How to Make Your Property Irresistible to Renters
It can be difficult to market your rental property in a way that makes it stand out to potential tenants. After all, each of us has a different eye for what looks nice. However, there are certain rooms and features within a home that stand out to potential renters more than others. So, once you know what to focus on, the rest should come easy. Here, Castle Gate Real Estate Group explains how to make your property irresistible to renters.
Address Maintenance and Repair Issues First
It is the property owner’s duty to make sure that the rental is ready for occupancy. Therefore, the first thing you should do is determine if there are any maintenance issues or repairs needed on the property. For example, tenants want an HVAC system that functions properly. The same applies if there is an electrical issue that needs to be sorted out. Finally, ensure that the property is secure. You don’t have to provide a security system, but you should rekey locks and make sure that everything is functioning properly.
Don’t Forget to Clean Up
After you’ve made all the necessary repairs, make sure you give the property a thorough cleaning from top to bottom. This should include everything from cabinets to baseboards to the outside of your home.
You can also outsource these jobs so that you can focus on other aspects of your real estate business. In fact, GSC encourages landlords to have their properties professionally cleaned between tenants. Find a local house cleaning company for the interior, and consider hiring someone to pressure wash the exterior of the home, the roof, and the driveway.
Add Design Features to Impress Tenants
Your property’s design and decor are vital aspects of your marketing efforts. Therefore, focus your attention on specific features that can make a difference when it comes to improving the marketability and appeal of your property. Although we are told not to judge a book by its cover, potential tenants will definitely judge your house by how it looks.
● Boost Your Curb Appeal: First impressions matter a great deal. As Fortune Builders explains, when tenants arrive at your property, the outside is the first thing they’ll notice. Make sure what they see will make them want to see more. For instance, ensure that you have a neat lawn and beautiful landscaping to make a stellar first impression. Your building’s exterior should be fresh and attractive, too. Your backyard is also important and ideally will offer places to lounge and regroup. Think about redoing the patio or adding one if there isn’t one currently. Or perhaps you could consider adding a trellis as an extra feature that is sure to delight your tenants as they step out into nature.
● Focus on the Bathroom and Kitchen: Two of the most beautiful spaces in a rental should be the kitchen and bathroom. These are the areas that will catch a tenant’s eye first and can influence their decision to rent significantly. But you don’t have to go all out to make these rooms look eye-catching. It’s often the simplest modifications that can make a big difference, such as refreshing the paint color, adding an interesting or unique backsplash to an otherwise ordinary-looking kitchen, changing the faucets, installing new hardware, and so forth.
Market Your Property Well
Of course, you will need to market your property in a way that highlights the changes you’ve made. Take great pictures or hire a professional real estate photographer, and write up brief, but detailed, descriptions of the new amenities. Then, begin sharing!
Social media can work wonders at reaching a target audience on a massive scale. You could also use YouTube to advertise your property by creating live videos, as well as use Facebook ads to advertise your newly renovated property quickly and easily.
You can also create a flier to share with prospective tenants. Use whatever program you’d like to create the document, and then save it as a PDF. If you need to make any edits, there’s no need to start over; it’s faster with a PDF file editor, which you can use for free. These tools make revising promotional materials quick and easy, and there’s no need to print anything out.
Protect Your Assets by Forming an LLC
If you haven’t formally established yourself as a business, now is the time. Forming a limited liability company or a corporation offers legal protection for your investment. Not only does this protect your personal assets from potential lawsuits related to the property, but it also limits financial liability in the event that something goes wrong. It’s important to know how to incorporate in your state, since the requirements vary. The basics of registering your LLC or corporation involve steps including choosing a name, creating an operating agreement, and applying for an EIN.
Put in the Effort and Reap the Rewards
You can promote your rental property as is, but it is worth investing in your property — from doing repairs to hiring professional cleaners — to attract the best tenants. In fact, your investment in this property could end up generating far more of a positive return on investment than you ever expected. Just be sure to protect your property investment and your personal assets by registering your business as an LLC or corporation. In the end, your efforts can lead to a profitable property management business.
Whether you’re looking to buy or sell, Castle Gate Real Estate Group has the experience and professionalism you need to get the job done fast. Call 704-533-9387.
