Learn from our property management experts!
With today’s booming housing and apartment market, renters have more choices than ever when choosing their next home. While you can set your investment apart from the rest with quality interiors, convenient amenities, and great service, sometimes it takes a little curb appeal to capture the interest of potential residents. Here are five tips on how to improve your property’s first impression and attract the renters you want.
A fresh coat of paint can make a dramatic difference in your curb appeal. If you know the exterior is in need of a new coat of paint anyway, this can help your property look fresh and inviting. Even on newer buildings, the exterior color may be outdated or not as eye-catching. Consider using crisp, bold hues such as bright white, navy blue, or even a trendy pale green. Photos of your home or apartment will pop when viewed online, inspiring residents to schedule an in-person tour.
There is a deep sense of pride that comes with living in a certain place. Capture that spirit through the details around your rental property. Adding local art is a great way to do this and sets your rental apart from others. This could range from a small all-weather sculpture in the garden to unique metalwork on the gate. The art does not need to be large or expensive, but it becomes a great conversation piece and something your tenants will take pride in.
Just as changing the paint can add color and vibrancy to your property, landscaping and flowers can make a major impact as well. Choose plants that flower almost year-round and require minimal maintenance. Shrubs and small trees can add interest and dimension to the yard or surrounding area without needing to be watered routinely. If you want to improve the curb appeal from the moment someone sees the property, medium-sized flower beds or planters can be a great way to do this while planting the rest of the property with self-maintaining foliage.
Your property is probably well-maintained with safety checks conducted regularly. But do you also assess the aesthetic condition of your rental? Simple updates such as power washing sidewalks or porches and cleaning exterior windows do not go unnoticed by prospective tenants. Keeping these visual elements fresh and clean requires little cost outside of the time to complete the work, and it can be the reason someone chooses your safe, clean, property.
If a potential tenant does not feel safe on your property, he or she is very unlikely to sign a rental agreement with you. Despite being in a great location with low crime and noise, your home or complex may not be close to existing streetlights. Multifamily property managers will want to invest in larger overhead lights to cover parking lots and sidewalks. Single-home investment owners will also want to install an outdoor lighting system to cover all entrances and sidewalks. Because many of these systems are solar-powered, they can be a low-cost update that adds to the curb appeal and feeling of safety.
As the owner or manager of a rental property, you know it can take a lot of hard work to increase curb appeal. However, these tips can help make this task much more cost-effective, while also successfully attracting new tenants. For more industry experience and support with your real estate management, contact the team at MMC Properties today.