Thereâ€™s nothing like the coming of spring to inspire landlords to renovate their spaces. These renovations can bring top tenants to your properties. Whether you are sprucing up your property to appeal to new tenants, or offering services to veteran tenants, here are a few must-haves this spring season.
Power Wash the Exterior of Your Home
April showers may bring May flowers, but unfortunately, rain canâ€™t wash everything away. Sometimes, rain will actually gather all of that built up dirt in areas where the water has drained off. To anticipate the coming summer, make your rental property look brand new with a good old-fashioned power wash. You may be surprised at how fresh your rental will feel. In addition, if you were previously on the fence about repainting the exterior, a power wash is sometimes all you needed. If you have tenants in your property already, offer to power wash the house to show your appreciation for their upkeep efforts.
Incorporate Some Green
Itâ€™s official: the Pantone color of the year is â€œGreenery.â€ Greenery is a perfect middle ground of both bright and neutral green, and it is a refreshing trend coming out of the winter blues. How do you introduce this into your property? While it is unwise to paint your propertyâ€™s walls in brighter non-neutral colors, you can add attraction to your showing with green accents. Remember that when showing a property, you can boost your chances of getting higher-quality candidates by way of cleanliness and standout details. Adding a pop of greeneryâ€”whether it be with plants, pillows, or platesâ€” will modernize your property and catch the eye of prospective renters. Take note to pick the right shade of green to compliment your property!
Install a Faux Finish on Surfaces
If you want to give your property more personality without breaking the bank, consider accenting surfaces with a faux finish. Gone are the days of cheap linoleum that peels off inside of cabinets and drawers. Today, linoleum and other faux finishes are made with quality in mind, so renters can still feel like they live in luxury without paying penthouse prices. Wood floor tiles, for example, are an excellent way to give the interior a naturalistic and invigorating upgrade without the high costs of real wood floors. Other mediums, such as synthetic quartz, make for a ritzy kitchen countertop without all of the high maintenance care and cost of marble.
Neutral Blue is the Way to Go
Neutral doesnâ€™t always have to be white. If you are thinking of repainting walls or accents, consider different shades of blue. According to psychologists, blue tends to have a calming effect on the psyche, which is how most people want to feel when they come home. Navy, for example, is a great example of a soft tone that isnâ€™t as harsh as black, and can be applied to almost any color palette.
Complete the Look with White Accents
Nothing pairs better with blue than white. White adds a crisp look to any space. Show renter candidates you have a sophisticated style by detailing your property with white accents. Once again, itâ€™s in your best interest to present your property in such a way that appeals to the eye. White accents, such as baseboards, wall hangings, or even tables, can create a grounded space amid any colorful accents within your space.
Space Efficient Appliances
People are renting for much longer than previous generations. In addition, renters are generally marrying later in life, and therefore seek prime properties to live with their friends or significant others. This means that more people are likely to live with roommatesâ€”sometimes three or four at a time. Many of these renters are used to living in smaller spaces, but they would prefer to make the most of what little space they have. Consider this with your renters by installing space-efficient amenities. This may include pullout shelves to set kitchen tools, fold up beds, a stackable washer and dryer, and so much more. Designers are well aware of this trend, so you may be surprised at what you can find.
After making these spring upgrades to your rental, remember to do your due diligence when it comes time to place new tenants. Never skip the background screening; companies like Transunion SmartMove have made it easy for landlords to gather the information they need to find a high-quality tenant. With the right strategies, your upgrades can justify a rent increase and help you draw in better rental candidates.