The number one goal of a rental property owner is to find good tenants. For this to happen, the property needs to be appealing and desirable. This article will give you 7 tips on how you can do just that.
1. Repair The Roof
Whether you’re a landlord with only one property or multiple properties, roof repairs are important to make because they can be expensive. If there is an exposed area that has significant damage and needs immediate attention then it may need to come out of your pocket for the fix – otherwise, wait until your next rental period when tenants pay their full security deposit back to do the work less costly. If there are exposed beams, you may want to get ceiling tiles in place for your tenant. If the roof is difficult to access yourself it might be a good idea to consider hiring roofers in Atlanta who can do a better job than what you’d manage on your own. The landlord was able to repair his roofs because he found out which contractor had done an excellent job fixing another unit he owned!
2. Repaint The Walls With Neutral Colors
Painting the wall’s neutral colors can help make a space seem larger. Repainting the rental property with neutral colors will help to expand/make it appear bigger.
Neutral colors can be used in small spaces, as they will not compete for attention with other elements of the room and won’t draw too much focus on themselves – instead of making them blend into their environment well. Furthermore, neutrals are inherently versatile so you have more flexibility when choosing your decor without having to worry about clashing or looking out of place within your home/apartment. The best options are whites, creams, off-whites (beige) & greys – these are also very popular choices amongst tenants due to being easily matched together meaning that you can also change the look of a room as frequently as you like without too much effort.
3. Add An Extra Window In Each Room
A window in a bathroom or bedroom can make it seem much bigger and more inviting to guests. This is a simple way to increase the value of your rental property without spending too much money on renovations.
You must add an extra window in each room of your rental property. This will allow more natural light into rooms, which can make the space feel more open and inviting to tenants. It also helps with cooling down the house on hot days by allowing breezes to flow through it. Renters won’t want to spend time or money adding a window because they will not receive a return on that investment, which means you should do it.
4. Get Rid Of All Old Furniture
If you have any pieces of furniture that are old and dented or broken, it is time to get rid of them. If the tenant has a child, don’t leave any sharp edges around as this can be dangerous. They will likely not want to pay for anything they consider personal property so you won’t see much return on your investment if there’s something breakable in the room anyway.
Furniture such as the old, stained couch that’s been sitting in your office for seven years or that old mattress you’re still using. The nicer and cleaner everything is when a new tenant moves in, the more likely they are to stay longer and take care of your property.
5. Install New Kitchen Appliances
In addition to the above-mentioned improvements, you might want to consider making a few other changes. These will add value and make your rental property more attractive for potential tenants. For instance, you can add new kitchen appliances such as a refrigerator, dishwasher, and microwave oven. This will also allow you to increase the monthly rent for each unit by $50 per month, which can add up over time if your rental property has multiple units.
Another improvement that might be worth making is adding new flooring throughout the entire house or apartment. If it’s carpeted, have it professionally cleaned before showing the place to tenants so they see how clean it is underneath all of that dust buildup from them being gone for months on end while still paying rent every single month!
6. Add New Flooring
This is easily one of the most important updates, but it can also be expensive. Depending on your budget and how long you plan to own this property will determine if new flooring is worth it. If you do decide that replacing carpet with hardwood or tile floors would make a great addition then look into local rental companies who may have used versions available at discounted prices – these are usually tiles that they’ve removed from other properties due to damage
7. Add Extra Storage In The Closets
By adding simple built-in shelves and/or storage cabinets in the closets, you can increase the amount of usable floor space. This is especially useful for older homes with smaller closets where hanging clothes might not be enough to make it feel like a walk-in closet. If they don’t already exist (and depending on how many bedrooms there are), add some shelving or wall slats inside the cupboards beneath sinks in bathrooms too! Just remember that if you’re putting them into finished areas such as kitchens, living rooms or hallways then consider your tenant’s convenience by leaving these additions unfurnished so that walls do not need painting, etc…for new tenants coming through every year. By doing this, you’ll have less maintenance to do and you’ll also be able to increase the rent from the new tenants.
If your property is an older home, adding some shelving can give it a modern look. This is great for homes that don’t have closets or large bedrooms as well! To keep with the theme of simplicity, just use white finishings so that they aren’t too distracting in any one room and then choose simple designs such as Slatwall panels which would work best on walls without windows (whereas standard wall shelves may need extra support).
So, there you have it. If you don’t like your property and/or tenants right now this is a simple way to increase the value of both. The results may not happen overnight but they will be worth it in the end! Good luck!