What’s the number one thing most quality tenants look for in a rental property? Lifestyle benefits. To stand out from the competition, your investment property needs to showcase these benefits immediately on inspection. As tenants don’t have the capacity to change aspects of the property significantly, they’re looking for all the little details that make it an enjoyable place to live in, as is.
Let’s take a look at what you can do to ensure your property is among the most desirable.
You can’t go wrong with neutral colours
Furnished or unfurnished, your property needs to appeal to a wide range of personal tastes, so it’s usually best to steer clear of your own. It’s obviously impossible to please everyone, therefore, using a neutral colour palette is the way to go. From the walls to floors and furniture, choose whites, beige or light greys. Basically, pick backdrop colours that go with most other colours. That way, when tenants view the property it’s easy to see that their own items will match the space.
Upgrade to modern, neutral bathroom fixtures.
Kitchens and bathrooms make or break the deal
We all spend a great deal of time in the bathroom and the kitchen, so these rooms are often the most important for tenants. If it’s in your budget to renovate, make them your top priority. When that’s not possible, make small changes to improve practicality and appearance. Update tap fixtures, towel racks, shower screens and cupboard door knobs. A few stylish trimmings can make all the difference, like a framed mirror in the bathroom or matching, stainless steel appliances in the kitchen.
Bad lighting can undo the best styling efforts in a home.
Bad lighting can undo the best styling efforts in a home. Natural light is the most important, so make the most of yours with neutral-coloured window coverings that allow the option for both privacy and maximum sunlight. Get rid of outdated light fixtures and upgrade to energy efficient light bulbs. Ensure that hallways, exits, bathrooms and kitchens are sufficiently lit for safety.
Style outdoor areas to highlight lifestyle benefits.
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Make the most of outdoor space
Regardless of whether your property has a balcony or large yards, curb appeal and outdoor entertainment areas attract tenants. First impressions count, so make sure the exterior of your property sells itself with tidy lawns, well-maintained fences, fresh paint, clean driveways and anything else that invites prospective tenants inside. Styling outdoor areas helps tenants envision themselves living there. Use outdoor furniture, gardens, courtyards and paved areas to highlight potential entertainment spaces.
When you’re styling your investment property, look at it through the eyes of quality tenants. They’re looking for a home that’s practical and in excellent working order, a neutral backdrop to make their own and inviting spaces that showcase lifestyle benefits.
This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879.