Rehab for Rentals: 5 Tips to Make Rental Property More Appealing to Tenants
Admin - Nov 15, 2016
You need to work on the remodeling of your rental property, both from outside and inside, so that you find a tenant easily.
Here are the rehab tips for rental property every landlord must keep in mind to win over the tenants.
Pay Extra Attention to Kitchen and Bathroom:
The condition of your kitchen and bathroom affects the potential tenant’s decision. He can be turned off by the dirty kitchen worktops, appliances and unclean bathroom, so the potential tenant decides to look for rental property elsewhere. Keep these two important areas in good condition by deep cleaning the surfaces, applying fresh caulking and plastering the patches, and keep the house looking new and fresh.
Make your appliances look as good as new:
A little workout on your ugly appliances can make them good enough to impress the prospective renter. You can wipe your washer, dryer, fridge and dishwasher. Apply few coats of paints on their rusty exterior or you replace older appliances.
Work on the Front View:
Outside of the property, especially the front side is as important as your interior. The curb appeal of the home is highly important. If potential tenants don’t like the house from the street they may never even want to go inside. So the old rule of thumb – you never get a 2nd chance to make a first impression and drive up appeal is often your 1st impression.
With few touch ups like paint, plastering and changing gates and door, you can make your property looks attractive enough to draw tenants.
Don’t Forget a Paint Job:
A can of paint worth $50 is enough to give a beautiful makeover to your rental space. From tired walls to the dim hallways, a fresh coat of paint will make every corner vibrant. Choosing a satin or semi-gloss paint is ideal as it can wipe off crayon marks, scuff marks, and grease stains from the walls.
Make sure to choose the neutral shades like tan, cream, light gray and beige as these colors have a mass appeal. For outdoor railings, shutters, and siding, choose a high-grade weather proof paint to resist the extreme weather conditions and lower how often you will need to repaint.
Invest Money on the Fix ups and Repairs:
You may have to spend bit extra on repairs and patch ups. But it can be justified as rental property is a long term investment.
- Repair the flooring and replace the tiles if necessary
- Change the dripping faucets and tattered door handles
- Replace the electrical plates and switches
- Get your house wall repairs, fill holes and cracks
- Fix the leaks
- Fresh Caulking and paint can do wonders!
- Think every time you need to do something to the house is there a way to lower maintenance long term? Metal Roof? Laminate flooring or tile instead of carpet?
Working on these rehabbing tips will make your rental property attractive for tenants. Make sure to use quality material for the remodeling as it will be beneficial for you in the long run.
If you are looking for a rehab loans for rental property, you can approach Loans 4 Investors, a hard money lender based in Texas with the diverse loans portfolio including fix and flips, gap funding, build specs and many more.