8 Tips to Attract Quality Tenants
A quality investment property in an urban location near transport, cafes and businesses is highly likely to attract a quality tenant
1. Make a great first impression
If your investment property is a house with a front garden, spend some time tidying up the garden beds, remove any weeds, water blast the paths, paint the fence and clean the windows. If you own an apartment, perhaps add window boxes, clean the front door or give it a fresh coat of paint and add a new front door mat to make the place more welcoming.
2. A bedroom sanctuary
Natural lighting will make a room feel fresher along with neutral coloured walls and carpets. Block out blinds are a great idea for the late risers. Bedroom lighting is really important in creating atmosphere and you may consider adding dimmer switches. Also storage is highy important so it is worth considering having built-in robes installed.
3. Luxury in the bathroom
It's nice to have a bit of luxury, but this doesn’t mean you need to spend a fortune on re-doing the bathroom, this can be achieved relatively economically.
Replace any old shower curtains, shower heads and fixtures, scrub away any mould and if need be put in a new vanity – these are relatively cheap but make a huge difference to the presentation of the bathroom.
4. Kitchen makeover
The kitchen is the heart of the home and like bathrooms. A fresh coat of paint can work wonders in a drab kitchen, especially if cooking splatters have become a feature! Don't forget your worn tiles - a little primer and paint can make a huge difference.
Modern appliances will not only be appealing but can save you moneyu in the long run as they will require less maintenance. You could consider replacing the dishwasher, oven or fridge. If you don’t have a dishwasher it is worth adding one as this will automatically increase the appeal of your property. These aren’t ridiculously expensive and if you are handy you can install it yourself.
Swapping cabinet doors can give your kitchen a whole new look. If entirely new doors are outside your budget you can make a huge difference by simply replacing the handles of your cupboards and drawers.
Have a look at the kitchen benchtop – if it is damaged with stains and scratches, it would be worth replacing it with a cost effective option such as laminate. This will help freshen up the whole room and won't cost a fortune.
Finally, if your kitchen floor is a little worse for wear, lift the lino and if you have them, polish the floorboards underneath – if they are in good enough condition - otherwise lay vinyl flooring, which is easy to clean. Alternatively, you may like to use tiles for a contemporary cool feeling.
5. Add off street parking
A car space can be a huge bonus especially if your rental is in a high density living area such as the inner city or in the beach side suburbs. In fact, the closer your place is to the city the more appeal the parking space will add to your property. Perhaps you could add a car port out of the front of the home or create a drive way in the front garden.
6. Add a laundry
Internal laundries are desired by many tenants and can certainly increase your investment property ROI. Perhaps you can make some space in a bathroom, the hall way or in the kitchen to fit a washer /dryer. Tenants will love the convenience of an internal laundry and happy to pay a bit more.
7. Outdoor entertaining space
An outdoor entertaining space is a great draw card for tenants and in Australia as we love being outside…plus it will add value to your property when you go to sell. You don’t need to spend a fortune, simply by adding a deck, tiling a courtyard, adding a gazebo and BBQ will be a big draw card.
8. Other appealing features are:
- Well maintained flooring – either fresh carpet or good quality floor boards and rugs
- Good cable connection for internet and Wi-Fi, a strong signal for smart phones, and multiple power points to facilitate simultaneous connections across a multitude of platforms
- Air conditioning and heating
- Fresh window coverings – either quality blinds, shutters or curtains
Every property is different so before you look at making any changes to your investment make sure you talk to your property manager as they are the best person to advise you on whether any of these changes will help attract quality tenants in your area.
For any futher information, please feel free to call us on 8269 7711!