Tips on How to Make Your Rental Property One to Remember

If you’re a property owner, then you’re probably well aware of the long-term income earning potential that goes with renting your property out to tenants. However, you can only charge what the property is worth. And for tenants, choosing to stay and rent your property will often come down to how appealing it is to them. That said, if your property could do with a bit of TLC, here are some tips from The Listing Team to help you revamp your rental property so that it’s one to remember.

 

Address Curb Appeal

 

The curb appeal of your property is the first thing tenants will lay their eye’s on before entering the door, so it’s best if it’s eye-catching. Here, you want to pay attention to the neatness of the lawn, make sure that the fencing looks in pristine condition, as well as pay a fair bit of attention to the exterior of the home too. For example, your property may require a new coat of paint to make it stand out more. Or maybe your roof tiling and gutter need replacing. It’s small details like these and more that a tenant is likely to remember for a long time.

 

Address Your Property’s Indoor Aesthetics

Of course, the overall look of your property will impact a tenant's decision to rent your property or someone else’s. That said, there are few areas within your property that are likely to get the most attention, which makes paying attention to these even more vital.

The bathroom and kitchen are two of the most important areas of a home. As such, they deserve a bit more attention to ensure that they look in mint condition. For example, installing a new bathtub can make a bathroom feel instantly brand new. Replacing fixtures such as taps, cabinetry and mirrors can too.

The kitchen is always a point of interest for renters and buyers alike. If you don’t want to spend a fortune, be strategic about your upgrades and DIY what you can. Swapping out outdated hardware and faucets, and painting the cabinets can make a big difference.

 

Complete Repairs and Maintenance Issues

Of course, safety should always come first when making your property move-in ready. And as a property owner, it is your job to make sure any repair and maintenance issues are addressed promptly. For example, check that the condition of the electrical wiring is up to scratch, and make sure that the HVAC system works as it’s meant to. Moreover, you’ll need to ensure that your property is as safe as possible, i.e. that the doors and windows can close and are lockable, there are no water leaks either from the roof or from leaky taps, and that the place is not crawling with bugs.

 

Ask for Help

Perhaps you know you can’t achieve the desired outcome all on your own, in which case it may be better to ask for help from the professionals such as a landscaper, interior decorator, or a property manager to make sure your property is ready for viewing.

 

Marketing Your Property Well

Of course, you’ll need to spread the word about your rental property. But with so many properties on the market, how can you make yours stand out? Start by researching comparable properties in the area. Even information about homes for sale can help you refine your marketing approach. Look specifically at listings that are comparable to yours so you can understand what they are featuring and what price is being advertised.

If you know who your ideal tenant is (e.g., families, young professionals, seniors), then tailor your marketing efforts accordingly. You can also highlight the property's best features and what makes your property special. Make sure to use well- written and eye-catching marketing materials. If you’re spreading the word via email or social media and you want to tweak your materials, try a PDF editor online to make any changes in moments for free, rather than investing in expensive software.

Also, consider adding walk-through videos to your marketing posts to show off your property. It’s easy to shoot video with your phone and learn how to merge videos online. You can upload footage that you’ve shot and edit clips together with eaze. Once you have a video you’re satisfied with, you can download it or link to it for marketing purposes.

 

Register Your Business

If you are thinking of registering your business, it’s always better to ensure that your company has limited liability to protect your personal assets. Look into how to start an LLC, which is the most common business structure because of its protection features and reasonable cost. There are specific requirements depending on the state you’re filing in, so be careful to file the correct paperwork. You could use a lawyer to handle the registration process for you. However, choosing to use a formation service to register your LLC may actually end up being more cost-effective. 

 

Make it One They’ll Remember

Getting your property ready for tenants can be super exciting. Just be sure to cover all the bases, such as making repairs, enhancing your property, marketing, and registering your business. Do your research on the market in your area so that you have peace of mind that your property really is the best on offer compared to your competitors.

The Listing Team provides everything you need to buy or sell a home in South Florida and the surrounding areas. We’d love to hear from you!