How to Get the Most Out of Your Rental
When it comes to your rental property, the best way to ensure it is always filled is to make it stands out from the crowd and that you become known as a great and attentive landlord.
One complaint that renters often have is that landlords don’t have both of these qualities, even though they are relatively easy to accomplish.
If you are looking to improve your rental property or properties, here are some tips that will not help you get them filled quickly but keep them filled.
When it comes to furnished vs. unfurnished, the answer should always be furnished; however, this is much easier than you think.
Adding something from RJ Livings range of side tables, a bed frame or two, or something similar adds a level of welcoming to a home.
Not all renters are going to have furniture, and many may be put off by a relatively high-priced home that they will still need to fill. There is no need to break the bank, but including some furniture will make it that much more enticing.
Keep it Fresh
Always make an effort to keep the paint, tiles, carpets, etc., looking fresh. Paint and cleaning supplies aren’t expensive at all, and replacing a few tiles won’t take much money either. Simply ensure the home looks as new as possible between tenants.
Bringing in a cleaning service will also ensure that all the dust, water damage, mold, etc., is also cleaned out and removed. Dirty carpets and chipped paint will stand out much more in an empty room.
Upgrade the Kitchen & Bathrooms
The kitchen and bathrooms are two areas that tenants expect to be clean and hygienic, and, more importantly, up-to-date. Once again, small batches of maintenance will ensure you don’t have to rip out and replace them once every couple of years too.
If you have a garden space, no matter how big or small, don’t neglect it. Get a gardening or landscape service in to ensure the grass is cut, weeds are gone, and the flower beds are maintained. A landscaped lawn can also help increase the value of the property.
In addition, if there is a garden area, be more open to allowing pets, as renters will often be more interested if they know their furry friend has somewhere to play or they know they have the option to get a pet.
Storage is often a concern for renters, yet this is an easy fix. Ensuring you have enough cupboard space in the kitchen and bedrooms will boost the chances of renters choosing your property.
Add Helpful Touches
When it comes to adding a few special touches, there are no right or wrong answers. These can include anything from an alarm system to internet access.
It is important to remember that a renter is often looking for bang for their buck, as opposed to the bare minimum.
Allow for Washing Machines & Dishwashers
If you are in a position where you can remodel a kitchen, garage, or bathroom space, adding in the electrics and piping needed for a washing machine and dishwasher could be a game-changer for you.
Nowadays, most people either have both of these appliances or want them but can’t get them due to the house they are living in not having the needed facilities.
Don’t Forget Small Details
One area that many landlords tend to forget is maintaining or updating small details such as light fixtures, electrical sockets, door handles, locks, etc. This can be seen as a silly mistake as they are so cheap and easy to replace and improve.
Regarding electrical sockets, put serious thought into where they are and how they can be useful.
It isn’t good enough to just have them randomly placed around a room; instead, put yourself in the shoes of someone who would live there and decide where they would be the most useful.
Allow for Renter Additions
One rule that many landlords tend to have is that they don’t allow renters to make any type of changes or additions to a house. While there will be limitations, you should be a bit more flexible on this front.
If a renter has been in your space and sees that a particular room could do with some shelving or they want to add a curtain rail somewhere, this will not only improve their experience but will also add value to your property.
Renovate When Needed
While renovating obviously costs more, there will often be times when spending the money ensures you get more value in return.
As a landlord, you should never ignore renovating because it could cost a bit more than you think, or it will take longer than intended.
This is especially true if you have rented out a property for several years; you may discover that a particular space would look and feel better without a dividing wall, or you may want to add a pool.
Bigger renovations, such as building on an extra bedroom, will 100% pay themselves back, too, and should be considered if you have the money and space.
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