As a landlord you are super busy, so neglecting your rental property is easy to do. When your tenant vacates, you want to fill the vacancy as soon as possible. Balancing you time and money with the necessity for a quick turnaround is tough. At the same time, you want to insure that you get a great, long-term tenant. Of course screening and asking the right questions is very, very important, but the condition of your property will also attract the right clientele. What a dilemma! Too many landlords neglect simple things to get their rental property in rent-ready condition. Here a list in the WRONG things to do.
Mistake #1: Ignore Internet reviews
“They don’t really pay attention nowadays, there are so many reviews” you might think. Wrong. Reviews are as important as ever, and they are shared among your potential tenants. Respond to them, and contest those that might come from your competitors.
Mistake #2: Don’t bother painting
Painting is cost effective and makes a HUGE difference. It covers up holes in the walls, and can make your rental property feel inviting and comforting with the right colors. Neutral colors with bright accents work well.
Mistake #3: Bathroom upgrading is too messy
Oh yeah? Well, consider that the tenant is paying close attention to the bathroom. They don’t want to have to deal with leaky showers, toilets, or sinks. The bathrooms should ‘smell’ fresh and clean, and should have good lighting (NOT florescent bulbs). If you don’t need to replace faucets, be sure they are very clean and shiny! An electric scented candle is a really nice touch.
Mistake #4: Ignoring the all important kitchen
Like the bathroom, tenants often make decisions based on the kitchen. If your appliances are up to date, consider easy repairs such as staining the cabinets, replacing knobs, or adding new flooring. You can sometimes add new flooring on top of the existing flooring at a more reasonable cost. Be sure that the inside of the stove is very clean, as well as the inside of the refrigerator. If those are dirty, that can really turn off a prospective tenant.
Mistake #5: Don’t bother with ‘staging’
Not sure what that means? Staging is attention to the little things that make your rental ‘earthy’ and aesthetically appealing. For a small investment, you can purchase some paintings to match your wall coloring, put area rugs in strategic places, and put pillows or throws in the right spots. Don’t forget that mirrors make the room look bigger, so add mirrors in the kitchen, bedrooms and other choice locations. Go to Pinterest for ideas.
Mistake #6: Don’t consider first impressions
When a prospective renter pulls up to your property, you should catch their eye right away. Isn’t that important when you first meet someone in person? You should dress nicely and professionally when meeting a tenant. Your property should give a first impression as well. Have a welcome mat outside the door, and make sure the door is painted and has polished hardware. If an outdoor grill is visible, it will impress, and so will on outdoor chair or lounger.
Mistake #7: Don’t waste your time pampering
If you just consider your tenants as money generators, you are probably not a good landlord. They are people that want to start the next chapter of their lives in your dwelling. Make them feel at home by offering a welcome package, possibly with some snacks or chocolates and a bottle of wine. They will appreciate if you have a community newspaper, or some local guides that include local restaurants, nightclubs, and gyms. While you are at it, be sure to offer some incentives for your tenants to pay their rent in a timely manner and give them your contact info right away.
Mistake #8: Just use your previous photos
As you follow the previous advice, don’t forget to take new photos of your beautiful property. Now is the time. Use a high quality camera or cell phone and upload as large of an image as possible. Be sure to include all living areas, the kitchen, bathrooms, and storage areas. DO NOT include people, animals, or areas with bad lighting. You want to make your rental bright and inviting.
Ok, so all this may not be easy. But realize that you will get a return any time you improve your rental property, and you will fill you vacancies faster when your property makes a great first impression. And you will feel good knowing that you are being a good landlord that tenants will want to stay with.