In the rental property business, great tenants are crucial to the success of an investment. A well-maintained Los Gatos property attracts not only reliable tenants, but maximizes cash flow as well. Luckily, there are many ways landlords can improve their property at minimal costs and little effort.
Here are a few things landlords can do to separate them from the competition and make their Los Gatos property more desirable and rent ready.
- Curb Appeal: You want to catch people’s attention the first time. Once a potential renter sees something they don’t like, there are no second chances. Make sure the property is aesthetically pleasing by cutting the lawn, trimming hedges and planting colorful flowers along the home. First impressions are everything, so be sure when somebody walks up to the home, it’s pleasing to the eye.
- Updates/Remodeling: Although updating or remodeling can seem costly, it’s better in the long run if you want to generate a higher profit from your rental property. If the unit has older appliances; replace them. Update outdated countertops with granite instead and replace old bent blinds for new ones. Go through and replace all cabinet pulls, faucets, handles, and light fixtures for new modern ones. Additionally, make sure all items match so there is a consistent flow through the rooms.
- Paint: One of the easiest ways to add worth to your property is to repaint. Don’t underestimate a fresh coat of paint. It can make a vast difference in a home. People generally choose a simple white or off-white color for their units, but go with neutral tones instead. Neutral paints can give the home a more spacious and contemporary look.
- New Carpet: If you have an older carpet that needs replacing or cleaning, do it now. There’s nothing that can turn off a potential tenant more than a dirty aged carpet.
- Clean: Lastly, it’s time to get your cleaning gloves on and start scrubbing! Any odor, grime, or stain will make a tenant run away. This is probably the most important thing a landlord can do to make their rental property more desirable, and often it’s the easiest and cheapest update of all. So get your gloves on and clean anything and everything. There is a big difference between cleaning a house when you live in it and cleansing a house for a tenant to move in. The use of a professional cleaning company is highly recommended.
As a landlord you want to get the highest return possible on your investment. In order to do that, you have to spend money to make money. By using these simple tips, you’ll be on the road to finding a quality tenant in no time. Please contact Real Estate Connections – a Los Gatos Property Management Company, if you have any questions.