If you want to reduce the risk of vacancies with your rental property, it pays to invest some money into upgrading the unit. Simple things like a fresh coat of paint are one thing, but tenants deserve to have a unit that they enjoy living in. Keyrenter Property Management Main Line, PA, is here to provide you with some tips we have learned over the years about upgrades and tenant satisfaction.
Install New Flooring
Flooring can make a drastic difference for a tenant, and can attract some new tenants when you do have a vacancy. Wood flooring is extremely popular, and one of the best options for landlords as it is easy to maintain and lasts for years. Carpet is not a good idea for rental properties as it tends to wear out fast, and with the move-ins and move-outs over the years, the carpet can wear out quickly and starts to look dated and dirty. Carpeting tends to wear out in about 5-10 years or less.
Wood flooring can be replaced by professionals, but some landlords even have the capabilities to replace the flooring on their own. If a part of the wood flooring is ruined, it can be replaced in a section instead of needing to replace the entire floor like you do with carpet. One pro tip, opt for the lighter-colored flooring options as they can hide scratches and flaws easier than darker flooring.
Curb appeal is an essential component of a good listing. If you have a nice interior, but the exterior of your property isn’t attractive, it can be hard to catch the eye of potential tenants. Landscaping the property helps to boost its value, but makes it more attractive to tenants. In addition to making the property look nicer, the existing tenants will appreciate having a property they can be proud of.
Consider hiring a landscaper to come and trim hedges and trees, and to keep the property looking fresh. Landscaping doesn’t just mean flowers and trees, consider replacing an old sidewalk, or one that is starting to show signs of age.
Give your property a small remodel by purchasing some new appliances. Simple appliance upgrades allow a tenant to have some modern convenience within their home. Perhaps you do not currently have washer and dryers inside the units, now is a time to think about adding them. Tenants are looking for ways to make their lives less stressful and more convenient. Offering new washer and dryers within the unit is a great way to keep your tenants happy. Plus, new appliance upgrades can be added onto future rent costs when you are updating tenants lease agreements upon their anniversary date.
Keyrenter Property Management Main Line, PA provides property management services to landlords of single family homes, duplexes, condos, and small multifamily units. Our purpose is to help landlords maximize the return on their investment property while eliminating the stressors associated with being a landlord (including bad tenants and maintenance issues). Services we offer include: property analysis, setting rent, tenant placement, leasing services, maintenance coordination, tenant relations, property inspections, rent collection. We offer superior customer service. Because we know how to find quality tenants that can meet the terms of their lease agreement, using Keyrenter’s 14-point tenant screening process, our eviction rate is below 1%.