The competition for the renter is high and naturally you want to rent your home quickly. Smart landlords are making investments in their properties that will cause them to stand out. Renting a home is no different that selling one. Your prospective renter wants the same things a buyer will! They are looking at the property as a home and the winner will often reflect the owner who recognizes the importance of spending funds to keep their properties competitive.
Just like a home seller, spending funds on the wrong improvements is a mistake to be avoided. The problem is how does an owner know what will be successful? You need somebody who recognizes what will lease your home in the local community. This is one of the huge benefits of hiring a leasing company.
We can make some suggestions that are universal.
Exterior Appearance
If you want to get people inside your perfect rental, you need to spend money on the exterior. The landscape needs to be well maintained. This does not mean lots of landscape, it means whatever exists is well maintained. Additionally, overgrown landscaping distracts from the entrance and can also be a safety hazard. Too little landscape is a different problem. Invest in making your home look like something that you would stop and take a look at if you were looking to rent.
Cleanliness
I get frustrated when I walk into a home that is dirty. Sometimes, a home has to be cleaned more frequently and I would not avoid keeping a cleaning staff ready to go. Again, make the standards the same you would use if you needed a place to live. Cleanliness is often given as a primary factor to rent a home quickly.
Don’t Overlook Lighting!
Lighting is often an issue. Do everything you can to make sure bulbs are replaced when they burn out and that dark areas of a home have good lighting.
Privacy
If you are renting a home, please invest in blinds! Tenants do not want to hang blinds and you do not want them to either. I have seen tenants rent one home over another due to the lack of privacy and thought that they needed to create a solution (towels over the windows don’t look great in most communities).
Appliances
Include appliances that work and preferably are modern and (here it is again) clean. We just took on a property for lease with a stove from 1980 and the oven is so dirty the owner has been told to replace it or make tenants bring their own. By the way, tenants bringing their own kitchen appliances is full of problems. Seriously, if you want to rent your home quickly, people need kitchen appliances. Most of the time do not keep them around waiting to be moved into their next home.
Safety
Safety features are appealing. An alarm system is a desired upgrade. Let the tenant pay for monitoring but provide the hardware.
It’s simple really. If you want to rent your home quickly, then think like your prospective tenant. Spend a little to make a lot.
