When you buy a property, making your rental property stand out from the competition is key to optimizing your ROI. While focusing on the interior aspects of a rental property is important, it’s even more important to not neglect a property’s curb appeal.
How your property’s curb appeal looks can either make or break your efforts of trying to rent out your vacant property. If the property is not appealing, it’ll discourage prospective tenants from even wanting to know what the inside is like. On the other hand, when it looks pristine, it can help you in your marketing efforts.
For starters, curb appeal encompasses more than just the landscaping. It includes everything from the paint colors to the lighting, and everything in between. In this article, Five Star Property Management will walk you through 5 tips on how to boost your rental property’s curb appeal.
5 Tips on How to Boost Your Rental Property’s Curb Appeal
1. Add a New Coat of Paint
Does the wall paint look like it has seen better days? Does it look tired and dirty? That could be a sign that you need to repaint your property for a fresh and updated look, which could impact your rental property’s ROI.
The following are some signs to be on the lookout for when considering whether or not to repaint the exterior of your property:
- Peeling or bubbling paint.
- Chalky residue.
- Fading or discoloration.
- Chips or cracks.
- Mold or mildew growth.
Be careful about your choice of colors. Why? Rental properties are meant to be attractive to a broad audience of prospective tenants. As such, go for neutral colors, such as grey, beige, or white. It goes without saying that you should only go for professional workmanship. Otherwise, you risk having such efforts of revitalizing your curb appeal go to waste.
2. Manicure the Landscaping
This can be as simple as just ensuring your lawn is mowed regularly. Ideally, this should be at least once every week. Manicuring the landscape often involves getting three things right. One involves lawn care. This can include things like mowing, watering, aerating, fertilizing, and weed control. The other involves garden bed maintenance like mulching, pruning, and deadheading. Lastly, edging and trimming to clean up around shrubs, trees, and garden beds.
Make sure to specify who is responsible for what when it comes to lawn maintenance in the lease agreement. This can significantly help to reduce any potential conflicts and/or misunderstandings. Generally speaking, though, lawn maintenance is a tenant’s responsibility if they are the sole users.
3. Diversify the Plants in Your Property
A clean-cut lawn is great! You can also go a step further and boost your curb appeal by diversifying the flora you have in your rental property. This can include trees, bushes, and flowers.
Consider beautifying the front walkway of your rental property by planting flowers. If the building is an apartment, you could plant the flowers along the first floor. Go for easy-to-maintain options like hydrangeas. These are not only colorful and beautiful, but also easy to maintain as well.
Other plants you consider should, ideally, follow this general formula – more beauty, but less upkeep. This will ensure your curb appeal looks great but on a budget when it comes to groundskeeping costs.
4. Invest in Attractive Lighting
Safety is a top consideration for tenants when looking for a rental home. Quality tenants who pay rent on time, every time want to live in a safe and habitable home. Lighting plays a huge role when it comes to safety at night. Some studies have shown that less crime occurs in homes that are well-lit at night, whether or not someone is at home.
One great option to go for is decorative solar lights. You can use these to decorate your walkways. You can also place them near shrubs or trees and along the property borders. In addition to lighting up your property’s exterior, you can rest easy knowing you will be paying zero dollars on electric bills.
5. Clean the Windows
All exterior windows are still part of your property’s curb appeal. If they are damaged or dirty, they could discourage prospective tenants from wanting to rent your property. Make replacements, if necessary, and give them a thorough cleaning. Depending on how many units you have, the number of windows to clean can be several to hundreds. Go for a professional cleaning service to obtain the best results.
Why Does Curb Appeal Matter for Landlords?
Revitalizing the curb appeal of your rental property isn’t a fruitless effort. The time, effort, and expense will pay back in more ways than one.
The following are some benefits you stand to get:
- First Impressions Matter: The curb appeal of your property is the first thing that prospective tenants will see. You could have the best house on the block, but if prospective tenants are always hesitant to view it, you may have a difficult time renting it out.
- Attract and Retain Quality Tenants: A property in great condition is sure to attract and retain quality tenants. It can also help set the standard for the condition the tenant should keep the property at.
- Increase Property Value: An increase in property value can help you rent out the property for much more rent.
Conclusion
Keep the walls looking fresh, manicure the landscaping, plant diversified flora, light up the exterior, and clean up the windows. While this list isn’t exhaustive, these tips are sure to get you started on your way to sprucing up the look and feel of your property.
Are you renting out a property in Pocatello, ID? If so, Five Star Property Management can help. As a full-service property management company, we can help you handle all your property management needs. Get in touch today to learn more about our services!