Time is money. The longer your rental property sits without a renter in it, the more rental income you are losing.
While the real estate market is hot in Denver right now – that includes the rental market – one of the old adages is always true: location, location, location. The more unique your property, the more difficulty you’ll have renting it. What can you do to improve its rentability?
1. Curb appeal
Even renters want a great home to come home to. They don’t want a yard with dead landscaping or a front door that needs paint. If the front door on your property says “scary” more than “welcome home”, consider a little TLC. Sometimes a home doesn’t need a full paint job – just a few touch ups around the front porch will have it looking as good as new.
2. Home Makeover – Painting Style
Have you ever watched those home makeover shows where a room is completely transformed in a matter of hours? While we can’t do that without the help of hundreds of people or a camera crew and a production house, you can do wonders with a can of paint. Those scratches and dings out of the wall board left behind by the old tenants aren’t appealing to a new potential renter. With just a little fixing up and a fresh coat of paint in each room, a house can appear brighter and more friendly than ever before.
3. Stay Neutral
Homeowners today want lots of color and lots of personality. The problem lies in that everyone is different. Renters often look at a rental property through short term eyes. They want something they can move into with their current furniture and personal belongings and call it home immediately. They can add their own flare with pillows and accessories. Leave the bold colors for people who buy. Whites, eggshells and offwhites are your best choices.
4. Kitchens and Bathrooms Sell A Property
Yes, they may only be renters. But the two rooms that will make any renter sign on the dotted line are the kitchen and bathroom. If you only have time for painting a portion of your rental property, start in the kitchen and bathroom. People want bright, cheery fixtures and above all, they want clean. A fresh coat of white paint will do the trick every time.
5. Know Your Competition
There may only be a few rentals on the market. But people are willing to rent a little farther out for more amenities, or a better home. Look at the property through the eyes of a potential renter – what’s the first thing you focus in on? Is it a problem, or is it something that makes you say “I’m home”. Your potential renters feel that too.
If you have numerous properties you manage in the Denver rental market, give us a try. By having a professional painter ready to call, you can give any property an instant fix in no time at all. Give us a call today.