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Landlords like yourself are increasingly wary of renting out properties to less-than-ideal tenants. Such tenants can cause significant monetary losses as well as anxiety and stress. The wrong renter may stop paying rent, damage your property, or use it for undesirable or illegal activity.
You must optimize your property to attract quality tenants that pay top rental rates. Remember, with renters; the first impression is often the last impression. Unlike homebuyers, tenants aren't looking at your property's potential — they're looking at what state your property is currently in.
Try some of these steps to optimize your rental property for high-quality tenants:
#1 Virtual Marketing
High-quality renters nowadays often tour properties virtually before visiting them. You can hire a staging company to stage your home and capture video for potential tenants to look at online. If that seems excessive, consider taking detailed digital pictures of the home with proper lighting.
#2 Call Pest Control
Even if you have the best-looking rental property in town, pests like pharaoh ants, carpenter ants, mice, rats, and nasty-looking bugs will scare off any renter.
Many landlords don't realize they have a pest problem until it's too late. Your best bet is to call a pest control business that can ensure your property is ready before tenants come for viewings.
When looking for pest eliminators, please ensure that they use environmentally friendly pest control methods for the safety of your tenants, their kids, and their pets. In Canada, only the best Toronto pest control companies commit to protecting the health and wellness of clients through science-based pest control solutions.
#3 Hire a Landscaper
High-quality renters will notice if your lawn and backyard need attention. You can do it yourself or hire a landscaper to take care of your grass, bushes, and trees. Also, consider beautifying your property with cost-effective upgrades such as planters, flowers, and more.
#4 Upgrade
A home that needs a repaint will struggle to command high rent.
Your previous tenants may have left marks on the wall when moving their furniture, paintings, and picture frames. Their kids may have left a few handprints.
Paint the outside, inside, doors, and window sills as necessary.
Consider upgrading the fixtures on the property, too, to modernize them. You can also add new appliances and some smart home technology to renovate your home further.
#5 Repair
Look out for cracks or unevenness. Every driveway needs maintenance and repair every few years. Not only will a mended driveway look good to a potential renter, but it can protect you from liability concerns. For example, a pothole in the driveway may hurt a tenant, damage their vehicle, or hurt a pedestrian.
In addition to the driveway, repair the kitchen, bathrooms, and other areas that need attention. Remember to replace the bulbs, especially if you have tenants visiting at night.
High-quality tenants that pay top dollar for rental homes expect to see high-quality homes. Make the right investments to generate maximum and uninterrupted rental income from a reliable renter.
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