With over 100 million renters in the United States, there are plenty of prospects out there to tap into. But you can bet that there are many people out there who are looking to rent their home out just like you are – so you've got some competition to think about. To stand out from the other rentals in your neighborhood, you'll probably want to make a few updates before putting it on the market. Here are a few things you can do without spending an arm and a leg, and that can provide you with a nice return when all is said and done:
Update Your Appliances
Because a home's appliances tend to be a big part of the household members' lives, renters typically consider the condition of included appliances when deciding where they want to ultimately live. This doesn't mean that you have to buy all new appliances to entice potential renters to your front door. Instead, have your repair technician come out and inspect each piece, correcting inconsistencies and repairing or replacing parts as needed, and they'll more than likely work like new again.
If any appliances have chips or cracks on their surface, sand them down and then give them a new surface by spraying them with appliance paint which comes in both glossy and matte options. You can also find paint to make your appliances look like they're stainless steel.
Design a Neutral Atmosphere
When renters move in they want to be able to decorate the place in a unique way that fits their personal tastes and preferences so it feels like home. Brightly colored walls and wallpaper can inhibit your tenants' opportunity to incorporate their own favorite colors and textures into any given room. For this reason, it's a good idea to give the interior walls a fresh coat of white paint to make them look new again and to create a clean canvas in which your renters can build upon as they see fit.
Create Some Extra Storage Space
Renters will want plenty of space to keep the belongings they don't want to display or have room for. There isn't a need to build a new closet in order to maximize storage space in your rental home. You can simply create more storage space by working with what's already available. In closets, stack sturdy floor shelves along the back wall.
Hang large hooks next to the front door and behind the bedroom and bathroom doors. Install floating shelves along the wall in the dining room, and hang wire or wooden baskets from the corner ceilings in the living room. All of these things will provide convenience and help to make the place look a little bigger too.
Improve Energy Efficiency
Renters will undoubtedly be interested in hearing about saving some money on energy costs throughout the year thanks to a well insulated home. In addition to having a technician ensure that your attic is properly insulated, use some caulking or spray foam insulation along the frames of all the doors and windows that lead to the outside. You can also apply insulating film on the windows to better maintain interior temperatures. Window film also prevents 99 percent of UV light from entering the home and fading floors, walls, and furniture.
Invest in a Landscaper
Let's face it, nobody likes to mow the lawn and take care of foliage. And while your tenants will probably do a fine job of keeping up with the landscaping, they'll more than likely be pretty appreciative of not having to take on too much outdoor responsibility. Hiring a landscaper to clean things up once a month will help ensure that your yard stays as healthy as possible and give your tenants a break from the tough stuff, like trimming tree branches and digging out useful weeds. You'll find that you may be able to increase your rental asking price by including a monthly landscaper with the deal.
Implementing some or all of these tips and tricks will protect your investment, help you bring in more leads, and gain you maximum income for the property.