It’s difficult to stand out in a competitive market. Some landlords invest in expensive upgrades to attract attention, while this is a great way to stand out, there are methods you can use to stand out without breaking the bank.
Below are four affordable changes to make your property stand out against the competition.
a new coat of paint is an easy and cost-effective way to refresh your rental property, it’ll make your rental look cleaner, more modern, and more inviting. Although white has been the color of choice for landlords for years, opting for modern and more stylish colors can help make your rental property stand out and appeal to a wider range of prospective tenants.
Some modern paint colors to consider include warm neutrals like cream or off-white, which help to create a cozy yet sophisticated environment. These colors work well in living rooms and bedrooms. Alternatively light shades of gray offer a modern and elegant look without looking bland, soft grays also work great at complimenting a variety of decor styles. If you want to add character to your rental without overwhelming the space use earthy tones like sage green or dusty blue.
For added depth, consider painting a single accent wall in a deep rich color like navy, charcoal gray, or forest green. This helps to create visual interest without being overbearing. Choosing modern colors helps landlords advertise their properties as fresh, and up to date.
Typically doing electrical work on your rental can be considered expensive however, simply updating your lighting fixtures is a cost-effective way to have your rental stand out. Instead of waiting until major work needs to be done in the rental, consider updating your lighting fixtures to modern, LED fixtures. Not only can you find a wide variety of fixtures to match your rental, you can make your property stand out with excellent lighting.
Other than aesthetics, modern lighting fixtures improve energy efficiency, while replacing outdated fixtures with modern ones. Additionally, LED fixtures generally provide better illumination than fluorescent or incandescent lighting fixtures. They also last much longer than traditional bulbs which can benefit your bottom line over time. Upgrading your rental’s lighting fixtures is ultimately beneficial for both you and your tenant. Consider flush-mounted ceiling lights to help make rooms feel more spacious. At the very least, old incandescent and fluorescent bulbs should be replaced with new LED bulbs.
A smart thermostat is another low-cost upgrade to help your rental property stand out. They are also mutually beneficial for you and your tenant. These devices allow your tenants to manage and control the temperatures through an app. This makes it easier to maintain a comfortable home while conserving energy. This feature is especially attractive to prospective tenants looking to reduce their carbon footprint.
For landlords, a
smart thermostat can help to improve the lifespan of your HVAC system. This also helps reduce the cost of energy for landlords when the rental is dealing with
vacancy.
By strategically installing mirrors in smaller rooms or narrow hallways, you can make a room feel bigger than it is. This is because a well-positioned mirror can create the illusion of depth. For a better effect consider making an entire wall a mirror, such as a small room with sliding closet doors. If you are looking to use this strategy, you should opt for a mirror with a small or thin frame. While not adding any physical space to the rental, it can leave an impact on prospective tenants.
Making your rental property stand out in a competitive market can be difficult, though not necessarily expensive. Consider combining some of the strategies above for better results. Or if you need help managing Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our
Owner Application online.
