When you decide to invest in an older rental property, there are bound to be some extensive updates you’ll need to do before your property is ready for tenants. These tasks will be even more extensive if you are investing in a duplex or apartment complex. According to the Law Depot blog, rental tenants highly value safety, cleanliness and amenities, so it can greatly benefit you to make your property more appealing. Make sure these updates are made before you are ready to rent.
The pool area is almost always one of the first amenities prospective tenants will want to check out. It is important to keep your pool area clean and properly maintained on a regular schedule. According to PoolCenter.com, you should check the water level, filters and chemical balances every day. The pool should be thoroughly cleaned once a week and other maintenance checks, chemical balances and pool checks should be done monthly. Keeping your pool up to date and ready for residents to enjoy will make your property more appealing.
Indoor and Outdoor Lighting
Updating the lighting around the property not only adds an appealing aesthetic, it also makes the grounds safer for residents. According to PersonalIncome.org, updating the lighting in and around a rental property is one of the best things you can do to attract tenants. Indoors, whether it’s a common area or the rental office, bright energy efficient bulbs will make the space seem bigger and gives the effect of natural light. They also last longer and can save money in the long run. Outside, replace the bulbs, trim back trees from lights and make sure all the fixtures are working. It’s also a good idea to set all outdoor lights on an automatic timer so they come on right as it is getting dark.
All property and home owners know the benefit of curb appeal, and apartment complexes are no different. As Landlordology.com points out, the first thing your prospective residents will see when they visit your complex is the landscaping and the grounds. No matter what your landscaping theme is, the most important thing is to make sure the property looks clean and cared for. Make sure the grass is mowed and any dead plants or trees are removed or replaced. Trim back anything that is overgrown. You don’t need to have huge beautiful trees or a majestic water feature to draw in tenants, but keeping your grounds clean and maintained will appeal to them.
Gates and Safety
Part of updating the property is considering your safety protocol. According to Property Management Insider, there are several things you can do to prevent crime in your complex that don’t even require physical additions. For example, having a stricter screening process for residents and partnering with police to utilize a crime watch program will show future tenants that you are serious about safety. Of course you will also have to make sure the property is secure. An important decision you’ll have to make is whether to gate your entire property and add other security features such as security cameras or hiring a night guard.
This feature may often get overlooked by property owners, but there are many benefits to making sure your apartment complex is accessible to disabled, elderly or anyone else who may need special assistance getting around. Many people struggle finding the right property to rent because apartment complexes don’t always offer handicapped-accessible options. Personal Real Estate Investor Magazine suggests making some small changes around the complex that can pay off in the long run. Install ramps and handrails outside and light switches and faucets around the property that are easy for older people to use. Keeping those who may need these features in mind when updating your property will make you more universally available and desirable for future tenants.