Did you purchase a home as an investment? Are you having trouble finding someone who is willing to pay you rent?
Many people, especially millennials, choose to rent rather than buy as they transition into adult life. So, what can you do to make your home irresistible to people who are looking to rent?
Fix Up the Outside
First impressions matter. If a potential tenant drives up to your home and it looks awful from the outside, they will not come in to see the inside.
Create a positive first impression by:
- Keeping recycling bins and trash cans out of sight
- Adding some plants or flowers in the entrance to your property and by the door
- Mowing and raking your lawn to keep it well-manicured
- Removing and repairing broken banisters and torn window screens
Add a Fresh Coat of Paint
Painting the interior and exterior of your home is one of the most effective ways to transform any house.
Your goal is to ensure that your property appeals to the masses. You might think bright yellow kitchen walls is cool, but most people will not.
It is best to stick to neutral and clean colors. Also, remember that lighter colors make spaces look larger.
Let There be Light
Have you ever walked into a dark room and feel like you just walked into a dungeon? You do not want potential renters to feel cramped in the places where you want them to live.
Add lighting fixtures or lamps to small and dark rooms to make them look and feel more open and larger.
Another idea is to add a few mirrors in strategic places to help augment the light.
Hire a Professional Cleaning Company
Homes that look and smell clean are more appealing to would-be renters. The kitchen, bathrooms, walls, blinds, vents, and floors must be spotless.
Consider hiring a professional cleaner for a deep cleaning service to ensure everything in your home shines.
Do not forget about odors left by previous renters. Some odors that have accumulated on the walls can be covered up by a fresh coat of paint.
For others that are not, open the windows and put trays of baking soda in inconspicuous places to absorb bad odors.
Upgrades and Renovations
Put yourself in a potential renter’s shoes. Would you want to pay rent to live in an old and rundown home if you can find one in better shape for the same price?
Anything you can do to make your property more appealing will help attract more renters who are willing to pay you the amount of rent you want.
When people decide where to rent a home, they are also looking for the right location and neighborhood that offers features important to them, such as good schools and proximity to where they work.
There are several areas in the suburbs of states like Los Angeles that do not have many empty lots. It would help if you considered consulting with custom home builders in Los Angeles to get ideas about renovations and remodeling to make the old look fresh and new.
Other states that also have minimal empty lots include Austin, Boston, Seattle, Washington D.C., and New York.
Update Your Appliances
If a full remodel or renovation is beyond your budget, spend the money you do have wisely. Try updating your appliances such as the refrigerator, stove, washing machine, and dryer.
Renters are not going to want to put their food in a dingy looking refrigerator or their clothes in a rusty washing machine.
Spending money on new quality appliances adds value to your home. They are more efficient than older ones, so they cost less to use.
Do not Overlook the Small Details
Little things that you might not think matter, are noticed by potential renters and add to the overall look and feel of a home.
Light switches, doorknobs, cabinets and drawer pulls, and electrical sockets should be secure and safe. If they are not, updating them is not cost-prohibitive and relatively easy to do.
If you have any loose or cracked switch and socket covers, not only do they not look nice, they can be dangerous.
Are your window coverings, lighting fixtures, and shower curtains moldy or dusty? If yes, repair or replace them.
Are you renting your home fully furnished? If yes, make sure every piece is clean and in good shape. Replace shabby furniture with new pieces.
When listing your home for rent, emphasize its positives. Check out the competition to see what they are offering.
If a rival property is boasting a totally renovated kitchen and yours is ten years old, sell other features that your home has and theirs does not.
Perhaps you have a patio in the backyard or floor to ceiling windows. Sell the features that make your home unique and stand out from the competition.