So you've bought a rental property as an investment and want to find a great tenant who will pay the rent on time and keep the place looking nice. Well, the best way to attract good tenants is to make sure that the house or apartment is in great shape by making certain improvements. Here a few tips to keep in mind as you start this exciting project.
No other renovation project makes a property look as fresh and inviting as a new coat of paint. Giving each room in the place a paint job will tell potential tenants that you care about the property and want to make it look as attractive as possible. When it comes to selecting colors, always choose neutral or low-key colors, such as white, beige, or gray. Loud or dark colors might appeal to some potential tenants, but they could also cause others to turn away and find another place to rent.
Although you might be tempted to paint the rooms yourself, this often results in a job that does not look very professional. Find a contractor who specializes in these types of renovations and have them take care of it. A professional paint job will always be worth the investment.
A key mistake sometimes made by new landlords is to install carpet in their properties. Many renters love carpeted floors, but they are not a good option if you are a landlord. Carpets stain easily and you don't want to be constantly dealing with dirty or stained carpets. Also, when one tenant moves out and another moves in, the new tenant will sometimes want a new carpet installed before they sign a rental agreement. No tenant wants to live in a place with old, worn-out carpeting.
For most rooms, wood laminate flooring is a great choice. It has the look of hardwood flooring and is much less expensive. Tile is a great choice for kitchens and bathrooms.
One of the most important aspects of any rental renovation is the bathroom. Renters want appealing bathrooms that are functional and attractive. A terrific way to spruce up any bathroom is by adding a new vanity. Tenants spend a good deal of time at the vanity as they are washing or shaving or just getting themselves ready to leave the house. Installing a new vanity is a modest investment that will pay big dividends down the road.
To learn more about improving your rental property, contact renovation companies like Lehman Construction Services Inc.