Quality, ongoing maintenance will ensure better tenants, starting at the curb.
When people drive by your rental property, what are they seeing that captures their attention? Do they stop to admire the lush foliage and landscaping? Are they impressed by the new paint job that looks so vibrant and fresh? Overall, is your rental property inviting prospective tenants to call for an appointment to see more?
In other words, does your rental property have ‘Curb Appeal’?
Curb Appeal is the first step to getting the attention of prospective tenants. It does require a certain amount of effort on your part, as the property owner, but it’s well worth the time and money if you want to fill a vacancy.
What’s considered low curb appeal is if the property includes blemishes like a broken pavement or overgrown grass or trees. Homes that show a dire need for a new paint job have very low curb appeal. On the other hand, homes with high curb appeal included features like well-kept lawns, inviting landscaping, no overhanging tree limbs near roof, and fresh paint jobs.
Homes with high curb appeal that are on the market to sell tend to sell for an average of 7-14% more than similar houses with an uninviting exterior. Good to know should you decide to sell.
Budget-friendly upgrades such as painting is a smart first step. A fresh coat of paint can transform the feel of a home. When selecting paint, it’s always a good idea to opt for soft neutral colors, such as grey, tan, or taupe. While white is a classic, it can sometimes feel bare. Additionally, choosing a washable, high-quality medium gloss paint is a great choice that can help one coat of paint last longer. And, if you have more than one rental property, picking one color and sticking with it for all of your properties is a great way to simplify and save money.
A few other basics that make a big difference: make sure your paint lines are sharp and that the color accentuates the trim. These basic painting tips can apply to both exterior and interior painting.
Since renters begin forming their opinion of a property within the first few moments of seeing it, the exterior must make a great impression. Start by ensuring that the curbs, patios, doors, and mailboxes are all in a clean, good condition. And don’t underestimate the power of a good pressure washing as a form of rental property upgrade. It can really transform a property’s look and often solve the need for a new paint job.
Potted plants or string lights on a patio, can create a great homelike feel. Ensuring that all lawns, plants, shrubs, and trees are well-maintained is another way to increase the overall wow factor. Rental property upgrades like these also communicate that the property is well-taken care of and in good working order, which attracts quality renters.
Maintenance of your rental property, year-round, is the only way to ensure your investment will continue to generate revenue. Create a solid plan to take care of your property throughout each season of the year. Also, addressing maintenance calls quickly and making routine inspections can really make a difference in your long-term return on investment.
This type of intentionality does take time. But, it ensures that your rental property upgrades have a long-term impact. Employing a highly respected property management service that will partner with you to take care of these things is a smart investment.
Cousin James Management has been providing proven, quality property management throughout North Texas for more than 25 years. We understand the ins and outs of property management day-to-day or over the long term. Enjoy your rental property investment more by partnering with Cousin James Management. Let us do the heavy lifting while you experience the rewards of your investments. Contact us today. We’re always here to help.