It is never ideal to leave your rental property vacant for a long period of time. Getting and keeping renters is an important skill to be mastered, especially if you are looking for quality tenants that will stay for the long run.
Rental properties should be attractive, functional, and comfortable for them to appeal to prospective tenants. At the same time, it should also be a blank canvas for tenants to make it into their own “home sweet home”.
It is best to keep your rental property minimalistic. Do not renovate it as you would your own home. No doubt, it is essential to upgrade the property to meet modern standards, however, keep it neutral. There is also no need to invest too much money since your tenants are not likely to care and maintain your property the way you would.
Making your property tenant-ready as quickly possible with a competitive rental demand is a skill successful landlords master over time. Here are some quick tips I’ve observed and experienced that may be helpful to you.
How To Make Your Property More Comfortable For Tenants?
1. Analyse surrounding neighbourhood before furnishing
Yes, most investors tend to furnish their property with just the basic essentials which do not specifically cater to a certain group of tenants. No doubt. this helps in striking a good balance whereby they are able to reach a wider market. However, rental properties furnished to cater to the target groups of tenants usually have longer-lasting leases.
Knowing the tenant demographic and available facilities surrounding your rental property is essential in helping you to determine your target customers. This enables you to create a practical and comfortable environment for your potential tenants.
In my years of experience, it is always advisable for investors to be certain of the type of tenants they want to bring into their rental property. By doing so, you will have a better idea of the extent of furnishing such as whether to go with a partially or fully furnished unit. It also helps in setting a budget for your upgrading works.
Besides, “one size need not fit all”. Different tenant groups will prioritize different factors of a rental property. Thus, if there is a specific group of tenants that you are hoping to attract, then it is best to furnish your rental property in a manner that caters to them.
For instance, your property is located in a middle-end residential area near schools or even a university. This most likely means that your potential tenants might be a young family or students. If so, an open space layout with moderately priced furniture will be suitable. Contrarily, if your rental property is located in a high-end residential area, then you might want to opt for furnishings that are more luxurious.
2. Know what amenities your tenant wants
It is important to not only know who your target tenants are but also know what your target tenants are looking for in a rental property. The best way to do this is to put yourself in their shoes when it comes to home hunting.
In today’s market where it is predominantly the Gen-Zs and Millenials, the more important trigger in choosing a rental space is the quality of lifestyle. Beyond just wanting a roof over their head, the amenities and conveniences you offer with your property are often emphasized.
For instance, high-speed internet, open floor plans, updated appliances, and so on. Remember, property investment is a competitive business, if the tenants do not like what they see, then they will just move on to the next rental place.
Stay updated and try to promote a more tailored atmosphere in your property. Consider offering features that your target group of tenants cares about most so that you are able to attract long-term renters. Sometimes, these additional features may even act as an incentive for your tenants to renew their lease.
Take, for example, you are aiming for renters that are students. Hence, installing soundproof windows for a quiet environment, secure bike racks, built-in cabinets for more storage, or even simple things like heavy-duty appliances and furniture are a strategic investment. Oftentimes, paying a little attention to the needs of your renters may go a long way.
However, it is important to know when to stop with the investment.
3. Deep clean your property
Nothing turns off a potential renter more than a dirty property. A clean and tidy place usually leaves a good impression on potential tenants and it invites them to be comfortable with the space. This helps them visualize living in your property which is crucial in making your place desirable.
Generally, most landlords would prefer to perform the cleaning works themselves. However, if you have the means, then I would recommend hiring a team of professional cleaners instead. They are more thorough and have the proper equipment to reach challenging parts of the house. They are also more experienced in using the right cleaning agents such as for removing all those stubborn stains and grease from kitchen appliances.
A simple checklist for areas to clean are as follows:
- Bathroom: shower, bathtub, toilet bowl, sink, faucets, mirror, storage cabinet
- Kitchen: storage cabinet, drawers, counter tops, electrical appliances (including the inside)
- Common areas: walls, ceilings, moldings, floors, windows, laundry area, closets, curtains, furniture, ceiling and wall fans
Moreover, tenants are also more appreciative when they are able to move into a rental that is already well cleaned. They tend to be more willing to repay this gesture of the landlord by maintaining the place, keeping it neat and tidy.
As the saying goes, treat others the way you want to be treated.
4. Conduct repairing and maintenance work
The best time to inspect and repair major problems is before you have renters moving into your property. Be proactive in addressing potential areas such as clogged rainwater downpipes, cracked tiles, leaky faucets, burn-out light bulbs, etc.
