How to Make Your Rental Property More Appealing in a Competitive Market

How to Make Your Rental Property More Appealing in a Competitive Market

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How to Make Your Columbia South Carolina Rental Property More Appealing

More and more people are purchasing rental properties because they can offer a high ROI, high leverage, tax advantages and a number of other benefits. This means that renters typically have their fair share of options when searching for a short-term or long-term home. While purchasing a rental home is a great way to enter the real estate investment world, you must figure out how to set your property apart from others. Whether you’re a potential buyer or already own a rental property, these tips can help you make your property more appealing so that it attracts more renters.

Feature the location

One of the most important aspects of a rental property is its location. If you’re looking for a property to purchase, consider that the location will play a major role in desirability, occupancy rate, appreciation, profitability, and rental strategy. Tenants will often settle for a home with fewer amenities if it’s located in a hotspot, and you will stand a greater chance of keeping the home rented out, as well as seeing the home increase in value over time and bringing in more income. If you already own a property, even if it’s not in the most desirable location, find out everything about local attractions. Then, showcase the location of the property when you list it online.

Cover the basics 

When you’re preparing your property for renters, there are some essential projects that must be done to make it more appealing:

 

  • Deep clean. Cleanliness is important to pretty much anyone who is looking to rent. Declutter every room, clean every inch of the home, and keep it that way. Consider hiring a cleaning service to maintain it. 
  • Up the curb appeal. Shaping up the landscaping, throwing a fresh coat of paint on the front door, and replacing the mailbox and house numbers are a just a few ways you can leave renters with a great first impression.

 

  • Fix minor issues. If there are any minor repairs needed that you can DIY, go ahead and tackle them. This could be replacing a broken cabinet handle, fixing a small hole in the drywall or anything else that can turn off renters.

This is also a time to determine whether you want to enlist the help of a property management service, which can take care of your rental if you live too far away to do so yourself. When you’re shopping for companies, find one that can offer you 24/7 support, as well as one that will carefully screen tenants and provide you with up-to-date information about your property.

Spruce it up

Once you take care of the basics, it’s time to consider the overall design and vibe of the property. Make sure you have attractive furniture, pillows, and light fixtures. Upgrade any hardware that needs it (door/cabinet handles, shower hardware, towel bars, etc.). Also, don’t hesitate to freshen up the paint on the walls and trim. The smallest touches can make a big difference when it comes to attracting renters and making them feel at home.

Make a killer listing

Last, but not least: Make renters want your property through effective marketing. Show off all your hard work by creating a great listing that emphasizes the positives of the property without misleading renters. Provide detailed descriptions of the layout, amenities and local attractions, as well as professional photos. Remember that your property is probably not the only one that a renter is considering. Your listing is your first chance of winning them over.

With the high competition that comes with real estate investment, it’s important that you make your rental property stand out. Be sure to capitalize on your property’s location and to do any necessary DIY tasks. Then, take care of the smaller touches and create a listing that shows off your property. The more thought and effort you put into your rental property, the more likely you will see a return on your investment.

 

If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Can we make you an offer on yours?

Click here now and fill out the form or call our office at 864-272-5400 and we’ll make you a fair offer today.

 

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