Tips on How to Make Your Rental Property a Space Everyone Will Want

You bought a fixer upper and you’ve been working on it diligently. It’s finally ready to post as a rental. This is an exciting time, but it can also be a little nerve wracking. You have invested a lot of time and money into this property. What if renters aren’t interested? Before you make your rental publicly available, go through this pre-rental checklist presented by Kruper Flooring and Design to ensure you’ve covered all of the basics and beyond.

Fix and Repair Any Serious Issues

First and foremost, as you prepare your home to be move-in ready, your property will need to be safe. This seems obvious, but sometimes landlords skimp on costly repairs to get a tenant in quickly. Don’t be that landlord. Instead, fix and repair any serious causes for concern before you even show the property. You’ll want to focus on the most important safety concerns, such as ensuring that the electrical system works properly and is safe to use. Ensuring that your HVAC is working sufficiently is vital too, as not providing adequate heating is generally a violation of the renter’s code. Also, make sure that your property is secure, there are no visible leaks, mold, or water damage. 

Make the Property Look Nice

There is a fine line between luxury and rental decor, so find where you are comfortable. Consider your location and your rental demographic, too. Higher end renters will expect more, especially if you’re preparing a vacation rental home. The key areas to focus on are the bathroom and kitchen, as these areas will make the biggest impression on potential renters. Perhaps you have the budget to go all out and remodel these spaces completely. Otherwise, you can make a big difference with smaller changes. For example, you can replace the lighting with pendant or recessed lighting. Or, you can simply repaint these spaces with vibrant paint colors to make them more eye-catching. 

New flooring is also a great investment that will make your rental stand out. Schedule a consultation with the professionals at Kruper Flooring and Design. They can help you select flooring that is durable and budget-friendly, while also great looking. You can then decide to put it just in a few rooms or redo the entire house.

Homes 247 notes that wallpaper and backsplashes are an excellent decor option, too. They are cost-effective, but are also visually appealing. You might choose to install new countertops or a shower for a wow effect. Nonporous showers are an excellent option if you are looking for something that is easy to clean.

Give the Exterior Some Love

Everyone in the real estate market talks about the importance of curb appeal. But what if, as FortuneBuilders points out, your curb appeal is simply unappealing? As you are reviewing your pre-rental checklist, you should pay special attention to your lawn, the condition of your fencing, and the general attractiveness of your home’s exterior. You may need to power wash the exterior or even add a new coat of paint. Tend to any plants and perhaps add some flowers to give a welcoming touch. 

Consult with the Experts

Most people have a limit to their DIY abilities. If you notice an issue that is beyond your skill set, consider outsourcing. It’s tempting to look at the cost involved and either abandon the project or try to do it yourself, but think of the long term effects. Poorly done plumbing, electrical, or flooring can cause major problems that will cost a lot more to repair. It’s better to do it right the first time. Plus, an updated and well-maintained rental will bring in more in rent each month than a rundown one. So don’t be afraid to enlist the help of professionals to get the project done and done well.

Make Your Rental Business Official

Your property is finally ready to rent, and things have gone pretty well. Now you’re thinking of starting your own real estate business. It’s important to make things official, starting with choosing the right business structure. An LLC, or limited liability company, is a common choice because it is inexpensive to start and it provides protection of your assets. You can complete the application process yourself, or work with a lawyer or formation service. 

Now you need to market your property to get prospective renters. Start by using the right tools. Sharing your listing with experienced real estate agents who are intimately familiar with the area could work well at showcasing your property. Or you can take advantage of social media to get the word out. Use a free Facebook ad template to create a professional looking ad that you can post on your business or personal page. It’s best to include your logo and brand colors, along with your contact information. You don’t want people hunting for ways to reach you if they’re interested. You can share these posts or create new ones across your social media platforms - and your website - to get as much exposure as possible. 

You’ve double-checked that your property is ready for tenants, and you’ve launched your marketing campaign. Now, it’s time to find the right tenants for your property and enjoy the fruits of your labor. 

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