TIP OF THE MONTH - July 2014
Getting the Property to Rent Itself
Source: Property Management for Dummies
Robert Griswold-Wiley Publishing, Inc.
advertisement for your rental unit is the curb appeal or exterior
appearance of the property. The curb appeal is the impression
created when the building is first seen from the street. The
importance of a good first impression is well documented in business
and clearly applies in rental housing as well. Properties that
have well kept grounds with green grass, trimmed shrubs, beautiful
flowers, and fresh paint are much more appealing to your rental
prospects than a property that looks as though it has seen better days.
Curb appeal can be positive or
negative. Positive curb appeal can be generated by having
litter-free grounds, well-manicured landscaping and lawns, building
surfaces that are well-maintained, a clearly identifiable address and
clean windows. All property amenities (such as the swimming pool
and parking lots) should also be clean and well maintained.
Properties with negative curb appeal can be
rented, but finding a tenant often takes much longer. You may
have fewer qualified prospects to choose from or you may have to lower
the rent. Because time is money in the rental housing business,
the lost revenue caused by poor or negative curb appeal is often much
greater that the cost to repair or replace the deficient items.
Besides, a well-maintained and sharp-looking property often attracts
the type of tenant who will treat your rental property with care and
respect and pay a higher rent.
This web page was updated on 07/01/2014.