OWNER LOGIN     TENANT LOGIN        
× Search

 

 

 

Property Management Blog

 
     

3 Tips To Help Make Your Rental Property More Attractive

Jun 06 2015

 

Tip #1 - Improve The Curb Appeal

When people drive by a “nice” house, what are a few of the first things that you think they will notice? Probably the flowers and trees (or lack of), how high the grass is, and how clean the driveway and sidewalks are. Also, imagine if they were looking for a new apartment. Do you think they would rather live in a complex without any landscaping, or do you think they would rather live in one surrounded by green grass with the occasional flower bed and bushes? Chances are that they would probably knock on the door of the home or apartment manager’s office that choose to maintain the overall look and curb appeal of their property.

There is no denying that if you make your property look good by keeping it clean and landscaped—you will attract more tenants.

Tip #2 – “Stage” The Unit Or Home

You do not have to be an interior designer to stage a unit or home (although it certainly helps). Taking the time to stage the unit or home will make them more inviting, as well as give the potential tenant a better idea of what he or she can or cannot fit in each room or unit.

It is important to remember that when staging a home or room that you should remove any bulky or extra furniture because it might “feel” overcrowded. Also, if there is a current tenant, you should get permission to remove any photos, papers, or toys, etc. so that the potential tenant can imagine what their belongins would look like there instead.

Tip #3 - Maximize The Unit's Or Home's Lighting

Aside from increasing curb appeal and staging the home, one way to make it look more attractive includes maximizing the unit’s or home’s lighting. You can do this whether it is a gloomy or bright day. Before you show the unit or property, walk around to ensure that all of the blinds are open, or the lights are on. Making use of the lighting will enhance surfaces, rooms, or other areas of the home or unit that would otherwise look smaller without the light to illuminate them.

There are many ways to make your property look enticing. If you are interested in hearing more tips, or would like to get in touch with us to hear how we can help you find tenants, please reach out to us. We will be happy to help!

Blog Archives

Blog Categories

Blog List

Apartment Management
 Web Master
 9  56  12/20/2016
Association Management
 Web Master
 4  10  2/23/2010
Commercial Property
 Web Master
 3  6  8/15/2014
Home Improvement
 Web Master
 3  0  3/11/2010
Homewatch Services
 Web Master
 3  6  5/25/2009
Onyx Management news.
 Web Master
 20  55  7/8/2017
Landlord KnowledgeBase
 Web Master
 24  42  5/18/2017
Property Maintenance
 Web Master
 13  43  3/20/2017
Property Management
 Web Master
 38  29  6/24/2017
Property Management
 Web Master
 29  37  4/22/2017
Real Estate Investment
 Web Master
 28  61  6/10/2017
Rental Property
 Web Master
 50  130  8/27/2017
Tenant Relations
 Web Master
 35  122  9/3/2017

Tag Cloud

Landlord Knowledge Base

If you’ve ever considered investing in a few rental properties in Philadelphia or Bucks County, PA now might be a good time. Prices are still low in Philadelphia, but have been on the upswing. According to the National Association of Realtors, the median price of an existing home in a US metropolitan area grew 13.7% between July 2012 and July 2013, the latest in a 17-month streak of year-over-year price increases. 

New landlords can choose from properties that are likely to appreciate and a large pool of potential renters.Licensed realtor Pat Mueller cites a few reasons for this trend: “Many families have lost their homes to foreclosure and are entering the rentals market for the first time in years. Mortgages are also harder to get now, so fewer people are qualifying for a new one.”The more skills you bring to the table to get into Houses for Rent in Philadelphia Philadelphia or Bucks County, PA and the more time you have to devote to your properties, the faster you can make a return on your investment. 

But investing in rentals can also be disastrous (or too stressful to be worthwhile) without expertise. Here are three professionals you may consult about your new rental properties, and what you can do to mitigate how much they cost you:Handyman:  You may need to hire a specialist for some work on your rental. If you need new outlets or new pipes, for example, hire an electrician, plumber or licensed contractor. Handymen usually tackle smaller, more manageable tasks, like:

  • Painting and paint removal
  • Drywall repair
  • Minor appliance repairs (fixing a leaky toilet or faucet, among others)
  • Installing tiling or flooring, moldings, windows, doors
  • Refinishing decks, cabinets and other wood items

When You Could Skip It: You could do any (or all) of these projects yourself if you have the time and interest in learning. Of course, this only works if you live relatively close to your rentals and are flexible enough to service them on short notice. And if you’re willing to respond to the occasional 5 AM basement flooding.

Average Savings: Any base rates or costs-per-hour vary from location to location in Philadelphia or Bucks County, PA , but nationally, you can expect to spend an average of $60 to $85 per hour for repair costs. It general costs less to hire an individual handyman than a handyman employed by a company. Expect an additional charge if your job requires a trip to the store for materials.

Resident Property Manager As the owner of a handful of rental properties, you may be able to manage them yourself, but if you want help, a single resident manager would probably be more cost efficient than a property management company. Resident managers may:

  • Serve as a handyman
  • Advertise vacancies in your units
  • Show apartments to prospective tenants
  • Review rental applications
  • Collect rents

When You Could Skip It: Again, the closer you live to your properties and the more spare time you have, the less likely you are to need a manager. The obligations of being a boss will also cut into the time you save on maintenance.

Average Savings: The national median wage for residential managers is just over $25 per hour. Research the wages in your community and adjust according to how much responsibility your manager will take on. 

Real Estate Agent: Once you’ve gotten your financials in order and done your own research on the neighborhood(s) you’re considering, you might contact a realtor to show you potential properties. You can also arrange for a realtor in Philadelphia or Bucks County, PA to show rentals once they’re ready to rent.

When You Could Skip It: It depends. Even if you’re a local, or have thoroughly researched the neighborhood(s) you’re considering, a realtor is a great resource for a first-time rental buyer. Realtors have access to data and statistics not necessarily available to the general public and first-time buyers may not know all the right questions to ask. Using a realtor to fill your Houses for Rent vacancies is less of a no-brainer, depending on your other time commitments or whether you plan to hire a resident manager who could do the same thing.

Average Savings: As a buyer of rental properties, as when buying your own home, sellers typically pay most, if not all, of the buyer’s realtor fees. In this case, Mueller points out there’s little reason not to work with a realtor. For help in filling your units in Philadelphia or Bucks County, PA, the services of a realtor would set you back between 10-20% of the unit’s rent per month.  Mueller recommends interviewing with several brokers before making your final decision to invest into Houses for Rent .

The Bottom Line: As a new landlord, you can’t necessarily control the flexibility of your schedule or the amount (and cost) of unexpected repairs to your properties. Rentals are a long-term investment. However, to maximize profits from your Houses for Rent, new rentals, you can buy close to home and start small. It is best to begin with just one or two properties. This will allow you to maximize the time you spend on your properties’ needs, and minimize the amount you’ll have to pay anyone else.

Terms Of Use Privacy Statement Copyright 2006-2017 by Onyx Management Group, Inc.