Owning a rental property continues to be an excellent investment in 2024-2025 but the truth is if the property is not appealing, you may find yourself renting to tenants who don’t stay longer than one year.
Thankfully, there are a wide variety of things that any owner can do to make their property more appealing and generate consistent ROI from their renters.
In this article we will offer you several tips that will help you attract quality tenants, reduce vacancy time, and potentially allow for a higher rent.
Fresh Paint Goes a Long Way
One of the most cost-effective ways to spruce up a rental property is with fresh paint. Neutral colors, such as soft grays, whites, or beiges, make spaces look clean, spacious, and easy to personalize. A fresh coat of paint on walls, doors, and even cabinets can give the property a modern and well-kept look. Stick with neutral colors that appeal to a wide range of renters and help them envision making the space their own.
Update Lighting Fixtures
Outdated lighting fixtures can make a space feel old and unattractive. Swapping out old fixtures for modern, energy-efficient options is a simple and relatively affordable way to instantly improve the look of a room. For instance, pendant lights in the kitchen or track lighting in the living room can add a modern touch. Also, add task lighting where possible, such as under-cabinet lighting in kitchens, to add functionality and ambiance.
Improve Curb Appeal
First impressions matter, so the exterior of your rental property should be just as inviting as the interior. Simple landscaping can make a big difference: trim overgrown bushes, remove weeds, and add fresh mulch. Planting low-maintenance flowers or shrubs can bring color and warmth to the property.
Add or Upgrade Basic Appliances
Energy-efficient appliances not only save renters on utility bills, but they also indicate that you, as a landlord, value quality and upkeep. In units without a washer and dryer, consider adding them if there’s space, as many tenants appreciate in-unit laundry.
Enhance Storage Options
Simple additions like closet organizers, extra shelving in closets, or hooks in entryways and bathrooms can make a huge difference. Built-in storage is an attractive feature because it saves tenants from needing to bring or buy additional furniture. Adding inexpensive organizers and shelving to closets and pantries will help make the space more functional and spacious.
Keep the Property Clean and Smelling Fresh
Make sure the property is spotless before showing it. A deep clean, including carpets, windows, and air vents, can make the entire place feel newer and fresher. Consider using a subtle, fresh-smelling air freshener to create a welcoming atmosphere, but avoid strong scents that might turn off potential renters.
Upgrade Flooring Where Possible
For a low-maintenance Portland solution, consider replacing carpets with vinyl or laminate flooring. These options are durable, easy to clean, and often more attractive to renters, especially those with pets or allergies. If new flooring is outside the budget, having carpets professionally cleaned can still make a big difference.
Add Small Touches
Lastly, small touches like modern cabinet handles, faucet upgrades, or a stylish backsplash in the kitchen can make a space feel more updated. These minor updates are generally affordable but can impact a renter’s perception of the space.
Focusing on these cost-effective improvements can significantly enhance a rental property’s appeal, making it more attractive to renters and helping reduce vacancy period
Ready to end the hassle of DIY property management? We can help! Learn more about our Beaverton Oregon property management services by calling us at (503) 646-9664 or click here to connect with us online.
