If you own property for rent, any vacancy is lost revenue. You need to maximize the returns from your property. It means you want all your property rented out as much as possible.
If you are looking into attracting more and new tenants, what else can you do? Since each person has different likes and dislikes, this can be tricky. However, here are some tips that commonly work for most people.
KEEP IT CLEAN AND NEUTRAL
Even if the property is ten years old, if it is well maintained and clean, it can still be attractive. Cleanliness does a lot in curbing an opinion. Make sure everything is spotless and shiny when prospective tenants check your property out.
If the walls need a repaint, do so with a neutral color. It helps broaden the range of clients you can have. Yes, it may be fancy to have a bright neon green wall, but many might be put off by it. You may want to stick with tons of white like cream, or beige and gray.
MIND THE EXTERIOR
People say it all the time, never judge a book by its cover, but for renting properties, it does matter. You want your property to have a good first impression. It means the exterior must look good. Replace broken mailboxes, lights, or other fixtures outside.
Clean off shrubs, weeds, and unwanted plant growth. Decorate open areas like lawns, patios, and balconies with potted plants and flowers. You want the first look at your property to be very pleasing.
KITCHEN AND BATHROOMS ARE IMPORTANT
The first step you can do is to clean it thoroughly. Make sure every corner is clean and scrubbed. Mirrors, inside of cabinets, shelving, and others are clear of cobwebs and dust. Give a good scrub on the tiles, toilet, and sink. Make sure there are no stains.
After cleaning everything very well, you can now see if it needs some work. It may be simple as replacing some light bulbs or replacing hinges on cabinet doors. Maybe some paint or retiling is needed. It does not have to be a complete remodel, but make it look good and appealing.
POINT OUT YOUR UNIQUE FEATURE
Every place has a unique feature which can be its selling point. Do not focus on something that may dissuade your prospects from renting. It can be the new kitchen, good natural light all over, or even the location and proximity to a popular place.
A good property usually means good rental income potential. Ensure you have a very desirable property for renters, and as an owner. Protect yourself by having the right insurance coverage. At Mauser & Tobin Co., Inc., our mission is to ensure that we protect our clients and offer them policies that they can afford. Learn more about our products and services by calling our agency at (516) 747-0171. You can also request a free quote by CLICKING HERE.
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