The American rental market is improving. That’s great news, but it’s no guarantee. Landlords still have to be competitive in order to secure tenants. It takes more than just posting an ad to find a great tenant; you have to compete with the other rentals in your area.
Based on statistics, we know that the properties that have the highest rates of vacancy are the properties that have not been well-maintained. That’s not much of a surprise. If you want to keep your vacancy rate low and get the best price for your property, you need to make whatever improvements to the property that you possibly can. You want a clean, well-maintained place to live, right? Tenants are no different. It is also important to note that any repairs or improvements should be made before you show the house to a prospective tenant, not after. Prospective tenants don’t want to hear that you’ll fix that broken toilet later. If you don’t bother to make repairs before trying to convince someone to rent the place, why should tenants believe that you’ll take better care of it after they sign the lease?
Obviously, any items that are broken, like toilets, ceiling fans, or appliances, should be repaired before you show the property to a prospective tenant. In addition to basic repairs, there are five simple improvements that you can make to your rental property that will help you secure tenants.
Create curb appeal. Many potential renters will drive around neighborhoods and check out rental properties from the distance of their car before they actually make an appointment to view the inside of the home. If the exterior of the home doesn’t look good, those potential renters will never even bother to call and make an appointment to see the interior. Create as much curb appeal for the property as possible. Start by cutting the grass, edging along sidewalks and driveways, and planting colorful flowers. Make sure that there is sufficient exterior lighting, too.
Stage the space. You don’t necessarily need to hire a professional to stage your home if you stick to some basic rules. Remove furniture that is too large or makes the space feel crowded. You want the potential tenant to be able to imagine living there, so remove any personal items. This can include family photos, toys, and products that might be left out on the countertops. Be sure to get rid of any clutter, like stacks of newspapers or bills that might be laying around.
Add a fresh coat of paint. Any space feels newer and cleaner when you add a fresh coat of neutral paint. Stick with shades of white or beige.
Keep the floors clean. Tenants always pay attention to the flooring in a space, so make sure that the flooring shows well. Clean the floors before every showing, and repair any damaged areas. If removing worn or stained carpet is an option, it will certainly be worthwhile to do so.
Turn on the lights. Nobody wants to live in a space that feels dark and depressing. Open up all the curtains and blinds and turn on all the lights before showing the space to tenants. For after-dark showings, be sure that the walkway is well lit and that the porch light is turned on so that visitors can easily find the property.
McMath Realty provides property management services in Phoenix, Scottsdale, Mesa, and surrounding areas. We will take care of all the details of renting your property, from showing the space to prospective tenants to handling maintenance and collecting rent. Get in touch with McMath Realty today to learn more https://mcmathrealty.com//contact.php.