A vacant rental property is bad for business and your investment. Landlords and investors want high occupancy rates, which require tenants to stay in the property for as long as possible, and the property to attract new tenants soon after one leaves. When getting a property ready to rent, there are a few things you can do to make it more attractive.
Give it a Fresh Coat of Paint
A coat of paint makes a massive difference to how bright and large a unit seems. It can also make older properties and ones that have had long-term tenants look much better. For the best results, stick to light, neutral colors like cream, beige, and light gray.
The light colors reflect light from natural and artificial sources, making the unit seem bigger and more welcoming. Additionally, they make it easier to decorate the unit because they go with most of the colors and textures your tenant will choose for their furniture and decor.
Fix Everything
It is important for every landlord, property owner, and investor to check out a property thoroughly after a tenant leaves and fix whatever needs fixing before putting the property on the market. Potential tenants will notice if you do not take care of the property, and thus, they become less likely to want to live in it.
Start by fixing any issues on your walls, ceiling/roof, and floors. Remember to check the doors and windows for potential issues. Then, move to minor fixes like light switches, power outlets, doorknobs, and drawer pulls.
Provide Fiber Connectivity
The internet has become central to most things we do today, including working, enjoying our favorite shows and movies, learning, consuming news, and keeping up with friends and family on social media. For this reason, rental properties connected to the internet have become very attractive to new tenants.
Most people want to avoid incurring the cost of having a fiber connection installed, but they enjoy the convenience of having one. You can get next-gen fiber optics for multi dwelling units to make your rental property more attractive to tenants. An added benefit of doing this is that current tenants will be more likely to stay because they might not want to or be able to find properties with a fiber connection like this.
Upgrade the Kitchen and Bathroom
Whether renting or buying, people judge a house on the state of its kitchen and bathroom. If you have some money to make major changes, upgrade these two. New countertops, backsplash, toilets, showers, and bathtubs make rental properties more attractive.
If you do not have the budget for such significant upgrades, upgrading the appliances and fixtures can go a long way.
Have it Commercially Cleaned
Commercial cleaning goes much deeper than typical cleaning, so hiring a commercial cleaning company before a new tenant moves in is a good idea. Ensure the company reaches every space in the house, so that everything sparkles. Commercial cleaning will allow you to rent to high-quality tenants and can justify a higher rent.
Attracting tenants, especially in areas with a lot of competition, can be challenging. You need to give your rental property the best chance of attracting the best tenants, and the best way to do so is to ensure your property is attractive to potential tenants.