Buying a house and fixing it up to use as a rental property can be a great financial investment. According to US News, now is a great time to invest in a rental property as renting has become more appealing since more people are choosing to wait to buy. You may be feeling nervous if you’ve heard horror stories of terrible tenants, but you can make some changes to your home to help attract the right people. Let’s go over some of the ways that you can make your rental property attractive and stand out.
Update and Repair
One of the biggest issues with rental properties is that turnover of tenants can cause more wear and tear on your home than normal. To keep your property appealing to new renters, it’s important to first inspect the entire house for damage or anything in need of replacement. Check major appliances to ensure they are in proper working order, but also look at details like your light fixtures, faucets, and cabinet hardware. According to LifeHackr, these little details make a big impact in helping a rental house feel more like home. They are low in cost and easy to DIY, so take the time to make these little efforts. Another replacement you should prioritize is the carpet and flooring. Carpet wears over time, and just as old, grubby carpet is an immediate turn off to a potential renter, a brand new carpet is extremely appealing. Better yet, consider removing the carpet and installing hard flooring. Not only will this hold up longer, but it can be a major draw for potential tenants.
Make Your Property Stand Out Against the Competition
With other rental homes on the market, you need to make your house stand out against the competition. The first impression of your home starts on the outside with your curb appeal. Make sure your lawn is trimmed and healthy, plant attractive landscaping, and freshen up the paint on your front door. According to Better Homes and Garden, while neutrals are always a safe bet, you can choose to go bold with your front door as long as the paint is high quality and the color matches the style of your home. On the inside of your home, your house needs to be sparkling clean. It helps to give everything inside a fresh coat of paint as well, sticking to neutral colors. Consider staging your home to really make it stand out against other rental properties in your area, highlighting its best features.
Consider Smart Home Features
If you are really looking to make your home attractive to renters, you may want to consider taking advantage of current smart home trends. One of the most common is a home security system. Having a pre-installed security system allows for easy set up by the future tenant and can give them a sense of safety in their new home. There are many options for you to choose, ranging from a full-home install to specific features like a smart doorbell or motion-activated outdoor lights. In addition to home security, there are also smart home devices that you can install that will lower utility bills. A lower utility bill is always an attractive feature to a prospective tenant.
With some extra effort and a little time, you can make your property shine. Focus on the little things, take care of any necessary repairs, and splurge on the extra details that will make your house stand out from the rest. Make sure to advertise your home well, highlighting its advantages. Point out the great amenities surrounding your home or the fantastic view from your kitchen window. Your beautifully cared-for home will attract the perfect tenants in no time!
Article written by Julian Lane