As the leading Plano property management company, we know the toll that extended vacancy days can take on an owner. Depending on the type of tenant you are trying to attract, small home improvements may be key to helping them feel at home during the walk through, and influence their rental decisions.
Won’t Home Improvements Negatively Affect My Cash Flow?
Actually, no. Studies have shown that today’s renters are more likely to shell out more on rent for a home they truly love. Some renters are former homeowners that are back in the rental market thanks to the housing crash. These renters are seeking for places where they not only feel safe, but like they are back at home, and Plano property managers would do well to remember that when listing their home for rent.
Appeal to the Aesthetics
Contrary to popular belief, home improvements do not always require a large amount of cash. Small updates can make the home feel more cozy and inviting to prospective tenants. Try making some of these minor adjustments to your rental property:
- Whether you coat the inside, or touch up the outside, a coat of paint goes a long way.
- Replace the blinds. Inexpensive window treatments can be found at most home improvement stores. Bonus: while you are replacing window treatments, you can also inspect the condition of the windows to see if any need to be replaced, and shine them up!
- Inviting smells. Whether you place candles around the home, plug-in air fresheners, or place a few drops of your favorite scented essential oil in the filters, smells help create the ambiance and peace of home.
- Ensure appliances are clean inside and out. Nothing is worse than a potential tenant opening the fridge to find a sticky mess.
- Update the lighting fixtures. This small change is one that helps tenants feel more like they are in a custom home instead of a mass produced option.
- Change the handles on your kitchen cabinets–or add them if they are not there.
- If you can not afford to replace the appliances, consider giving them a new look. Stainless steel is all the rage among millennial renters, and is sold in a liquid form specifically for painting appliances.
For other tips and tricks of how to appeal to potential tenants and decrease your vacancy days, contact Real Property Management Plano for assistance.