It is wise to personally walkthrough or even stay at your own rental property for a few days to test the functionality and practicality of your appliances, furniture, building accessories, as well as to check whether any maintenance work is required. Oftentimes, it is hard to detect minor repairing works such as a squeaky door or faulty doorknob unless you have lived in that house and frequently use the door.
Inspecting and servicing major appliances such as the refrigerator, air-conditioner, washing machine, and oven will also greatly help in extending their lifespan. This is because you have no control over how your renters use the fixtures and appliances. They might even “forget” to clean the air-con filters. Hence, having a professional to regularly service your appliances is a good way to keep them in check.
Also, get a plumber to inspect your pipes. Do not underestimate the damage a small leak can cause. Water has the nature of seeping into every small nook and cranny it can find. When that happens, you might have no choice but to cough up a huge sum in order to repair the damages. For instance, water stains, mould infestation, rotten plaster ceiling, etc.
Sometimes, being penny-wise does not make you dollar-wise.
5. Evaluate your appliances and furnishings
Renting out a furnished home is not only about placing appliances and furniture into it. It is also about ensuring that the appliances and furnishings are in good working condition, practical yet modern.
Although a rental property does not belong to the tenants, nonetheless, it should feel like a home to them. They should be looking forward to going home every day. Do not treat your tenants as garbage collectors whereby you provide them with all the unwanted furnishings from your home.
If you insist on doing so, at least make sure the appliances and furniture are presentable, usable, and are still in good condition. If not, spend a little money to buy new furnishings that are within your budget. After all, these expenditures are tax-deductible against your rental income.
Let me tell you a story. I have once rented a unit and kid you not, the only thing I look forward to during the tenancy, is the termination of the contract. During the viewing, despite the furnishings looking outdated, the place still eludes a pleasant vibe.
However, only when I moved in, I came to realise that the furniture are practically unusable. I could not even relax on the couch after a long day of work as it is too fragile to even withstand a bag of rice. Furthermore, the landlord was uncooperative and unwilling to listen to my complaints to change out the furnishings.
Once the contract is up, off I go and happily I went. In short, it was a very unpleasant rental experience.
Also, try not to have too much furniture and appliances in the rental property. As much as it is an asset, this furnishing can quickly become a liability once it breaks down and gets worn out.
6. Conduct property upgrades
The exterior of your property matters just as much as the interior. Update the curb appeal as it is the first thing people will notice. If your rental property comes with a lawn, make sure the landscape is presentable, pleasant yet low-maintenance, and inexpensive. This is so that it does not require much attention and care from both you and your tenant.
Besides, there is no need to spend big bucks to fully renovate your property so that it is tenant-ready. There are various simple upgrading tricks that can be done to your rental property without breaking the bank. For example, giving the rooms or even the furniture a fresh coat of paint can make a whole lot of difference. It is easy and affordable, the only challenge is just to choose the right colour. My recommendation is to go for soft tones such as off-white, blues, greens, violets, etc. as they are a good option to make your room feel inviting.
Another trick is to change out old lighting fixtures with modern light casings such as downlights. The same goes for your tapware and cabinet handles. Sometimes, putting attention on the small details can bring about transformations that will instantly improve the overall look of the space and its perceived value.
With that said, try to steer away from shoddy Do-It-Yourself (DIY) projects if you are not a handy person. This is because the DIY works might end up becoming a burden for the tenants if it is not properly built and/or installed.
Honestly, in my experience of renting spaces, almost all the DIY projects are pretty bad and it never lasts long.
7. Be a landlord that responds to tenant’s requests and complaints.
Essentially, there is no exact formula to creating a homely space for your tenant. Nevertheless, the attitude of landlords plays a major role in making the tenant feel comfortable and happy being in your rental property.
Establishing a good understanding and being reachable by the tenants is vital. When you effectively address the issues raised by the tenants, it not only satisfies your tenants’ request but also protects you from any possible lawsuits and ensures your property’s condition in the long run.
It is also good to follow up with the renters after arranging the repairs. Let them know when a complaint has been resolved or closed out. If it is unable to be resolved immediately, be sure to inform the tenants that you are doing your best to have it settled and update them on the progress.
Remember, communication is key to building trust. When there is trust, your tenants will then feel more assured to continue the lease with you.
Final Words
In general, the whole point in setting a comfortable environment for your renters is so that they will have an enjoyable experience and possibly extend their lease. Therefore, for that to happen, landlords need to learn to put themselves in the shoes of the tenants. Understand your target customers, and your business shall thrive.
Until then, stay safe peeps.
