Regardless of whether you own one or several rental properties, these will only be a profitable investment for you if they remain fully tenanted. If you’ve been struggling to retain tenants in a specific property, this may be for a good reason – it could require one or two upgrades to render it more attractive and appealing. Below are some ways in which you can make your properties as appealing as possible to the right tenants.
Consider Going Green
More people than ever before are becoming aware of how their actions impact the environment and are taking the appropriate actions to try and reduce their carbon footprint wherever possible. As such, it may be a good idea to incorporate eco-friendly features into your rental properties such as outdoor compost bins, recycling bins, LED lighting, or even solar power.
Make your Property Pet-friendly
It’s become more common than ever for people to have one or more pets forming part of their families. However, finding a rental that accepts pets nowadays has become extremely scarce with many people preferring to overlook properties that don’t allow animals.
In many cases, making your property pet-friendly can be as simple as ensuring that your yard area is securely fenced. While this may not seem like an important factor to you, it could mean the world to a tenant who has pets that they love dearly.
Keep things Low-maintenance wherever Possible
With working hours for most individuals being longer than ever before, it’s understandable that virtually no one wants to spend their free time performing property maintenance.
If your property has a yard and/or garden, for instance, incorporating the cost of hiring a garden/yard service or landscaping company to cut the grass and keep the garden looking goodwill go a long way in making your rental home more appealing to tenants. The same advice applies if the property has a pool.
Install Decent Fixtures
Although it can be tempting to install the cheapest fixtures you can find in your rental properties, this will be one of the fastest ways to decrease interest in it – after all, no one wants to deal with flimsy fittings that give off very little light, wall paint that shows every scuff mark and faucets that look as though they were installed at the turn of the century.
Spending just that little bit extra on fittings that are good quality and that look aesthetically attractive will go a long way in making your rental home as appealing as possible to potential tenants.
The adage of, “You have to spend money to make money” certainly applies where rental properties are concerned. There’s no point in having properties to rent out if no one is willing to move into them because they’re unattractive or impractical in any way.
Securing decent tenants who will be willing to stay for a long time, that take good care of your property and pay on time each month will make spending that little bit extra on a few upgrades well worthwhile over the long term.
