I wanted to add clarification to our prior post titled 12 Tips for 1st Time Landlords In The Baltimore Market, and more specifically to #8 about how your home needs to show.
Many homeowners, after reviewing our Sell Or Rent It Out Kit, decide that they want to rent out their home. For whatever reason, financial, emotional, etc., they decide that renting is the way to go. What they don't realize is that when you rent out your home, you want to stage it and show it just as you would if you were selling it.
>> See Staging Your Home To Sell
>> See How a Staging Consultation Can Help Your Rental Property Stand Out
>> See How To Prepare Your Home For The Rental Market
You can't just throw any old property on the market, photograph it and expect to get top dollar. There is a lot of competition in the rental market these days and you need to put some time, energy and, perhaps, dollars into sprucing up your home.
So every time a Landlord says to us "...but it is just a rental", we tell them that it is not "just a rental" to the tenant. It is their home and, in order to get the best tenants, you need your home to show its best.
>> See Want To Avoid Landlord Horror Stories? Choose Your Property Manager Wisely!
>> See What's Involved in Becoming a Landlord? Property Management eBook Explains
Tips For Landlords: Renting Out Your Home Means Making Your Home Look Its Best To Prospective Tenants!
Here are a few things to think about:
1. Your home exterior
When is the last time that you weeded, painted and spruced up the exterior of your home? It may be time. First impressions matter and if your home does not show well from the exterior, prospective tenants will pass you by and just go to the nearest new apartment complex.
2. Your interior paint
Are there a lot of crazy colors? Smudge marks, dents, dirt? Then it is time to paint. You can't expect a good tenant to accept less than an excellent property. Though this may be "just a rental property" to you, the landlord, it is going to be a home to the tenant. If you want the tenant to take care of the home just as if it were their own, then turn it over to them in excellent condition so that they can feel your pride of ownership and turn it back to you the same way.
3. Your carpet/flooring
Are there stains? Rips? Crazy colors? Once again, this is going to be the tenant's new home and neutral decor is the way to go. Think about a new apartment complex. The model apartments are staged with neutral colors and a sleek, clean look.
You need for your rental property to be as clean and sleek as possible so that you can compete and win.
4. Your stuff
Yes, it is time to remove all of your clutter and excess belongings. Pack it up and/or get rid of it. You can't expect tenants to "look past it". They can't and they don't have to. For tenants with excellent credit scores, they have options so, if you want them, your home needs to look its best.
5. Home repairs that you have been putting off
It is time to tackle those repairs that you have been putting off. You have a responsibility in the lease for all systems to be working and safe and you want your home to aesthetically be at its best.
So put some "sweat equity" and money into repairing anything that you have been putting off. Now is the time.
Tips For Landlords: The Best Tenants Want The Best Properties!
Why does this matter? Because the best tenants want the best properties. They have choices and you want your home to be considered by this group of tenants. These tenants pay their rent on time, take care of your home, abide by the HOA rules and regulations and, sometimes, even add value by taking on your pride of ownership.
These tenants are worth wooing and we are here to help you every step of the way.
