4 Practical Features A Rental Property Should Have
When leasing property, you want to make sure you will be able to rent it as soon as it hits the market. Even though there are certain aspects to consider before actually investing (such as location, the age of the property, whether it is close to a school district, etc.), there is a lot you can do once you own the property that will make renting it much more manageable. Here are some of the most essential, practical features tenants look for when renting a new space.
Nothing can be a faster turnoff to your future tenants than a beat-up or run-down kitchen. It is, after all, an essential room in the house, and especially a must-have for any families looking to rent. Even though this might sound like a costly matter, it doesn’t necessarily have to be. You can always spruce up the place with a fresh coat of paint over the cabinets and additional small appliances that come in handy, such as a coffee maker or toaster. However, if your kitchen is in need of new essential appliances and countertops, it won’t be a futile investment, as you can always get it back via a slightly higher rent.
When evaluating a piece of property, be as proactive as possible. Like the kitchen, the bathroom is something no one is willing to compromise on. These two rooms need to be in order, as no one is willing to waste their money and energy into a home they do not own, especially as adding new features to these rooms means they can’t take their investment with them when they decide to move. Potential renters will not be impressed if your bathroom is outdated or neglected. Thankfully, redecorating isn’t too much of a hassle, as merely changing the tiles does the trick most of the time. You can always purchase monochrome tiles that are not too costly and give it that clean, minimalist expensive look.
When leasing a property in the suburbs, it usually isn’t a problem. However, if your property is located in an urban area, this is something you must look into as it might be the main reason future tenants decide to skip on your offer. No one has the time to be driving around in circles looking for a spot to park on a daily basis, so finding a garage, even in the immediate area a few minutes away from your property, is always a good idea.
You can’t put a price on feeling secure and safe in your own home, and this is something your future tenants are sure to appreciate. If your budget doesn’t allow you to invest in a high tech system, no worries, even a new door with a better lock system will be a perk; renters can’t ignore.
There are also so many other, practical ways to make your home more appealing, for example, simple decoration. The best way to go about it is to think as a tenant and ask yourself what it is you would like to find in a home you are looking to rent, and then make sure your rental property has those features. Don’t be the one to make those typical new-landlord mistakes.
If you’re interested in other useful ideas and information, you may reach us at info@LLCPM.com