You want to make sure that your rental property doesn’t remain empty for too long. It’s important to make your rental stand out among the many others on the market to get a tenant as quickly as possible. Renovations are a good idea, but you can also do smaller projects to ensure your rental is snapped up. You can also talk to your agent about how to choose a property management company to help you manage your rental properties. They can assist you in managing the showings, finding renters, running background checks on potential tenants, setting up cleanings and maintenance for your property. These are just some of the benefits of hiring property management professionals.
Make Your Space Sparkling
You may not be using your rental, but it doesn’t mean that you should ignore maintenance. Nobody wants to enter a home that has cobwebs in the corners or toilet rings in the toilets. The same goes for the musty odors of empty homes. You can either give your rental a thorough clean or hire a local professional cleaning service to get it ready for potential viewers. Having a home that is clean and smells fresh can make all the difference.
Brighten up the living space
Don’t be tempted to use the latest, bold colors. Soft neutrals will not detract from your space, and give prospective tenants a better sense of its size.
Don’t stop at paint. Another way to brighten the room is by giving your flooring a thorough cleaning. Scrub tile and linoleum flooring until they sparkle, and find ways to let in more natural light.
Boost Curb Appeal
When it comes to curb appeal, a neat lawn is only the first step. Trim back shrubbery to give your yard a natural look and feel. Add flowering bulbs and perennials to your rental property yard.
But don’t go crazy with the landscaping. It can intimidate potential tenants. You can keep the landscaping simple if you want the tenants to take care of the yard. You can hire a professional local landscaping company to maintain your yard on a regular basis.
Add a Security System
Installing a home security system is a great way to benefit your tenants and your insurance. Insurance companies often offer discounts to homes that have monitored security systems. Potential tenants also appreciate the added sense of security in a home equipped with a monitored system. Many modern security systems can be managed more easily than ever before thanks to smart home integration.
Stage Your Home
Contact a local staging company if you are hesitant to rent out an empty house. They can give it a lived-in look. The staging company will furnish your rental home with furniture and décor to make it look comfortable and inviting to potential tenants. Home staging services are not cheap but they can offset the costs of home staging by saving money on utilities and mortgage. A property management company can help you find a company to stage your home without breaking the bank.
Simple Updates
It doesn’t take a complete renovation to give your rental property a new feel. Even minor updates can make a big difference.
Replace outlet covers and switchplates. Update faucets and sink fixtures. Or replace ceiling fans and miniblinds that are out of style with modern alternatives. These small changes can transform a room without costing a fortune or breaking the bank.
Renovations where needed
Renovations to your rental home, especially the kitchen and bathrooms, are a great way to increase its rentability. Upgrades to outdated appliances, cabinets, and countertops will make your rental property’s kitchen look more modern. Changing out outdated toilets, bathtubs, and bathroom hardware will also give it a new, comfortable appearance.
Add Storage
Storage is a must, whether you’re adding decking in the attic or garage, or expanding the master closet. Storage upgrades are especially important in older homes, where closets tend to be smaller than those in newer construction. They will also appeal to families who want to move from an apartment.
Conclusion
As you can see there are plenty of budget friendly options when it comes to updating your home and getting it ready to rent. Following the above mentioned suggestions will make your property stand out and help you rent it out faster. Make sure to talk to your agent about how to screen potential tenants before you rent out your newly updated property.