Owning a rental property ultimately comes down to one challenge – making it as desirable to potential tenants as possible.
This will enable you to charge a higher rent, find it easy to source new tenants when the current incumbents leave, choose the most trustworthy and amenable people to rent from you, and eventually sell it for a hefty premium.
Of course, this is rarely as simple as it sounds because if your property is located in a town or city, there is plenty of competition in your price bracket. What’s more, you may not necessarily have the budget or inclination to completely renovate your property or fit expensive furniture which could wow your tenants.
After all, you are running a business, which means that you need to stick to a tight budget if you are going to make a profit in the future.
This can land you in a tight spot if you are not prepared for it. There is a fine line between managing a property on a budget and outright losing out on higher-paying tenants due to your lack of investment. To help you balance this, here are some top tips for making your rental property more desirable for tenants:
Install some high-quality furniture
One of the best ways to make your rental property feel more desirable to tenants is to invest in some high-quality furniture.
You would be amazed at how much of a powerful impact attractive pieces of furniture can have on a property. It can lift otherwise dull-looking rooms, make it look like the property is more valuable than it actually is, and trick prospective tenants into thinking they are getting a better deal than they actually are.
Another reason why fitting great furniture sets your property apart as a desirable option is that so few other rental properties do this. Most rental places come either unfurnished or with cheap, often damaged furniture. By fitting high-quality items, you will instantly elevate your property above the competition. If you need to transport furniture across the country (or even to another country) to your rental property, consider using an LTL freight shipping service like those at: https://www.shiply.com/us/ltl-freight-shipping.
Landscape the garden
Another inexpensive way to make your rental property look far more attractive to potential tenants is to make sure the garden is landscaped. This doesn’t necessarily mean that you need to fit expensive water features or a decking area – all you need to do is ensure any grass is healthy and well-cared for, and that the outdoor space looks attractive. This way, the tenants will have one less job on their hands and start dreaming of long summers out in the garden – which always appeals.
Fix any problems before the tenants move in
Finally, you need to make sure that any teething problems with the property are fixed before the tenants move in. You will fail to please any tenants if there are irritating issues that prevent them from fully enjoying the place – such as a water leak or a dodgy heating system. Therefore, build a good reputation by having these sorted before anyone moves in.
