Many times during the
course of business I get calls or emails from
investor landlords needing help getting their properties rented. Upon going to
the properties to take pictures I see that the property has no curb appear and
the inside has even less appeal. Yet the landlord seems flummoxed as to why
their property isn't renting quicker.
A bit of paint can go a great deal, cleaning carpets can go a bit further,
updating a kitchen can sometimes be the deal maker and an antiquated
kitchen a deal breaker...
Here is a quick list of the top 6 things a landlord can do to get a property
rented and fetch the rental price they are looking for.
Calling all landlord. I would be happy to help with the cost of these
upgrades/repairs. No.... I am not writing checks or giving out money but I can
give you a free coupon to Lowes to help with the costs. Email me or call me
for more information.
1. Paint the Walls
Paint is the most inexpensive way to breathe life into a space. A new paint job works wonders at giving an old, outdated apartment a fresh look. Choose neutral, muted colors such as grey and beige, since renters bring their own furniture and don’t want to have to match it to a bright wall color. The cost of repainting is always recouped in the higher rent you will be sure to receive.
2. Put Down Carpet Tiles
If your property has floors that are less than desirable and you cannot afford to redo them, putting down carpet tiles may be the way to go. Carpet tiles are small squares of carpeting that are significantly less expensive than wall-to-wall carpeting and serve the same purpose. The tiles are glued into place on the floor and can be easily replaced every few years.
You can check out the varieties available and cost here.
3. Stage the Rooms
Often, prospective renters have a hard time envisioning the potential of an empty apartment or house. Here is where the keen eye of a seasoned rental specialist can reap huge benefits and just by using a few key pieces of furniture. A renter’s eye is immediately attracted to the gorgeously furnished room and can overlook any shortcomings in the physical structure.
4. Increase Curb Appeal
As your mother always told you, first impressions make a difference. This is true with the rental property market, since people are never interested in investing their time, energy or money into beautifying a rental. As a property owner, take the time to remove weeds, leaves, clean up trash, add some flower pots and make sure the mailbox, light fixtures and gates are painted and clean. Prospective renters are looking for a clean and welcoming home.
5. Clean The Place
While it sounds obvious, there is no overstating how important a clean apartment fares for prospective renters. Renters look at the kitchen and bathrooms to determine whether or not they want to live in a place. While you don’t need to completely renovate either, polishing old appliances and scrubbing down the cabinetry works wonders for giving your place a fresh look. Bathrooms, including the tub, toilet and sink, should be sparkling clean. Prospective renters need to be able to envision themselves cooking in the kitchen and showering in the bathroom.
6. Using a Rental Specialist
There are not enough words to state the importance of using a real estate agent who specializes in rentals (as well as sales of course). Rental specialists usually have a tenant pipeline that can be tapped in order to find landlords the right tenant fit, right away.
Services readily available to process applications include: background checks, employment verification, past landlord verification, criminal background checks, etc., in the most expeditious way.