5 Ways to Make Your Rental Property More Attractive to Prospective Tenants
As a landlord, it’s only natural that you’d want to do everything you can to make your property as attractive as possible to prospective tenants. After all, high-demand rental properties command the highest value. If you’ve been interested in sprucing up your property in an effort to attract more tenants – you’ve come to the right place! Our team at Total Restore has named our top picks for making your rental property more attractive to prospective tenants. Following these simple steps can help increase your bottom line while simultaneously boosting the demand for your property on the rental market.
Tip #1 – Install In-Unit Washer & Dryer
Without question, one of the most desirable attributes of a rental property to potential tenants is in-unit laundry services. Renters are willing to pay more for a property that has a washing machine and dryer inside the unit itself to avoid the inconvenience and hassle that comes from making trips to the laundromat. If space is a concern, adding a stackable washer and dryer combination unit inside a closet or hallway is a great solution. Just remember to accommodate a water line to supply the laundry appliances. Compared to other properties that lack these amenities, your rental space with in-unit laundry capabilities will help yours stand out from the crowd.
Tip #2 – Add Smart Home Features
Another low-cost solution to boosting the attractiveness of your rental property is to install smart home connectivity features throughout the space. Especially desirable for younger renters, smart home features help your tenants control key features of the space from their phones or other smart devices. Features like a smart thermostat can help your tenants save money on utility bills while adding convenience at the same time. Programmable LED lighting fixtures that can be controlled remotely can also make the space more attractive while adding security while the tenants are away. Other examples of low-cost smart home features include programmable exterior lighting, smartphone-controlled door locks and keypads, smart doorbells, and smart garage door openers.
Tips #3 – Install Low-Maintenance Flooring
Does your rental property have ugly or outdated flooring like linoleum or carpeting? Not only are these types of flooring unattractive – they can also be difficult to clean and maintain during rental use. Low-cost flooring alternatives like LVT (luxury vinyl tile) or LVP (luxury vinyl plank) offer the perfect solution for property owners! In addition to simple installation, these types of flooring are durable, waterproof, and attractive to boost the appeal of your rental property. As a landlord, you’ll love the fact that clean-up is a breeze as you get your space ready for your next tenants. Your prospective renters will be drawn to the upscale look of your property and be willing to pay more to rent the space. It’s a win-win!
Tips #4 – Install Modern Light Fixtures
Another simple solution that can make your rental property stand out from the ordinary is to install modern light fixtures throughout the space. Especially if your existing features are outdated, adding modern replacements can both enhance the look of your property while simultaneously lowering energy costs for your tenants. LED lighting technology uses less power and offers a variety of benefits compared to older lighting fixtures. For common areas like a kitchen or living room, adding dimmable lighting can help your tenants personalize the atmosphere inside the space. Best of all – lighting technology has come a long way in recent years. You won’t have to break the bank in order to install eye-catching lighting fixtures throughout the rental space.
Tip #5 – Improve Bathroom Amenities
A clean and attractive bathroom is another universally desirable attribute of a potential rental property in the eyes of a prospective tenant. Replacing outdated fixtures like the shower head, bathroom faucet, and vanity can have a huge impact on the enjoyment and attractiveness of your property as a whole. Prospective tenants will be willing to pay more for a space that has an inviting bathroom compared to those that don’t. A fresh coat of paint, updated lighting, and even new flooring can go a long way towards transforming the bathroom. Make an effort to get the bathroom looking its best and watch the applications flood your inbox!