The only way to ensure your rental property gives you the best possible income is to attract the right calibre of tenant. And one of the best ways to attract the right tenants is to make sure your property looks its best.
With this simple premise in mind, we thought we would give you some brilliant tips to create a desirable, attractive property that will have potential tenants clamouring to rent it off you. Let’s take a closer look at some of the things you should be doing to appeal to the best possible tenants.
Space is everything
The size of your apartment or home is not the most important aspect of attracting great tenants - but the amount of space can often make a difference. According to research, well over a quarter of residents put space as the most important factor in deciding to sign a tenancy agreement, so it is essential that you bear this in mind.
While larger properties have an advantage, it is possible to create a spacious environment in the smallest of homes or apartments. Open plan kitchens, size-appropriate furniture, and plenty of areas for storage are all essential.
Simple colour schemes
Prospective tenants want to imagine living in your property, so keep things simple when it comes to decor. Neutral colours and hues are a must, as we revealed in our previous post on preparing a property for rental.
Avoid fancy fixtures and fittings, too - many tenants will be concerned with breaking things and ending up having to pay for damage at the end of their tenancy. Simple but slick finishes in the bathroom and kitchen are more important than expensive gadgets and luxurious implements.
If you have a garden, you will be more likely to attract some of the best tenants out there: families. You can hire a gardener to ensure that the outdoors is always looking its best, and it’s a good idea to invest in an excellent range of outdoor furniture.
Barbecues are a big draw, of course, especially if you have a lovely garden space to show off. BBQ spare parts are cheap enough, too, but be prepared to maintain it every once in awhile. It’s also important to bear in mind that if you aren’t renting to families, you should be careful about spending too much on the garden. They can end up being an unnecessary cost if a tenant doesn’t spend any time out there, or has no interest in caring for it.
Finally, furnished homes will always attract a higher level of rent, so the vast majority of landlords will provide sofas, beds, tables and chairs. But you don’t need to spend a fortune on stylish design - there are plenty of options out there - try places like IKEA for some cost-efficient and smart options for furnishings.
There are a few extras that the vast majority of renters will love, and might well make the difference between your property and your competitor’s. Again, keep things simple, and you will find your home is more of a draw to prospective tenants.