Sometimes it can be difficult for investment property owners to stay on top of the latest trends in home design, but knowing what renters really want can make a big difference when it comes to filling your property. Here are five of the top things that today’s renters are looking for when deciding whether or not to sign a lease.
- A large kitchen with a lot of storage. Renters (especially women) know that the size of a kitchen can make or break a house. Prospective tenants want kitchens with plenty of counter space, storage space, and walking room. If your property doesn’t have a large kitchen, consider renovations. If a major renovation is not in the financial cards, look at smaller changes you can make, including adding a rolling island or open shelving.
- Light, neutral paint. Neutral paint is a great way to make a home feel clean — like a blank slate for renters. Keeping the colors light will help the space feel bigger and more airy. A nice, neutral gray is a very modern choice that today’s renters love.
- Upgraded lighting fixtures. Nothing can make a house feel more “dated” than old light fixtures. On the flip side, upgrading the lighting fixtures is an easy and relatively inexpensive way to update a house and give it a modern feel. Many of today’s renters like a more “industrial” look, but you also can’t go wrong with classic fixtures that are widely appealing.
- Carpet that is in good shape. Old or very dirty carpet will be immediately off-putting for potential renters. Make sure to at least have the carpets professionally cleaned. If they are particularly bad, replace them.
- Crown moulding and clean baseboards. Adding crown moulding to even a few rooms in your property (including the living room, family room, and maybe the master bedroom) is not too difficult and will give your property a “luxury” feel that renters love. Similarly, clean or upgraded baseboards will change the look of a room as well. If they are very old and you can’t afford to replace them, try giving them a fresh coat of paint instead; it will make a big difference!
Today’s renters want homes that are well-maintained with an upgraded feel. Focusing on these five key aspects will help you find a renter for your home quickly. Another thing that will help make the process more painless is using a property management company. These companies will prove invaluable in making sure that your rental property is consistently profitable, and a fantastic investment.