You know that not everything in life is created equal – and this includes property rentals. You know how it is – sometime, somewhere, someone thought it was a good idea to…
- build a house with 4 bedrooms and only one bathroom
- paint the kitchen a combination of bright pink and lime green
- forego closets in the master bedroom for more space
- have the only bathroom upstairs in a two-level home
While we may never understand what that person was thinking, we need to figure out how we can entice renters despite their crazy idea.
Color Changes. Walking into a property with all sorts of crazy colors can be a turnoff. If you are looking to entice tenants, then you to may want to consider doing some color changes. Stick to neutral colors.
Upgrade. You don’t have to upgrade everything in the home, but keep in mind that bathrooms and kitchens are the most desired upgrades. If you have a rental property that is lacking in some way, upgrade the kitchen. Perhaps the pros that come with the upgrades will outweigh any cons that come with it.
Renovate. When all else fails, renovate. Chalk it up to the fact that sometimes you just have to spend money to make money. Tenants want a nice place that they can call home. If you want someone to gain interest in your rental property – especially desirable tenants – then you need to make sure it is someplace they would want to live. Besides, a small change or renovation can often make a huge difference.
Curb Appeal. The outside often matters just as much as the inside. As soon as a potential tenant arrives to check out the property, the outside will set the tone. Likewise, if a potential tenant moves into your rental property, they want to know that their friends and family won’t cringe when they pull into the driveway. Take the time to do some landscaping and give the place some curb appeal. Being awed by the outside can be more helpful than you realize.
When speaking to potential tenants, focus on the positive qualities of the rental property – and the surrounding community. Sometimes having great schools and a desirable neighborhood can override any mixed feelings about the property itself.
Over time, you will find that tenants are not necessarily looking for perfection, but they do want their home to be comfortable and convenient. Find a simple fix that can entice your tenants and you can let your worries fall away.
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Marina Shlomov, a managing partner at ALH|Podland Realty and Atlanta Rental Homes Property Management is the author of many articles on Landlording, Real Estate, Rental Property Management, Atlanta Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her Atlanta property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, BiggerPockets and REI CLub and LinkedIn.
