Appealing to Renters: Property Improvement Tips for Owners
Article by: Hal Salazar
Finding tenants is easy. More people than ever are renting, which has created a huge amount of demand in the market. However, finding good tenants – the responsible, trustworthy, worthwhile kind – however, can take some doing. But, as with any business, maximizing profits is the name of the game.
So today, Bryan Lincoln Real Estate shares some tips and resources to help you spruce up your property, as well as extra amenities you can add to help attract the kind of tenants you’re looking for.
Repair and Maintain
As a landlord, says RentPrep, you’re legally obliged to keep your property habitable. This involves offering trash receptacles, following building codes, providing running water, and maintaining vital services. To score extra brownie points with your tenants, you can clean it, organize, add in a fresh coat of paint, replace fixtures, and generally keep it in top shape. There’s a difference between good and great.
Consider Adding In-Demand Amenities
The best tenants want the latest amenities, and without a doubt, the top three amenities renters are looking for are extra space, community areas for work and socialization, and reliable and fast Wi-Fi. Other amenities like game rooms, swimming pools, gardens, and outdoor seating are also in demand. Having a high-quality kitchen and bathroom is also a good idea. And here’s some good news: additions like this have the added benefit of raising the property’s appraisal value, so in addition to attracting renters, they’re a big financial benefit in the long run, too!
Beautify and Decorate
You can do more than add amenities – you could also decorate and beautify. This is less expensive than costly upgrades and potentially just as impactful. Some suggestions from Style Curator are adding houseplants, rugs, paintings, better lighting, curtains, wallpaper, and a gallery wall. You could also potentially add in furniture and list your property as semi-furnished or furnished.
Create an Attractive Listing with Photos
You have a good property – but potential tenants don’t know that yet. You have to actively market and raise your property’s visibility. One of the most effective ways to do so is to create an attractive listing (on one or more platforms of your choice), and then back it up with high-quality photos. The listing should include pertinent details and a high-quality description of your property. The photos must highlight the property’s best features, and generally make it easy for renters to imagine themselves staying there.
Advertise Using a Range of Channels
You are likely to find only a limited number of potential tenants through listing sites. For the best results, advertise and market your property through a range of channels. Join rental groups, get in touch with real estate agents, and consider releasing an ad through print media. Make social media, especially, a priority: It makes your listing easy to find and share (people love to recommend appropriate places to family and friends).
For instance, you can quickly generate graphic-rich infographics through an online infographic maker. You can design custom infographics that create the listing to your liking, adding logos, branding, fonts, and colors. You could really make it pop with high-quality snapshots or other images to make your listing stand out more.
Consider Hiring a Property Manager
Being a landlord is more work than it sounds. You have to actively manage and be there for your tenants – it’s not a one-and-done deal. It also involves keeping the property in good shape, long-term. You could delegate all these responsibilities to a property manager. They specialize in managing properties (and tenants). It can be expensive to hire one, though. You also have to find an experienced, responsible person.
Respond to Inquiries Personally
Last but certainly not least, make sure you’re available for tenants interested in your property. Remember that they are interviewing you just as much as you’re interviewing them. By being available and open to answering questions, you come across as a good landlord to have. The human touch matters.
Being a landlord involves other legal considerations and obligations. Do your homework, make sure you don’t drop the ball on critical details, and focus on building a solid reputation. Expect people to research you online before doing business with you. Having a good reputation, backed by a solid property, is how you attract great tenants.
Bryan Lincoln Real Estate strives to be the most customer-service focused real estate brokerage in California! Call 916.469.9540.
Image via Unsplash
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