The attractiveness of your property can significantly enhance your chances of attracting prospective tenants. First impressions matter, especially when it comes to a rental property's curb appeal when it comes to a rental property's curb appeal. To make your property stand out, ensure you make the necessary improvements that can contribute to its appearance.
1. Landscaping
A well-maintained lawn can significantly boost your rental property's curb appeal and show potential tenants that you maintain your rental property. You can regularly mow your lawn and trim weeds to make your yard look neat or hire a gardener to maintain it regularly. Try installing window box planters or adding a flower bed to add a burst of color and boost curb appeal.
To make the property's exterior cleaner, you can power wash the walkways to remove dirt and grime, as well as prevent mold and mildew growth. You may need a power washing machine for tough surfaces like concrete or brick, especially since moldy pathways point to poor curb appeal. Overall, it will enhance your property's value and appeal.
What You'll Need:
- Power Washer
- Gardening Tools
- Seeds or Seedlings
- Lawn Mower
- Planting Soil or Fresh Mulch
- Fertilizer
2. Improving Building Appearance
Revamping the rental building itself is among the most important projects to prioritize. The home's exterior could use a fresh coat of paint if the color appears weathered. Even simply applying fresh paint on your front door can contribute to effectively enhancing curb appeal. Just keep in mind that a fresh coat of paint won't do much if there's visible damage on your walls or front door.
Install outdoor lighting to highlight the improvements you've made, as well as improve nighttime curb appeal. You can use energy-efficient LED lights or solar landscape lights, allowing potential renters to appreciate a strong curb appeal no matter the time of day. Consider whether you need to install new outdoor lighting fixtures to modernize the appearance of your building.
What You'll Need:
- Fresh Paint
- Paint Brushes
- Paint Rollers
- Paint Tray
- Painter's Tape
- Ladder
- Drop Cloths
Note: To replace or add exterior lighting, it's recommended that you hire a professional. Tinkering with electrical systems can be dangerous without the right expertise.
3. Installing New Hardware
Replacing hardware like shutters and garage doors will not just add to the property's curb appeal, it will also attract quality tenants who expect everything to be in working order. Modern and stylish exterior lighting fixtures can go a long way in adding to property value, and you can opt for inexpensive improvements as well like new doorbells or light bulbs.
Look into hardware that is often overlooked such as address numbers and mailboxes. While these features already blend into the background for your current tenants, potential tenants will subconsciously include these factors in deciding whether they should consider your rental property.
4. Adding Outdoor Furniture
Your rental's curb appeal will benefit from a few additions to your outdoor space. Make the most out of your landscaping efforts by adding a few pieces of furniture so your tenants can have a place to spend leisure time, and prospective tenants will appreciate the property's curb appeal.
Adding new planters is among the most cost-effective improvements you can make, but you can also add benches and tables to create a welcoming environment for potential renters. You can consult decorators so the furniture can complement the architectural details of your rental property.
How Increasing Curb Appeal Will Benefit Your Rental Business
Improving your rental property's curb appeal says a lot about you as a landlord. A well-kept property shows you care about your residents, and interested renters will come lining up in no time.
It Will Attract Potential Tenants
You're probably aware by now that first impressions matter and a positive first impression makes a big difference in renter prospects. Not only will this add curb appeal for locals, but your rental listing photos will also look better. An attractive property will turn more heads than a dull one, and that's true whether it's virtual or in-person.
It Increases Your Property's Value
Property owners invest in improvements since enhancing the property's appeal can contribute to increasing its value. Of course, you will have to keep it well-maintained, or you can hire property managers who ensure you have responsible tenants and maintain the property for you. Regular maintenance is a responsibility that property owners need to follow, with or without upgrades.
It Justifies Higher Rental Prices
A good curb appeal can allow you to charge higher for rent. Tenants would be more compelled to live in a place that looks good on the outside, just as much as it does on the inside. The home's exterior is the first thing people see, after all, and a rental real estate listing needs to match its price with the appearance.
Are Upgrades Expensive?
That will depend on the kind of improvements you're planning to make. If you're on a tight budget, something as simple as applying exterior paint to accentuate architectural features can prove to be effective. Adding potted plants and landscaping is also a cost-effective way to achieve a well-maintained yard. Ultimately, you should calculate whether the upgrades are worth the cost.
You can calculate the return on investment (ROI) by using the formula:
(Increase in income or value - Cost of improvement) ÷ Cost of improvement
Other than the cost of your project, you should also include the duration of the upgrade and the lost rental income if applicable.
Maximize Rental Value with Professional Property Management
Making improvements is only half of the work. The real challenge comes with maintaining your rental property so your investment does not go to waste. Even experienced landlords can sometimes fail to conduct regular maintenance due to all the attention a rental property demands, and that's where property management companies like PMI Georgia can help.
We can provide you with access to a network of reliable vendors, coordinate maintenance requests, and enforce lease terms for smoother business operations. Protecting your investment is our top priority.
There's so much more we can do for your rental business. You can schedule a consult to discover how a property manager can benefit you, or contact us for other inquiries you might have!
