How to Make Your Rental Property More Attractive
Have you ever thought about how to make your rental property more attractive? You’re leaving a lot of money on the table if you don’t take care of your properties. If you want to increase the value of your rental property, our New Jersey relators are here to help.
Exterior Home Improvements
The most basic way to increase the value of the property is to update it. This is a strategy many real estate investors use when they buy older and less appealing properties. They renovate the outdated properties and either sell them or keep them as rental properties.
If you’ve ever heard the phrase “you have one chance at a first impression,” it works not only with people but also with properties. Since you never get a second chance to make a first impression, we recommend making exterior improvements to your rental property to wow your prospective buyers are first sight. You can make simple improvements to improve the curb appeal of your rental property by:
Painting the front door
Replacing the mailbox
Getting new address numbers
Mowing the lawn
Trimming the shrubs
Interior Home Improvements
Bathroom and Kitchen
Potential tenants look into many rooms when visiting your property, but the two most important rooms every potential tenant checks are the bathroom and kitchen. The kitchen is the room people spend the most time in, they don’t want it to feel like a dump!
Focus on investing in these rooms to make sure that they make a great impression on potential tenants. Granite is about $15-20 more per square foot than laminate, and it is worth the price because it helps your property get rented quickly. Don’t use bathroom tub surrounds, they’re garbage. Our renovation consultants in New Jersey always suggest tiling your bathtub. A few extra expenses now lead to a smooth running rental property later on, and more importantly, the interior home renovations to your kitchen and bathroom make your home more attractive!
Keep Your Home Clean
As we already mentioned with the bathroom and kitchen, keeping your property clean is a must, since it also plays a role in the first impression. Keeping a clean home for showing can be challenging if you have a filthy tenant. That’s why our property management team in New Jersey schedules quarterly inspections with the rental properties we manage here in NJ. If we feel the tenants are going to attract vermin, we will hire an exterminator and bill them for that service (this is written into their lease). Make sure you check the property to make sure it’s clean before showing it to potential tenants. Pull weeds or pick up any trash that is out front. All these little things matter!
Take Quality Photographs
The way you take pictures of your property can be the difference between finding a tenant and not finding one. We recommend you invest in a nice camera or one of the newer smartphones. It could indeed cost a few hundred dollars, but it can make your property look exponentially more attractive.
Updating your home, cleaning, and great photographs are some of the main ingredients in the formula for attracting renters to your rental property, getting it filled, and keeping tenants happy. Don’t ever skip out on quality!