To earn the most money and place well-qualified tenants, you need to present your home in its best possible condition. Today, we’re talking about some of the most important things property owners need to consider when they’re putting their property on the rental market.
Neutral Colors Inside the Home
Make sure the interior is relatively neutral. If you have a new property coming onto the market and there’s some burgundy or teal or yellow paint on the walls, it might not appeal to your renters. Have natural paint throughout, and keep it looking fresh and clean. You also want to have neutral floor coverings.
Pay Attention to Curb Appeal
Curb appeal is important to prospective tenants. The exterior of the building must be clean and in good repair. First impressions are really important, especially in this market. The home needs to look good. Owners might want to think about facing their front door and looking at the home as if it’s the first time they ever saw it. It’s easy not to notice the cobwebs and the chipping paint on a light fixture. But, tenants will notice. Present the home well so you can attract a long-term tenant.
Establishing Expectations for the Property’s Care
You want the property to look appealing, and you also want to set the stage for how you expect the tenant to take care of the home. If a tenant sees a home in disrepair and weeds growing in the yard, that tenant will think the owner doesn’t care how the property looks. If you want a tenant who will take care of the home, give them an attractive property.
DIY vs. Professional Vendors
Some owners may not think about this, but every day that your property is vacant is a day that you’re losing money. This is the benefit of using professional vendors to get the property ready. They can have it done in a matter of days. If you think you’re saving money by not hiring vendors and doing it yourself, remember that a longer vacancy can be more expensive. If you have a full-time job and can only work on the property on weekends, you’ll end up losing more money than if you had hired someone to help you get the job done.
Preparing your home for the rental market is similar to getting your home ready for sale. Present it in the best light you can, and in a condition you’d want your tenant to return it to you.
If you have any questions about how to prepare your property for the rental market, please contact us at Invest West.