Persuading tenants to choose your property is a game of appearances and amenities. What can you offer that others don’t? Do the interiors and exteriors embody style trends that renters seek — or are they outdated? If your rental isn’t where you want it to be in appeal or profit, you can get there by incorporating some smart design tips.
Show potential tenants that your property is worth living in over the competitors and give them evidence to prove it. Many upgrades are cost-effective and efficient for real estate investors who don’t have tons of time — or money — to spend. Keep reading for six easy ways to ramp up the appeal for your rental.
1. Landscaping/Curb AppealPeople see your rental’s exterior first, and this impression can either entice them or turn them away. Make them want to stay by putting some vigor into your landscaping.
Plant colorful flowers and bushes along walkways to keep potential tenants’ attention as they survey the property. Trim dead tree limbs to make your trees neat and hazard-free, or plant some if the yard doesn’t have them already. Water the grass often during the warm months, and clear walkways of snow and ice during winter.
2. RepaintingThe best bang for your buck! Sometimes all your rental needs is a fresh coat of paint to look like new again. Your property will be ready to paint after a thorough power wash. For the most appealing look, choose neutral colors like ivory or tan.
3. Cabinet Upgrades
Take your cabinets to the next level by giving them a new paint job and upgrading the hardware. Replacing cabinets can be time-consuming and costly, but making smaller adjustments refreshes their look for less. You can go in several directions when decorating the kitchen, but this room is one area renters focus on.
Ensure it appeals to modern tastes by watching color trends in real estate. Kitchen hardware should mesh well with the existing color scheme without overwhelming it. Silver knobs are generally a safe bet, though you can try satin brass for a warmer look.
4. Tile BacksplashesBacksplashes for your rental kitchen or bathroom can turn a space from plain to eye-catching. Subway tile is a classically simple look. It has been popular since the 1970s and is thriving in the good graces of interior designers today.
Most subway backsplashes come in the traditional white, but you can choose hues like gray, beige or black marble. Backsplashes are relatively straightforward to install on your own if you’d rather skip hiring a professional. Peel-and-stick tiles are a favorite among DIYers, although real tile will look better and give renters a great impression.
5. Renewed Flooring
Hardwood flooring is a much-loved substitute for carpeting, but not all landlords have switched over. That’s because it can get expensive to install hardwood through an entire house — though your project may cost less if you’re only reflooring a few units.
If you already have hardwood flooring, refinishing it can give it a new brilliance and erase years of scuffs and dents. A typical refinishing project takes a weekend at most, though it’ll go by faster if you hire professionals.
Alternatively, you can refresh carpeting by deodorizing and deep cleaning it every few months. If it’s too worn to save, replace your current carpeting with low-pile fibers. These fibers are high-density, meaning they don’t trap as much debris as high-pile carpets.
Install path lighting to illuminate the way when your tenants go out at night. This solution is attractive and adds a layer of security for tenants who prioritize safety in their rental search. Solar-powered lights add a green touch for eco-friendly residents, and many types use battery storage to keep shining after sunset.
Replace flush dome lighting fixtures with modern alternatives. A sleek chandelier can instantly liven up a dining room. Energy-saving lightbulbs save money and come with dimming capabilities regular incandescents don’t have. They also last longer, meaning you won’t have to replace them regularly.
Styling Your Rental AffordablyPut your skills and knowledge to the test and give your property a makeover. Revamping your rental can help you bring in a wave of quality tenants. They get an attractive, well-made home, and you get reliable renters who’ll be more likely to stay a long time — a win for everyone.