As more competition comes into the rental market, it is
important for property owners to keep properties up to date and attract renters
into their units, raise rents and increase cash flow. Who are today’s tenants and what are they
looking for? When tenants were asked
what are the top three most important qualities you look for in deciding on a
rental unit they responded with:
- Location – 33%
- Unit Quality – 27%
- Price – 22%
Here are five tips to entice Renters:
- Update lighting, floors and appliances
- Stay proactive with constant communication
- Partner with local businesses
- Allow pets
Renter Turnoffs
- Bad Odors
- Carpets in bathroom
- Broken Appliances
- Dirty carpets
- Lack of storage
Upgrade Your Properties!
If you make one significant upgrade to your property, not only will it
be appreciated by your tenants but it will increase the value of your
properties and make them more attractive.
Here are some suggestions for upgrades:
- Doors and Windows
- Upgrade the Kitchen – Countertops, appliances, flooring
- Improve the Exterior – lighting, landscaping, siding/stucco
- Bathrooms – flooring, sinks, shower heads and faucets
Some of these suggestions can be costly and some are
minor. Choose what you can afford
because the right upgrades can make a difference when trying to market your
unit in a market where other owners have already done made these changes to
their units. Keeping tenants happy goes
a long way to increasing the value of your investment.
At M A P Property Management we offer full service property
management services along with complete remodeling for all your renovations and
upgrades. Call Laurie, (562) 945-3404, if you would like
more information.
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