By Gene Thomas, image from Unsplash
3 Property Decisions to Take to Appeal to Prospective Renters
We all know how much design impacts buying decisions. In fact, a study by IPSOS reported that consumers are more likely to buy a product if it is well packaged and designed. Why not apply that same logic when it comes to property? When you’re an investment property owner or a potential buyer, there is a lot you can do to appeal to renters’ sensibilities. If you’re looking for easy decisions to get your property rented quickly, The Reasonable Realtor shares three tips below.
High-Value Home Upgrades
At the end of the day, upgrading your home is about increasing its value. The money you get for your property is directly proportional to its value, so it’s in your best interest to make those improvements! Following are some updates with high ROI that your buyers will love.
- Painting: A fresh coat of paint in neutral colors is an easy way to make your place look clean and updated.
- Landscaping: The outside of your home is your buyer’s first impression of your property. Be sure to remove dead and overgrown plants and ensure that there are thriving plants and flowers instead. The greener, the better!
- Flooring: According to Zillow, improving flooring is one update over 30% of homeowners make. This is an excellent way to bring new life to your place.
- Bathroom update: This one is on the pricier side but comes with a high payoff, as you’ll be able to bump up your asking price significantly with a modern bathroom.
- Lighting: Adding various lighting sources is an easy way to amp up your space. Bonus: add energy-efficient light fixtures to increase home value.
- Clean: This one is basic but essential – make sure your house is cleaned thoroughly, and everything is organized and put away in its place.
- Repairs: Lastly, ensure you’ve repaired all major appliances and replaced any worn-out or old items (roof, hardware, and cabinetry).
Invest in Marketing
Marketing is just as important as the quality of your property, if not more so. If you don’t take adequate measures to market your business, you won’t be able to reach potential buyers. Start by putting your listing up on online property websites. This guide by HomeLight breaks down the best websites to list your property on. Be sure to include lots of pictures (preferably staged and shot in good light) and all the other property particulars and details. Having a virtual viewing option is another excellent solution, as it piques buyers’ interest. Another excellent marketing tip is to have a sign outside your home announcing that it is for sale. If you’re planning to host open houses, be sure to include the dates and times. Don’t forget to create a website to further market your property too! Use an online infographic maker to create an eyecatching infographic for your site. Save expensive designer fees by using free templates to customize your site by adding your own text, colors, background, etc.
Managing the Property
Once you’ve got the ball rolling on marketing, it’s time to think about how you’ll manage the property post-sale. The two main options you have are managing the property yourself or hiring a property manager. One of the key benefits of hiring a property manager is that they’ll do everything for you – from screening possible tenants to maintaining the property. On the other hand, if you don’t mind a little DIY and effort, you could also manage the property yourself (this will save you money).
When putting your house up for sale, you want to maximize your chances of success. That means a quick sale, with few contingencies and easy buyers. The best way to ensure this is to tailor your property to the current consumer to stand the best possible chance of succeeding in the market. Time to get repairing and updating!
The Responsible Realtor is all about sharing tips and advice to help you buy and sell your house – while saving money. Click here to learn more today!
Don’s a broker and author at theReasonableRealtor.com — Follow him at twitter.com/@DonMartin711 — “SUCCESS CLUB” Newsletter or MEDIUM.
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