Property Management Blog
Most homeowners know that repairing and updating a home is necessary before putting it on the rental market.
Why? Fresh, clean spaces have visual appeal and can bring in more income.
Here are six must-do updates to apply when you want to receive the best rental price for your property.
- Replace carpets. Carpet typically has a shelf life of seven years in the rental market. Putting new carpet into place can brighten a home and get rid of the musty smell. It’s also an enticing way to get a potential tenant’s attention when listing the home. Who doesn’t want to rent a place with fresh carpet instead of used carpet?
- Update light fixtures. Chandeliers and overhead fixtures from another era can turn people off and replacing them is a simple update. Ask your lighting showroom representative to help you select fixtures more in line with today’s rental market. Consider changing fixtures in the bathroom, kitchen, dining room, and entry for a complete look.
- Add smoke detectors and fire extinguishers. Most states require landlords to provide these, and they provide a clear indication that you care about the safety of the tenant.
- Replace appliances. Again, old or used items aren’t visually enticing and can turn off renters. Opt for a warranty for added insurance against appliance failure.
- Add mini-blinds to all windows. This helps tenants with safety and security issues and adds a clean, finished look to the home. Tenants who damage blinds can be charged to replace them at move out as long as that’s listed in the lease.
- Paint inside and out. It's the most cost-effective way to improve the look of any rental home.
Are there exceptions to these rules? Maybe.
Vintage style homes are appealing to a certain type of renter and maintaining that charm can be important, so you might be able to skip the light fixture updates. However, don’t keep fixtures and appliances that are broken or dangerous to use or you could be liable for accidents and physical harm that the tenant experiences by using them. You’ll still need to paint, maintain floors and window coverings, and add safety items such as smoke detectors and extinguishers.
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