Landlords need to put in a significant amount of work to look after their properties, no matter whether it’s an apartment building or single-family home. One of the more notable is bringing in renters and generating an appropriate revenue month-on-month.
Figuring out how to make your property more appealing to renters is a large part of this. It can also seem overwhelming if you don’t know what you’re doing. Multiple tips can help with this, but three stand out from the others.
They’ll have a noticeable impact on your rental property’s appeal, making them worth the initial investment.
How to Make Your Property More Appealing to Renters: 3 Top Tips
1. Install Security
A security system is one of the more important elements of an apartment building. You’ll have more than a few of these to choose from beyond the basic security cameras and alarms.
If you want to add extra security, then a card key entry system to common areas in the building can be an option. It makes sure anyone who shouldn’t be there, isn’t, which reduces the risk of theft and other crimes.
Taking this approach has the added benefit of reducing your insurance premiums, which makes the initial cost worth it.
2. Stage the Home
Few people want to rent an empty property. While some renters will bring their own furniture, most won’t. You’ll need to keep that in mind when getting the property ready for renting. You shouldn’t simply toss a lot of furniture into the property, however.
Doing this can be difficult, as you’ll need to keep potential renters in mind. Working with a professional on this can be helpful, as you can rely on their expertise to make sure it looks and feels as appealing as possible.
3. Add Storage
Every home needs an adequate amount of storage, but you’d be surprised by how many landlords overlook this. Few things can be as unappealing to potential renters than realizing there’s not enough space to store all of their belongings.
While getting their own storage containers and similar items minimizes this, it’ll be a noticeable drawback to the rental. By making sure they don’t need to do this, you can be confident they’ll have fewer reasons to turn away from your property.
Older homes are particularly known for this, so it may be worth updating yours and adding some storage.
How to Make Your Property More Appealing to Renters: Wrapping Up
Once you know how to make your property more appealing to renters, you’ll see quite a few benefits. The more notable of these is attracting more people to the property, which helps drive up the rental price.
That’s a win for you, as you’ll make the initial investment back, plus a lot more. There’s no reason not to put the effort in at the start.