18 Oct 2022

What You Need To Know About Making Your Rental Stand Out

A recent report revealed that Brisbane has seen the highest annual increase in rental prices of all capital cities.

Rising rental costs, combined with a low vacancy rate and a lot of competition among renters, have created a positive environment for landlords.

It doesn’t matter if you own a rental house or an apartment complex. Now is the time to cash in and see incredible returns on your investment.

If you want to make the most of the current rental climate, consider making some improvements to your rental property. The more appealing it is to renters, the more you can charge.

Below, you’ll find some simple tips to make your rental stand out and attract more tenants.

Increase Street Appeal

Potential tenants start judging your rental property as soon as they pull up on the street or driveway. If your property looks old or run down, renters will automatically begin forming a negative view of it before they even set foot inside.

To start things on the right foot, increase your property’s street appeal. Here are some suggestions for how you can do this:

Mow the lawn
Trim the hedges
Pull weeds
Plant new flowers
Pressure clean porches, sidewalks, and driveways
Pressure clean the exterior walls
Clean the windows
Repair or repaint fences and railings
Repaint the front door

These changes don’t take a lot of time or effort. However, they can significantly improve your property’s appearance and make it more enticing to potential renters.

Thoroughly Clean The Property

Don’t stop at cleaning and freshening up the outside of your rental property. When you’ve finished your outdoor updates, move on to the interior.

Nobody wants to rent an apartment or house with floors that look like they’ve never been swept or bathroom tile that looks like it’s never been scrubbed.

Dedicate some time to deep cleaning your property before showing it to renters. If you don’t have room in your schedule for this, hire a professional cleaning team.

A sparkling clean property doesn’t just make a good impression on potential tenants. It also sets a high standard for when they move out and encourages them to keep the property clean and in good shape for the duration of their lease.

Focus On Its Strengths

When writing a listing for your rental property, focus on its strengths. Highlight its best characteristics to attract new renters and tell them what makes your property better than others on the market.

Consider hiring a virtual stylist to make your property more attractive. They’ll dress up your real estate photos to show off the home or apartment’s best features, from large windows that let in natural light to a large primary bedroom with an expansive en-suite bathroom.

Take Care Of Small Repairs

It’s easy to brush off minor repairs and updates like repainting the walls or updating light fixtures and assume they won’t make a difference to your renters. In reality, these improvements can help your property stand out from others on the market.

If your property is more attractive and modernised, you can attract more tenants and raise the rental price, allowing you to earn more money each month.

Invest In Professional Photography

Always hire a professional real estate photographer to take pictures of your property for its online listing.

You might have the most sophisticated smartphone on the market, but do you have the knowledge and experience to use its camera correctly? If you don’t have a photography background, leave the picture-taking to an expert.

Real estate photographers can capture pictures of the property in the best light and focus on its most appealing attributes. Posting quality photos online helps you attract better tenants and show them what your property offers.

Invest in Items Tenants Want

If you’re interested in making some upgrades to your property, focus on things that are most likely to impress your tenants.

For example, install an air con unit or ceiling fans to keep your tenants cool during the hottest seasons. For landlords of apartments, you could also consider investing in an in-unit laundry, too, for added convenience.

Give your tenants a private place to park as well. If they can park in a safer, more private location (like a garage), they can feel more secure (and might be willing to pay extra).

Hire an Expert Property Manager

Maintaining and managing a rental property can easily feel like a full-time job — especially in a competitive market with lots of people looking for houses and apartments to rent.

If you can’t keep up with the demand from potential tenants, consider hiring an expert property manager to do the heavy lifting for you.

A property manager can assist with various leasing processes, including the following:

Cleaning and maintaining the property
Advertising the property
Showing the property to potential tenants
Conducting background checks
Collecting rent and deposits
Dispatching repair and cleaning professionals
Resolving tenant issues
Handling late payments and evictions

The best property management company does the heavy lifting for you and frees you up to handle other things — including enjoying the returns on your rental property investment.

Make Your Rental Stand Out Today

Are you ready to make some upgrades to your rental property? Do you want to take advantage of the current landlord’s market and set yourself up for maximum returns?

If you’re unsure of the proper way to improve and manage your rentals, or if you just don’t have time to handle updates on your own, working with a property manager can help.