Renting Your Home Out? Here's How To Increase Interest Among Tenants

17 June 2016
 Categories: , Articles

Renting your home out as opposed to selling it provides an excellent opportunity to expand your investment portfolio as well as take advantage of various tax benefits throughout the year. But your profit margins and tax credits will vary depending on how quickly you can get your home rented out to suitable tenants. Here are a few things you can do to increase interest among potential tenants and therefore rent your home out quickly:

Update the Kitchen Appliances

Stainless steel appliances are an important feature that most tenants look for, so they can score your home lots of attention on the rental market. You can make appliances of any color look like they're stainless steel by giving them all a fresh coat of stainless steel epoxy appliance paint, so there is no need to go out and buy brand new appliances to impress potential renters. Either fix up the older appliances that are already installed in the house or buy used options and have them serviced before painting them, letting them dry, and installing them in the kitchen. It's a good idea to have a service technician, such as those at Automatic Appliance, perform an in-depth inspection and replace the essential components and parts of your used appliances to ensure optimal performance while your tenants are using them.

Add More Trees to the Landscape

Planting a few trees in the yard will increase curb appeal and improve the home's energy efficiency overall, which can save your tenants some money on their monthly electricity expenses. Landscaping with trees can also increase your property value by up to 20 percent, which can come in handy if you decide to sell the home or apply for a second mortgage at some point in the future.

Deciduous trees are an excellent option because they are full of large leaves during the summer, which will help to shade the home from the sun. Then during the winter months, deciduous trees tend to lose their leaves, so the sun can naturally warm the interior of the house up. Consider planting one or many Norway maple, white birch, bald cypress, weeping willow, or Okanese poplar. For efficient home shading, plant your trees near windows and entryways that get full sunlight during the day and in front of your exterior HVAC unit.

Have the Asphalt or Concrete Driveway Sealed

If your asphalt or concrete driveway is cracked, chipped, or looks warped, it may be beneficial to have it sealed. Seal coating your driveway will improve its current overall appearance and give your property a newer look that potential tenants are sure to make note of, while at the same time reduce the chance of cracking and water damage in the future. Once your driveway is sealed, water won't be able to seep through its pores and create bubbles or cracks as time goes on. And because liquid can't seep through the small pores of your driveway when it's sealed, it will be easier for tenants to clean oil spills and other substances from the driveway without staining or damaging it.

You may be able to complete this project on your own, but it is important to consult with a professional contractor before getting started. This will give you a chance to have your questions answered and to gain insight into what's exactly involved in the overall seal coating process. In the end, you may find that it's easier and safer to have the contractor take care of the job for you.

These update ideas shouldn't take long to implement and are sure to improve the overall appeal of your home, which potential tenants are sure to appreciate.