental properties.
• Lease. Make your rental property different from others by offering short-term leases. Many tenants prefer shorter contracts especially on apartments. See if you can offer a monthly lease contract but check if this is allowed in your state or not.

10. Create a welcome package for new tenants. One of the ways to establish a good tenant-landlord relationship is to make a good first impression. A welcome package is a box of necessities and other things, which you give to new tenants when they first move in. Here are some things to include in your welcome package:

• Local map. This is helpful if your tenants are from out of town. You may want to highlight the important points on the map, including local shopping, gym, or clinics.
• Toiletries. Moving can be a stressful process and giving them essentials and toiletries can be a relief. Include cleaning items, toilet paper, or paper towels. You can also include other things such as a bouquet of flowers or scented candles.
• Refreshments. During their move, your tenants will appreciate some food and drinks to pick them up. You can include lemonade, cold bottles or water, trail mix, or chips.
• Gift cards. If you can afford, you can impress your new tenants with a gift card of the restaurant of their choice. If your budget won’t allow, you can also give them a gift card to a local coffee shop.
• Personal note. Write a short note welcoming them into your place and how you’re glad to have them. You can also include your contact information, so they know how to reach you when they need to.
• Coupons. New tenants may be stressed with their financial situation and a book of coupons should be helpful. Local businesses may provide these for free in the hopes of gaining a loyal customer.
• Information handbook. This will give your tenants all the necessary information in one place. If you provide tenants with the necessary information, they won’t be calling you every now and then for questions. Here are some things you should include:
  • Important information about the property including the utility suppliers and the address
  • A copy of their lease agreement or other necessary documents
  • Emergency phone numbers and your contact information

Final Thoughts

To attract new tenants to your rental property, it’s crucial to ensure that the property stands out. But in no way should it mean that you must go overboard in your spending. With proper maintenance and making informed choices, you can make your place more attractive to tenants. When new tenants come into your property, ensure that you establish a good relationship with them to make them stay for long.