5 Ways to make your investment property tenant friendly
Most prospective tenants have a wish list of desirable features in their new home. If you can provide these in your investment property, your chances of finding a good, long-term tenant improve. This not only gives you peace of mind that your property is being cared for, but quality tenants are more likely to pay their rent on time, every time. We’ve outlined five key things that will make your property more tenant friendly below.
Allow pets
Allowing pets on your property may appear to be a big risk, but with pets in over half of American households, it can be a wise move. Not only does it attract more potential tenants, but people who have pets tend to sign longer leases. This can give you and your tenants more stability. With the increase of fraudulent support animal claims you need to be especially careful when screening for pets, support animals or service animals. Wellspring Property Management uses Petscreening, which helps separate the legitimate support animals from the fraudulent ones.
Consider a low-maintenance landscaping
Consider planting a low-maintenance landscaping if your property has the space. Hardy plants that don’t require a lot of pruning are ideal. Xeriscape is also a great way to add curb appeal to your property. Just like real estate sales, curb appeal can help you get more rent, faster turnover, and tenants who want to take care of your property.
Keep paint colors neutral
When it comes to painting the walls in an investment property, neutral is best. Stick to white shades that allow your tenants to put their signature on the place when they’re furnishing and decorating. Neutral paint shades are also good for resale. A great tip to keep track of paint colors is to write the name and brand on the back of the light switch in the room.
Include quality fixtures and fittings
Quality and simplicity should be the goals of any fixtures and fittings in your investment home. Consider making some improvements if any of your property’s fixtures and fittings may need an upgrade. Stainless steel equipment in the kitchen and sleek, modern lighting fixtures that are easy to maintain are two key features that tenants may be seeking for.
Putting some consideration into what tenants are looking for in an ideal house might be the difference between leasing your property in days and having vacancies for weeks. Consider making your home pet-friendly and adding a low-maintenance landscaping to make your property stand out on the market regardless of when it becomes available.
Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.
