How to Make Your Rental Property Attractive to Potential Tenants

By
Services for Real Estate Pros with TRINIDIGITAL

Vacant rental properties are of no use to landlords. In fact, they’re more of a liability. An unoccupied home or apartment essentially means there’s no money coming in to help cover the costs of owning the property. So, when one tenant moves out (or a new rental property is acquired), landlords and/or property managers need to work diligently to find a suitable tenant to fill the vacancy.

 

Finding eligible, long-term tenants is a multi-faceted task that can take days, weeks or even months to accomplish. To begin with, landlords need to make sure that they’re offering a property that tenants are interested in renting. Below, are a few suggestions on how to make your rental property more attractive to potential tenants.

 

Curb Appeal

 

If a potential renter were to drive past your property for rent, what would they see? Image is everything when in real estate and those looking to invest in a place to live are easily swayed by appearance. If the outer appearance of the unit isn’t up to par, they’ll move on to the next.

 

You can give your rental property some curb appeal without breaking the bank. Take a look around outside to see what needs to be fixed. Then, visit Nature’s Seed and find grass seed to fill in brown or bare patches of grass on the lawn. Doors, shutters, and other chipped features can be painted. You can also add a few planters with easy to care for plants for some color and presentation.

 

Interior Paint Job

 

Prospective tenants will want to schedule a walk-thru or viewing to see the house or apartment before deciding whether it’s the right place for them. To make your rental property stand out and capture their attention, the interior must look just as attractive as the exterior. One of the simplest ways to give the inside of your rental property a “facelift” is to apply a fresh coat of paint.

 

Instead of going with a traditional white or eggshell paint color, wow your tenants by going with trendy, yet neutral paint colors. A nice light gray or tan, for example, would work very well throughout the property. They pair well with most colors while also bringing a bit of uniqueness compared to other “basic” rentals.

 

Update the Flooring

 

A fresh coat of paint on the walls can give a rental property an appealing look and vibe, but if the floors are a mess, it will ruin everything. Take a look at the floors in your rental property. Are the carpets old? Are their floor tiles missing or damaged? Are there a lot of scuffs on your hardwood floors? If the answer is yes, consider solutions like removing the carpet and installing tiles, having the carpets deep cleaned and steamed, painting or restaining hardwood floors and buffing out any scrapes or scuffs.

 

Renovate the Kitchen and Bathroom

 

The kitchen and bathroom are often referred to as the selling points when trying to persuade someone to buy or rent a property. Renters who intend to live in a rental unit for several years prefer to move into a place that’s up-to-date. If there was any spot in the property to invest in, the kitchen and bathroom should be at the top of the list.

 

You can update your kitchen or bathroom fairly cheaply. You can replace floor tiles, install a new mirror, change out fixtures like the faucet and showerhead, put up a new backsplash, and paint. If necessary, invest in newer appliances as it adds appeal and saves the renter money on energy costs - both of which help your rental property to stand out.

 

Quality Pictures

 

After you’ve finished cleaning and updating your rental property you’re ready for the last step - taking photographs. Pictures really are worth a thousand words and will get renters excited to see your home or apartment for rent. Take detailed pictures of each room in the house as well as the property’s exterior. Then, find one or several rental property directories or websites to advertise your vacancy on. Upload the photos, provide a brief description, and wait for the requests to come rolling in.

 

Whether you’ve just acquired a rental property or your old tenant moved out, you need to find the right tenants to occupy the space on a long-term basis. In order to do this, you must master the art of being able to make your rental property stand out. Incorporating attractive features and DIY hacks like those described above help to modernize your space and draw interested parties from all over.

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Rainmaker
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Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

These are all good ideas on how to make your rental property appealing to tenants. I have a client who is looking for a rental home. A new one came on the market and she drove by it and said, "No way, I don't even want to look inside. Looks like a dump."

 

May 15, 2019 03:17 AM #1
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Rainmaker
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Nick Marr

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