Los Angeles has a booming rental market. But with so many renters, property owners are constantly fighting to get the attention of renters, boasting of the best amenities and generous incentives to sign a lease. Here are some tried and true tips to help your rental property stand out from the crowd:
Remedy Any Quirks
Does the air conditioner make a loud noise every time it kicks on? Do you have a few creaky stairs? Are there occasional leaks when it rains? Assess any quirks of property and make a plan to fix them right away. By fixing these issues before listing your rental property, you won’t have to deal with a complaining tenant down the road.
Install an Alarm
According to the latest statistics from the Los Angeles Police Department (LAPD), burglary was the third leading crime in LA in 2010, with more than 17,191 incidents of burglary reported. No matter how safe you think your neighborhood is, these numbers clearly show theft is a problem all over Los Angeles County. Show potential renters that you value safety and install an LA home security system in your rental property. You can find a budget-friendly DIY system online and build the cost of monthly monitoring into the rental price.
Touch Up the Kitchen
Did your last renters leave the kitchen in shambles? Is the kitchen outdated and desperate for a makeover? As the heart of any home, the kitchen should never be overlooked. Give it a fresh coat of paint and tend to any areas that need special attention:
- Update scuffed, scratched cabinets with new cabinet faces.
- Replace old vinyl flooring with new tile or hardwood flooring.
- Swap old light fixtures for simple, traditional fixtures.
- Upgrade a leaky faucet with a new pull-out faucet.
- Replace old Formica countertops with new solid-surface countertops.
Add an Extra Bedroom
If you’ve been considering building an addition or converting a room to a bedroom, now is the time. Any square footage you can add will help boost the appeal of your rental property. According to a recent study conducted by the National Association of Realtors, you can raise the value of your home by more than 3.3 percent by adding 1,000 square feet. Anything you can add will help, especially in a city like LA where space is such a luxury.
Refresh Curb Appeal
The exterior of your rental property sets the tone for how potential renters feel about it when they come by for a tour, so make sure to make a positive first impression. Give the front door a fresh coat of paint and add a new doormat. Plant some colorful flowers in flower beds or planters and give the grass a little TLC to ensure it looks great.