Got a gem of a rental property but not getting any bites?
With just the simplest of home updates, you can instantly boost your property’s rental appeal and attract the right tenants.
Get started with these perfectly profitable rental property updates.
Add a fresh coat of paint
For the cost of a few cans of paint, you can very easily revive tired old walls, brighten up dim rooms and highlight interesting architectural details. The key to painting a rental is to keep it neutral – think creams, beiges and whites. And for a super polished look, don’t forget to touch up doorways and skirting boards with a hard-wearing semi-gloss or gloss paint. If the outside of your property is looking a bit world weary, choose a suitable exterior paint that can handle extreme weather conditions.
Create some space
A light and bright open floor plan is highly regarded by tenants of all ages and demographics. If your property has a small kitchen, dining or living room, look into any available options for opening up the floor plan as it will increase light and make a small space appear much larger. While you’re at it, look at simple ways to improve existing outdoor spaces. Tiling the courtyard, putting up a gazebo or extending the desk can all increase your rental returns, as well as add value to the property.
Update the kitchen and bathroom
This doesn’t have to mean an extensive renovation – it can really be as simple as cleaning up the kitchen and bathroom with a good old-fashioned scrub and dusting. For a more permanent kitchen update, new handles and a lick of paint on the cabinets will work wonders. Or if you have a bit more to spend, win over renters with new stainless steel appliances and an updated benchtop or backsplash. As for bathrooms, consider small touches like replacing taps and hardware, respraying your tub to hide flaws or regrouting for a fresher finish.
Clean up the carpets
Giving your property a thorough clean is essential, and floor coverings are a good place to start. If your property has very old carpets, it could be time to replace them. For carpet that’s still in good condition, organise a professional steam clean for ideal results.
Store it away
Storage space is a forgotten feature that can really enhance a property and lure in tenants. Built-in wardrobes are highly regarded by renters, as is an outdoor storage shed. You could also look into alternative storage such as shelving units or a cupboard underneath the stairs.
Make the most of your rental property
If you’re looking for ways to get the most out of your property, consider the difference a property manager could make to your portfolio. Contact property management specialists K.G. Hurst for more information.