Most landlords do the bare minimum to get a property ready for leasing. They fix anything that’s seriously broken, vacuum the carpet, cut the grass, and stick a “For Rent” sign in the front yard. But you aren’t most landlords.
If you want to increase the desirability of your property and attract more prospective renters, a little design and decor can go a long way. And guess what? It doesn’t have to be expensive.
6 Rental Property Design Tips
Green Residential in Georgetown, Texas encourages landlords to always think about ways to elevate a property over comparable rentals without making significant changes. Good design can do this.
The best tenants in the market have an abundance of rental properties to choose from. They’re not going to settle for something that looks like a squatter has called it home for the last couple of years. By spending a little bit of time and money on design and decor, you’ll appeal to the right kinds of renters and may be able to charge a slight premium. Here are a few timely tips:
1. Nail the Curb Appeal
Always start with the front of the property. It’s the first thing prospective renters will notice and it sets the first impression.
If you can get curb appeal right, you’ve already won some brownie points before the prospect even walks over the threshold. Some good ideas for curb appeal include painting the front door, placing large planters on the porch, and sprucing up the landscaping along the entryway.
2. Use White Paint
You’ll never hear a prospective tenant walk into a property and say, “I sure wish this was a little smaller.” No, the common complaint is always, “This just feels a little too tight.”
One way to increase the perceived size of a rental property is by using white paint. Not only is white really in right now, but it also visually opens up spaces and makes rooms feel larger than they truly are.
3. Spend on the Kitchen
If you’re going to put some money into upgrading or renovating the property, focus on the kitchen. This is the “money room” – the space that prospective renters immediately gravitate towards. For a few thousand dollars, you can paint cabinets, upgrade countertops, and swap out hardware.
4. Invest in Cheap Trendy Upgrades
You don’t want to spend a bunch of money on trendy upgrades. By definition, they’ll go out of style within a couple of years. But it’s no secret that renters will pay a premium for a property that looks updated. So the key is to invest in trendy upgrades that are cheap and easy to swap out.
For example, wallpaper is making a comeback right now. But you don’t have to pay for someone to come in and plaster it all throughout the house. You can actually find some pretty nice peel and stick wallpaper. It’s cheap, goes up easy, and comes right off when you’re tired of it.
5. Throw in a TV
Any sort of incentive you can offer a prospective tenant to get them to sign the dotted line on a lease agreement is smart. One really great option is a large TV.
TVs have come down in price dramatically over the past few years. Today you can get a massive 4K TV – like a 55- or 60-inch option – for less than $400. If that TV can get someone to sign a 12-month lease agreement, it’s a no-brainer.
6. Be Smart with Lighting
Lighting is an element that’s often neglected in retinal properties, but that has the potential to totally transform the look and feel of a space. Get rid of the harsh fluorescent lighting and dated fixtures. Instead, invest in some inexpensive yet trendy light fixtures with warm bulbs that give off a soft glow.
In the kitchen, try some under cabinet lighting. These days you can get LED rope lighting that actually changes colors, dims, etc. For just a few bucks, you can create a really elegant look!
Adding it All Up
It doesn’t matter if you’re renting a small studio apartment for $800 or a sprawling single-family home for $3,000 per month, a little bit of design love goes a long way towards attracting the right kind of tenants and keeping them happy. Hopefully this article has provided you with some useful inspiration.
Article Submitted By Community Writer