There are so many excellent reasons to make your Golden, CO rental property more appealing.
For starters, you’ll earn higher rents. No one wants to spend a lot of money on a property that looks old, worn, or just like every other property on the rental market right now.
Also, you’ll attract better tenants. When you’re offering a rental home that’s well-maintained and full of updates and appealing improvements, you’re going to have a lot of potential residents competing for your home.
Finally, there’s the benefit of tenant retention. When tenants love where they live and feel like they’re having a great rental experience, they’ll renew their lease agreement, saving you from expensive turnovers and unpleasant vacancies.
How can you maximize your rental property’s appeal?
At Laurel Property Services, we’ve spent years working with landlords and property owners in Golden on this very thing. We have some ideas to share.
Does Your Rental Property Need Some Curb Appeal?
Let’s start with exterior because that’s what prospective renters are going to see first. How is your curb appeal, and does it need some work? This is an excellent area to maximize because those first impressions are so important. The look of your rental property, whether it’s a single-family home or a unit in a multifamily building, will help prospective tenants decide whether or not they want to see the inside of the property.
Here’s how to enhance your property’s curb appeal:
- Maintain the Landscaping
Start with the basics. Mow the lawn, trim hedges, and remove any weeds or dead plants. Consider planting some low-maintenance shrubs or flowers to add color and interest. If you don’t have the time to maintain the landscaping yourself, hiring a professional service can be a worthwhile investment and a benefit that your tenants will appreciate.
- Freshen Up the Exterior
A fresh coat of paint can do wonders for a tired-looking home or building. If it’s been more than a decade since you’ve painted the exterior, it may be time. Not feeling the paint? Pressure washing the siding, driveway, and walkways can also brighten up the property.
- Update the Front Door
The front door is often the focal point of a property’s exterior. Replacing an old door with a new one or simply updating the hardware can make a big difference. Consider painting the door in a bold, inviting color to add character and make the property stand out.
- Improve Lighting
Adequate outdoor lighting is essential for both safety and aesthetics. Install modern fixtures along pathways, entryways, and the porch area. Solar-powered lights are an energy-efficient option that can add a welcoming glow without increasing utility bills.
- Keep Exteriors Clean
Cleanliness is an important part of maintaining curb appeal. Ensure that the property is free from litter, fallen leaves, and debris. Regularly clean windows and gutters, and keep those trash and recycling bins in their place.
Focus on Floors for Value-Enhancing Upgrades
Floors are a big deal in a rental property. If you have carpet throughout your property, make sure it’s clean and free from rips, stains, and excessive wear. If you’re looking for ways to make your property more appealing, more valuable, and easier to maintain, consider installing hard surface floors. Hardwoods would be great, but you don’t have to make that large of an investment. There are vinyl plank surfaces and faux wood that look phenomenal. Here’s why hard surface flooring is an improvement that’s worth your investment dollars when looking for ways to maximize the appeal of your property:
- Tenants love the look of hard surface flooring, especially in common areas such as living rooms, dining rooms, and dens.
- It’s easier to clean and maintain. Tenants don’t have to stress about stains and spills, and you don’t have to professionally clean or replace carpet during every turnover.
- Hard surface flooring is healthier. More and more tenants are sensitive to smells, dust, and dander – all things that carpet fibers hold onto. There are fewer allergens in hard surface flooring.
You’ll find you can increase your rental value when you’re renting out a home with hard floors. They’ll look great in marketing photos and impress prospective tenants during showings.
Modern, Energy-Efficient Appliances
If you’re not already offering in-unit laundry, you should consider investing in a washer and a dryer, so your tenants have this accessible to them. Such appliances increase the value and the attractiveness of your rental property.
As you’re assessing the appliances that you’re providing in your Golden, CO rental home, think about whether it’s time to update the kitchen appliances as well. Tenants are particularly attracted to energy-efficient models that are quieter, use less energy, and save money on their electric bills. You’ll find that not only is the money-saving feature extremely appealing, but so is the greener lifestyle. More and more tenants are prioritizing sustainability and eco-friendly features when they look for a home.
When your appliances begin to look old or you’re being called to repair them over and over again, replace those products with appliances that carry the ENERGY STAR rating.
Faucets and Fixtures
It seems so simple, but one of the best ways to make your rental property more attractive is with cost-effective updates that are small but mighty. Think about new faucets or brand-new drawer pulls in the kitchens and the bathrooms. A tile backsplash behind the stove or the sink would look very attractive.
A new mailbox could make a difference. Better window blinds. Consider replacing older ceiling fans and updating the shower heads in your property’s bathrooms. These types of improvements do not cost a lot, but they bring a lot of extra appeal to your property.
Invest in Smart Home Technology
Lately, tenants in Golden have been looking for smart home tech. It’s becoming a bit of an obsession, and if you want a competitive edge on the market, make sure you’re providing something that tenants can’t find elsewhere.
Maybe it’s a video doorbell or a smart thermostat. Maybe you’ll make your property more attractive than all the others because you’re providing high speed internet services and including that cost in your rent.
