House affordability continues to be an issue in Australia, forcing many people into rentvesting. This is when people rent their dream home while they either purchase in another area or save to purchase a place eventually.
For those who are seeking to make some roots in a particular location, making your property a dream will help you attract good quality tenants.
Here are the 6 helpful tips to make your rental property a dream home for potential tenants:
- Spending, even a little, on your investment property is beneficial in the long run
Some landlords’ reluctance to spend money on their property may cause long vacancies between tenants. A little spending on some quality features will be a great help not only in attracting the right tenants but making your property standout among all the other properties.
- Purchase top-quality appliances
Although quality appliances will be more expensive, the useful life of these items tend to be longer. Spending right the first time will pay off in the long run and good quality appliances will definitely appeal to quality tenants.
- Choose minimal and classic
It’s so enticing to purchase fancy and modern fixtures, fitting and appliances. However, you might be wasting your money if these items go out of style in a year. Pick minimal and classic styles for downlights, ceiling fans, and other fixtures.
- Stick with easy-care and simple
In line with the classic and minimal style, ensure your property is an easy-care, fresh and clear blank canvas for future tenants to create their own. Don’t be tempted to excessively design or furnish your home, unless it’s right for the space.
- Climate control is essential
You’re probably not concerned whether your property has property heating and cooling if you’re not living in it. But this can be a turnoff for prospective tenants. Make sure you install heating and cooling, where you can. A split-system air conditioner in the living room, and the bedrooms, if you can afford it, will help in providing comfort and ensure your property attracts good tenants.
- Prepare your property for inspection
Similar to purchasing a home, prospective tenants want to see a property and be wowed by it and imagine themselves living in it. If you currently have a tenant and they are not exactly tidy, you could ask if you can have a cleaner come in the home for a day or two before inspection day.
Getting quality tenants is not easy sometimes, but with some smart spending on your property and thinking about how to improve your property in the eyes of prospective tenants, the chances are high of your property standing out among other competitors.