In today's economy tenants are not just seeking the most economical rents but are searching for the best value in a potential rental home or apartment. Property owners can benefit from a simple assessment of their property that will offer clues to how they can attract the best tenants.
The past year has created some changes in the rental market. Persons who were previously homeowners are finding themselves searching for a good rental home or apartment. Others have had changes in their employment status requiring them to relocate to another city or state, downsize to more affordable housing or finding there is a need to relocate with a relative or friend to share living expenses.
Regardless of the rental climate in your area of the country, there still exists a group of good tenants who are seeking quality housing. You are searching for tenants that will pay on time each month, who will care of the property . who do move from one property to another frequently.
Here are a few tips that can help you rent your properties for top of the market rents and attract the best tenants for your properties.
Offer extras that will set your property apart from others. Many people searching for a good rental home or apartment should find your properties offering more that your competition is offering. Frequently improvements or bonus features are very low cost and make a giant difference.
Offer tenant insurance as a part of your lease agreement. This usually only costs about $10 per month.
If your budget allows, add a dishwasher to the kitchen. Most people are looking for these extra features.
Add mini blinds to all the windows. This makes the property look appealing on the inside and outside for just a few dollars per window.
Install an attractive front door and storm doors on the front and rear of the property.. Frequently just a small change on the exterior can dramatically change the exterior appeal of the property.
Simple updates to the interior can make the property look new and fresh. Replacing an old light fixture will make the property more appealing. Installing new switch and outlet plates can quickly update the interior appearance.
Check the doorbell and make sure it works. If it does not then the wireless bells are an inexpensive and quick solution.
Take extra measures to make sure the tenants feel secure. Make sure that the door locks are secure and have a deadbolt. Motion sensor lights on the exterior also make the tenants feel safe.
Check your mail box. A simple can of spray paint can transform an old box into a shiny new one for just a few dollars.
Improve your landscaping by adding mulch and maybe some seasonal plants to brighten up the entrance to the property. Also rake and clean the yard and remove any unneeded items.
Make sure that the interior of the rental property is in move in condition. Shampoo carpets, wash windows and have bathrooms and the kitchen sparking clean. A simple plug in air freshener can create a pleasant aroma when they open the door.
Simple staging can make your property more appealing. Add towels and a bath mat to the bathrooms. Place a few accessories to the kitchen. Maybe a simple flower arrangement.
Giving some thought to the needs of your tenants and how you can improve the overall appeal of your property will result in acquiring the best tenants and in charging top of the market rent.