While it is vital to upgrade your rental amenities and furnishings, improvements should not focus on that alone. It is also crucial to create a striking curb appeal since it will elevate your rental space from other units in your neighborhood.
What is Curb Appeal?
The curb appeal for your property is measured by how attractive your exteriors are and this can refer to many factors, such as the structure’s color, architecture, and landscaping. All these are factored into your building’s curb appeal.
Curb Appeal is Critical
Curb appeal is crucial in attracting more potential renters since it can enhance your property photos posted on a rental listing site. You can also catch the attention of prospective renters passing by, which can lead to more inquiries and scheduled property tours.
In addition, a superb curb appeal allows you to price a property higher than others. It is best to check the local rental regulations to ensure you comply with existing rules.
Determining The ROI on Curb Appeal
An attractive curb appeal can help decrease property vacancies and engage more potential tenants while increasing ROI. It does not need to be costly. You may even only require cans of paint every couple of years to freshen up the appearance of your property.
If you worry about the additional costs of upgrading your rental, property vacancies can even be more expensive, so it is far more logical to spend on enhancing your curb appeal than dealing with the maintenance and marketing costs of a vacant rental space.
Improving Your Property’s Curb Appeal
Some tactics for enhancing your curb appeal are simple and yet some landlords fail to adopt them. Good options include:
1. Applying Fresh Paint
A new layer of paint can greatly improve your rental unit. This is easily one of the most affordable ways you can improve your curb appeal. Paint can fade or appear dull over time so applying a new coat can freshen up the appearance of your rental unit.
Sometimes, you may encounter renters who want to change the color of your rental. You can allow flexibility with tenants painting your walls, as long as consent is sought and conditions are followed.
2. Landscaping
Even though it can be as simple as mowing your lawn weekly, removing the weeds, and trimming overgrown plants, keeping up with your curb appeal maintenance can be worth it.
It signals to potential tenants that your standards are high and it will also deter intruders from entering the unit as units with well-maintained lawns inform them that residents exist. Overgrown branches can also damage homes when a storm occurs so keeping abreast of outdoor maintenance is critical. It is recommended to also check on your gutters.
3. Install Eye-Catching Lights
It is expected that your rental home is well-lit to make it look welcoming. You can also generate more interest when you install decorative lights to enhance your rental’s curb appeal. Adding solar lights can help you reduce your utility bills and can brighten up dim areas that are prime hiding spots for trespassers.
The best thing about upgrading your lights is the variety of choices available. You can have quality lighting at a minimal cost. You can also add more lights during the holiday season to make your rental space more attractive to others.
4. Clean Windows
The next maintenance task you will want to focus on is your windows. Getting them cleaned is essential to create a neat look since people can spot dirty windows. You will want to hire cleaning specialists if you have lots of windows on your property.
5. Add Planters and Diverse Plants
Another way to keep your rental property attractive is by incorporating trees, bushes, and more plants. It can make an impact on your photos when advertising your rental.
Flowers can be placed outside the unit or on window boxes. Colorful flowers can capture attention in a good way. Just make sure that maintenance is simple to limit additional costs and effort.
Ensure that you add the right type of plants since some can be hard to maintain or can cause damage. You may also be able to hire a seasonal landscaper to keep your rental yard in excellent condition.
6. Maintain Your Roofing
Your roofing ties your rental home’s exteriors. If the condition is bad, it can affect the overall appearance of your property. Take time to regularly inspect your roof and fix damages.
To gain long-term renters, strive to perform repairs for property issues without waiting for the residents to contact you for a maintenance request. Doing so also helps increase tenant retention which can lead to a decreased need to market your rental space.
Bottom Line
Curb appeal refers to the visual attractiveness of your property from the outside. A property that looks well-maintained and inviting is more likely to catch the eye of prospective residents.
The time and money you invest in these upgrades pay off, as a visually appealing property can lead to higher rent rates, and therefore maximizing your overall return on investment.
If you are seeking a trusted property manager to handle your property’s curb appeal upgrades, contact KRS Property Management today!