Renting out an apartment, house, or condominium could be very profitable. More than ever before, people are renting instead of purchasing. However, before renting out any living space, it’s essential, as a landlord, to make sure the apartment, house, or condo is prepared and special for the new tenant(s).
Taking the Extra Steps
Some landlords might be wondering, is it worth taking the extra steps to wow a future tenant? The truth is, through taking the extra steps today, it will start the landlord-tenant relationship on the right foot, making life much easier down the road. Reason being, if a tenant feels as if a landlord is genuine, honest, and caring, they will be more likely to care for the rental property, preventing potential discord. With that being said, here are 4 proven ways that a landlord can wow a tenant and ensure their rental property is move-in ready.
The first way that any landlord can prepare their property for a tenant is through performing a full-scale inspection. This is an opportunity to fix any and all minor and major problems, which will make life much easier in the future. We highly suggest taking note of a few specific areas:
- Condition of the roof. Are there leaks?
- Clogged or damaged Gutters. Are the gutters hanging, sagging, or not working?
- Driveway cracks and bumps. Is your driveway appealing?
- Flooring. How does your flooring look? Do you need to replace specific areas or install a new carpet?
- Leaky pipes. Are there any plumbing issues?
- Electricity. Did you notice any electrical issues?
- Lights. Are all the light bulbs in the home new and environmentally friendly?
If there is one area that tenants can be extremely picky, it’s a dirty rental property. This is why it is extremely important to take the time to perform a thorough cleaning. This entails the following:
- Shampoo and condition carpets
- Treat all other flooring surfaces.
- Paint walls a neutral color.
- Kitchen and bathroom
- Appliances: Fridge, Stove, Microwave, Dryer, Washer
- Garage: sweep and paint if needed.
The goal is to make your living space appear new and unused for the new tenant. If you can place yourself in the shoes of the new tenant, what would you want the home, apartment, or condo to look like? By taking care of the property, you are showing the tenants that you care about the property.
You should always take steps towards ensuring the safety of anyone living in your living rental residence. One area that every tenant will be keen on is knowing how safe the property is. Make sure each room has their own designated smoke detector, each floor has its own fire extinguisher, and potentially an affordable security system that makes everyone feel at ease.
Another way that any landlord can impress a tenant and make move-in a special time is by giving the tenant a move-in gift. There is no better feeling for a tenant than to receive a welcome package from their landlord. In fact, if you want to create a stable and professional relationship with your tenants, this is a great way to do it.
Now, we are not talking about anything expensive but merely a small welcome package. We suggest primarily leaving a personalized welcome letter alongside some of the following:
- A bottle of wine or champagne.
- Scented Candles.
- Freshly cut flowers.
- A gift card to a local coffee shop.
- A case of water.
- A tool kit.
- A month supply of cleaning supplies.
These are mere examples. However, some landlords chose to get creative. Perhaps you could create custom designed products such as cups or glasses for your tenants, which are all relatively inexpensive, given the return on investment.
Reputation and return on investment
Some landlords look upon the idea of preparing a rental property for a tenant as a hassle. Instead, you should look at these steps from the perspective of a return on investment. Through investing a few dollars per tenant to send them a beautiful welcome package, cleaning the property, caring for the utilities and safety, and performing a full-scale inspection, you are investing in a long-time and positive relationship with your tenant.
On top of this, also think about these steps from the perspective of reputation. Through caring for each of your tenants and the rental property, reviews and word will spread about how great the landlords or community are. In other words, it could increase the value of your property and the interest of the surrounding communities.
Profits, Profits, Profits!
At the end of the day, the goal of every single business is to drive a profit while leaving a sense of community. Through wowing your tenants and preparing the rental property for move-in, you are directly investing in the future of your community or property. To drive the profits you desire, you must take the steps towards investing in your future tenants. Make their welcoming special and they will make your rental property special as well.