The purpose of investing in a rental property is to make money, but what happens if you can’t find tenants to rent your house? Just as a homeowner works to make their house look desirable in order to gain interest and be able to sell it, property owners must also take steps to make a rental house interesting for potential tenants. Even with the help of reputable Northern Colorado property management services to help you get your house rented, there are still many affordable home upgrades that you can do as the property owner to gain renter’s interest.
One of the easiest and most affordable ways to upgrade a rental home is to roll out a fresh coat of paint. Whether you do the job yourself or hire a professional painting service, painting the interior walls (or the exterior if it really needs it) can transform the look and feel within the house. Clean crisp walls painted in light neutral colors will engage potential renters and allow them to envision their own belongings in the home. Especially since many rental agreements don't allow tenants themselves to paint or make other changes to the property, they'll be more interested in a rental that is kept updated by the property owner.
For property owners who choose to hire a property management company, they can rest assured that the necessary maintenance and upkeep for their property will be in good hands. This may include repainting walls between tenants as necessary, as well as other maintenance tasks.
First impressions can make a big difference. The first thing a potential tenant sees is a picture of the exterior house on the rental listing. Likewise, the front of the house and the front yard are the first things they notice when they pull into the driveway for a showing. Rental properties can often be infamous for being the house in the neighborhood that isn’t maintained as well as the others. The quickest way to get a renter interested in your property is to invest in improving or upgrading the curb appeal of the house.
Some of the simplest and most affordable things you can do are to pull weeds, trim trees or shrubs, clear out spider webs, and sweep the walkway. To take it up one more notch, you might consider replacing any outdated or rusted exterior lighting fixtures, painting the front door, or adding more appealing landscaping.
Appliances are one of the first things renters will notice. Old, outdated, dingy, or mismatched appliances are not visually appealing and in turn often lead potential tenants to pass on your property. Renters want a home they can envision themselves entertaining guests in, but more importantly, they want to be reassured that the appliances they will use on a daily basis will function properly. Investing in a high-quality, matching appliance package is one of the best things you can do to increase the appeal and interest of your rental property. New appliances will be a more costly upgrade, but it will definitely be worth the price.
Often, another turn off for renters is outdated fixtures throughout the house. Faucets with years of hard water stains or poor quality ones with rust spots will make the home feel old and can even cause renters to question the quality of the home in general. You want to choose quality fixtures, but that doesn’t mean they have to be the most expensive. Home improvement stores such as Lowe’s or Home Depot have a variety of affordable faucets to upgrade the look of your bathrooms and kitchen.
Lighting fixtures such as sconces, ceiling lights, or vanity lights can also affect the visual appeal of the home. Be proactive about replacing fixtures that have cracks or obvious wear. Many fixtures have good design, but simply need a little TLC. Sometimes a good cleaning or some paint is all you need to transform an outdated lighting fixture.
Another affordable upgrade that can make a difference is to replace those brass doorknobs on bedroom doors or install new handles on cabinet doors. Doorknobs can make an old door look new and add better functionality. While door handles on cabinetry may seem like an insignificant upgrade, they can actually make a substantial difference in even the most basic kitchens.
Replacing cheap vinyl mini blinds is another easy way to upgrade the look of your rental house. Blinds do more than block out that bright afternoon sun. They provide privacy and even add a decorative touch. Faux wood blinds can be purchased to match the existing trim and create a more sophisticated look. They can be used to dress up a window just as window treatments would and by installing those in the home, you provide renters with a room that looks put together.
For more ideas on important property upgrades you can do as an owner of a rental home, click here or for a list of cost-effective DIY projects that will fit in your budget and improve the space, click here.
If you feel overwhelmed at the thought of maintaining your rental property and keeping it appealing to potential tenants, it may be time to consider hiring a professional property management company to take the burden off your shoulders. Contact All Property Services today to learn more about what we could do for you.