As more baby boomers trade in the maintenance of their house for an all-in-one easy packaged apartment, and as more young professionals fall out of the affordable reach for buying property, rentals and apartments are becoming more favourable than ever. But with that popularity also comes more potential competition. If you’re a landlord, an increase of competition means you’ve got to keep your rental property in tiptop shape. Sure, there are the run-of-the-mill obvious things, like making sure everything works properly, but sometimes you’ve got to look with a fresh set of eyes at the finer details. After all, it’s often these details that can make or break how easily you can get tenants at your desired rental rate.
Here are three exterior maintenance tasks that are important if you want to beat out that competition and get the tenants rolling in.
The first impressions of your property are crucial. And that’s why you need to start at the front of your property before even stepping inside. Your landscape – whether it’s a simple lawn, paved interlock, or garden – is what prospective tenants see first, and therefore, judge first. So depending on the state of it, they’ve already developed either a positive or negative impression before entering the apartment.
So no matter what you have in the front of your home, keep it clean, trimmed, pruned, weeded and shovelled. If it’s a concrete slab, try adding some potted flowers near your entranceway and stairs to give a touch of aesthetic appeal.
For the exterior of your property, porch and front door – if you have peeling paint, or dirt and grim lingering on them, get yourself a good power hose or a few cans of paint. Giving the exterior of your property a thorough wash, or even a few coats of fresh paint to your porch and front door can work absolute wonders for revamping the exterior of your property.
If there’s one thing you can do to remove an almost guaranteed negative first impression, it’s removing any garbage bins that are located in the front of your property. Sure, they may be oversized and awkward to really fit anywhere else, but try to keep them to the side and out of view, at least during showings. You may even consider constructing an inexpensive enclosure so that you can keep them hidden. Garbage bins are never an item you want to have laying around for any prospective tenants to get a waft of.
Competition can be fierce for many landlords looking to keep their properties occupied. First impressions are vital for tenants, so follow these tips to get the exterior of your property in tiptop shape to ensure that the first impression is a great one.
If you prefer the hands-off approach, Medallion Capital Group can handle it all. As a leading Toronto property management company, we take care of maintenance and other essential tasks to help attract desirable tenants.