8 Rental Tips To Improve Your Property
And Maximize Income Potential
Successfully, leasing a property does not need to cost the earth, here's 8 rental tips that are simple and inexpensive ways of making the property look fantastic while increasing the income potential.
1. PERFECTION
Your personal home is probably designed and decorated to a perfect standard; it is exactly what you want from your home. Do not apply these standards to your rental property.
First, most tenants will not treat your house with the same love and attention that they would treat their own. Secondly, if the house is too perfect potential tenants may be scared off as they do not feel they can actually live in the house.
2. CLEAN AND POLISH
Before the first potential tenant walks through the door it is worth having the place professionally cleaned. Of course, it is possible to clean it yourself but it is a time consuming job if you want to scrub every single nook and cranny. A clean house will create a fantastic impression to any potential tenant and can help justify a higher rental rate.
3. REPLACE WORN OUT APPLIANCES
Appliances can be made shiny with a little window cleaner, a new looking appliance will show the potential tenant that the property is well looked after. However, if an old appliance starts to fail regularly it is important to replace it. Not only will this help with the clean, new look that tenants love but it will mean happy tenants who do not need to keep ringing you to fix a problem. Both of these factors will allow you to charge a little more for your property.
Many items, such as bath and sink fixtures can be quickly and easily replaced with minimal cost. These fixtures can be regularly updated to provide a fresh feeling bathroom or kitchen and even include a nod towards current trends or environmental issues. Keeping everything modern will attract tenants to your property.
4. FLOORING
In the grand scheme of things flooring is easy and cheap to replace. Always keep it new, particularly in the bathrooms and kitchens because they get the most wear and tear. Never try to mask damaged or dirty floors. Replacing them is a much better solution; it creates the right impression, attracts the right sort of tenant and can justify the higher rental price.
5. PAINT
A coat of paint can do wonders for any property; it'll create the illusion of a new home and will help people to see the property in its best light. If necessary use additional lighting to emphasize key areas.
Pay particular attention to the front door and hallway; this is the first thing a potential tenant will see and first impressions count. A bright and inviting front door and hallway will stay in their mind.
6. FURNISHINGS
If your property is vacant, consider renting a few items of furniture to help people visualize living there. If there are furnishings already present give them all a polish, make them shine.
7. APPEARANCE
If you're going to be present to show potential tenants their new home you must allow them to see you as a serious, professional business person. You do not need to put a suit on but looking professional will make a difference to the type of tenant you attract and how seriously you're taken.
There's no need to rush into your property and replace everything. Most properties can be cleaned, repainted and the majority of issues can be repaired rather than replaced. Remember, every penny you spend will eat into your return on your investment.
8. VIEWINGS
The best way to ensure you obtain a tenant is to make sure as many people as possible attend the property at the same time. Place and ad telling people that your property is available and when people call tell them there is an open house viewing day at a set time on a set date. Hopefully, you'll receive at least five or six calls; all the potential tenants will turn up together and this will be guaranteed to turn someone who likes the property into someone who simply has to have it. Its human nature to want something if there is a chance you'll be deprived of it.
We hope you enjoyed the 8 rental tips article by Author: Davis Miller. He is a regular contributor at many sites and mainly focuses on business and property related topics. Also he recommends http://www.propertyturkey.com/ where you can find various options to buy property in Turkey.
