Making your property as desirable as possible to potential tenants is something which can only benefit you, not just in the short-term by securing residents in your property, but also in the long-term when it comes to the property’s value and your rental yield, both of which will be maximised by what can be a number of simple methods.
Whether you’ve been struggling to find tenants for your property, or you’re just looking to maximise the value of one or more items in your portfolio, changing a few things and giving it a makeover certainly won’t hurt.
This term refers to how your property appears from the outside, with the exterior absolutely essential in making a first and lasting impression on those who may be interested in renting it. Clearing the front of any rubbish or debris is a good place to start, whilst a tidy-up of any gardening matters including weeds is a no-brainer. Adding some appealing flowers or a lick of paint to the front door will also help, whilst fixing any broken gates, letterboxes or any uneven & chipped bricks will work wonders for the property’s curb appeal.
Whilst you may have gone into the property industry for creative reasons, and to make your mark on properties, it’s essential to be careful when it comes to taking risks. You want your property to appeal to as many potential tenants as possible, so neutral appearances are the best option - obviously a property should have its own unique character and identity, but you don’t want to go too far and put anyone off.
Probably the most obvious when it comes to simple methods to make big changes - adding a lick of paint both inside and outside the property will give your space(s) a fresh feel and will appeal a great deal more to tenants. Not only will an inexpensive can of paint breathe new life into rooms and corridors, but it can also draw attention to certain parts of a room or property which you’d like tenants to notice and appreciate.
Ask yourself: which specific rooms or features of a property might you be most focused on if you were being shown around a property or looking at a listing for one? Perhaps highest on the list of most potential tenant’s priorities will be the kitchen and bathrooms. Here, there’s something very straightforward you can do to make your property stand out when interested parties are being shown round - clean! Tidy, spick-and- span bathrooms and kitchens will go a long way to securing tenants for your property.
The final and simplest method to give your property an appealing makeover is to make sure that you accentuate the best things about it. How are others marketing their residential properties? Which features are they most putting at the forefront of their advertisements or listings? You might like to take a look at this, focusing on similarly-sized properties in similar areas and price brackets. Of course, however, making your residential opportunity stand out from others has to be your priority.
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