Offering your property for rent makes sound financial sense only when you are able to derive steady income from it. Investing in properties in prime locations and a fair amount of aggressive advertising can help you attract the attention of prospective renters. But you need to do more to ensure they fall in love with your property when they see it.
Here are a few tips that could make your rental property absolutely irresistible to tenants.
- Add an additional bedroom – The number of bedrooms in a house is the first thing that tenants, especially those with children, look for while inspecting a property. Converting an extra space like an attic or a study into an additional bedroom can increase the value of your home, apart from making it attractive to tenants.
- Add natural appeal – A house that is well ventilated and lets in lots of natural light finds immediate favour among prospective tenants. Ensure your rooms have adequate windows to allow sunlight to enter. Also, bathrooms and kitchen should be ventilated to allow good circulation of air.
- Provide sufficient storage space – Tenants prefer houses that have sufficient storage space to store their stuff comfortably. Provide enough shelves, cupboards, storage racks, closets, hooks, and the like. Bedrooms that come with a sizeable wardrobe is a plus.
- Furnish the house – A furnished house has a high rental value and also attracts more renters. Providing furniture and basic appliances in your rental property gives it a homely appearance, apart from making it convenient for renters who do not want to deal with the hassle of owning and moving furniture.
- Provide living amenities – A house with all amenities will definitely be more appealing to tenants. Provide amenities like washer, dryer, built-in wardrobes, air conditioners, covered car parking and the like. Modifying the outdoors with landscaping such as flora and fauna, terrain, water bodies, etc. will make for interesting elements. An outdoor entertainment area can also be appealing to families and single occupants alike.
- Make your house pet friendly – If your house is outside a no-pets area, you can consider altering it to make it favourable for pets. Think about adding facilities like a pet door, tiled or hardwood floors that are not easily damaged and storage areas near the door to store pet belongings. Pet owners will often pay extra for a house that welcomes their furry friends.
- Do regular maintenance – Since first appearances are critical, make sure your property looks beautiful and well maintained from outside. Always stay up to date with maintenance requirements, especially between tenant occupations. Carpet cleaning, re-carpeting, repainting and professional cleaning of bathrooms and kitchen help to maintain the property in a good condition. Rectify problems like leaks, dampness and mould that can dissuade tenants.
- Renovate an old property – Consider renovating an old property by rectifying damages and making appropriate alterations to add modern amenities. This can attract more tenants and maximise your rental returns.
Clever Finance Solutions has years of experience in helping clients with their property investments. We can assist you with the purchase process and in securing a loan for property purchase, construction or renovation. Contact us today and let us help you with your property investment plans.