For the time being, there’s a great rental market almost everywhere you go. However, the market broadening, the competition has become a lot more intense. It may seem a nearly constant battle to get the attention of the renters you want. In order to land those long term tenants, you’re going to have to pick up your game a bit.
Make some small renovations to any properties that need them. If you’ve got a case of the Harvest Yellow Blues, it’s time to update the kitchen. If there are other issues that seem relatively small, just fix them before you list. Leaking faucets, squeaky stairs, any of those little things that you note that, later down the line become grumble-fodder. For that small amount of your time, you can make your rental that much more appealing. A few tips for a better kitchen that won’t break the bank include updating the lighting with modern fixtures, replacing the cabinet facings, and getting rid of Formica in favor of more solid surfaces. You can also replace vinyl flooring with easier to clean, more durable laminate. This also adds value in that its close resemblance to hardwood flooring has great visual appeal.
Beef up the property’s security. Change the locks, install better ones and even install an alarm. This is particularly important if your property is near or even in higher crime areas. Show the prospective tenants that you care about both their safety and the safety of their belongings by making sure that the property has adequate security.
Another area where many property owners fall down is in the yard. If you manage a property with a yard or own a property with a yard, consider a fence. This helps both with potential renters who have pets, but also those with children: two demographics you should not be ignoring. It also helps enhance the appeal as it does add to a more secure property. Make sure the landscaping is cleaned up and neat, the porch or deck (If applicable) is cleaned up nicely, and you’ll create a much better first impression on potential renters. A little clean up and time spent taking care of these things goes a long way in that, but also, makes for much better property photos in your listings.