Inexpensive hacks to increase a rentals value?

Question

What are some of your favorite inexpensive hacks to make your rental seem more luxurious or homey to potential new tenants?

For instance, do you install window baskets with flowers, add a cool shed, patio furniture, light candles or bake cookies when showing?

Curt Smith · Answer

I see your in Dallas,  go to other same style/ price range rental showings...

BUT assuming you are offering a blue collar rental, 1200-1400/mo rent, asuming this is blue collar in Dallas, they just want clean, safe and functional.   IE AC is recent and will work and cool during the hotest months.

During my rehab I paint the dark colored stained kitchen and bath cabinets with semi gloss paint with new nickel hardward.  I use Home Depot Behre primar included enamel semi white (olive green can) with a foam roller.   End result is poping kitchen!  Black appliances.

I put a wow factor that is cheap in the kitchen,  a single italian glass pendant over the sink.  Looks nice.

See this glass shade:  https://www.homedepot.com/p/Westinghouse-8-1-2-in-Handblown-Long-Fire-Pit-Neckless-Glass-Shade-with-2-1-4-in-Fitter-and-4-1-2-in-Width-8573000/204836304

Baths are white painted vanities and 4 bulb light bar.  BRIGHT.

Forget ALL of the things you listed.  Deliver a clean, bright, functioning rental,,, is all tenants expect and will respond to.

Write a good ad to start;  Nicest home in a walkable neighborhood, good schools, safe area.

Then bullet point your ad:  walkable, safe, comfortable home, cute, newly remodeled.

You are worried about once folks are AT the rental showing,,, you need to worry about GETTING folks to the showing with lots of great bright pictures, homey ad write up appealing to the wife who will drag the family to your showing.

Do a cattle call showing, one time on Sat at 1pm or Sun at 1pm, just one.  Drive everyone do that one time.  Only a few serious will show up, don't worry.

See other landlording threads, you need to have a script YOU play while interviewing each family, why are you moving?  Why this area and possibly this house?  What is your current rent, income etc etc.   Have written requirements at the bottom of your ad, that you go over as you interview each family.

My #1 requirement (then the typical others):   - must be long term  tenant, multiple years.   Higher priority given to longer term stays.

IE you won't get what you don';t ask for, and they won't perform to your expectations if you don't state what you want then screen for an applicant meeting everything you're looking for;  income, job duration, CLEAN and QUIET, long rental stay,,, FICO maybe...

Just get folks TO the showing with good pictures, a good rehab to start with, and a clean house and yard.  Any flowers will die.  I admit we have sent many flower plantings and flower boxes on suicide missions just for a showing.  LOL  Do this if you like flowers NOT because tenants will appreciate them.  :)

Account Closed · Answer

I put out a nice welcome mat and some flowers in a pot by the front door.  Sometimes they comment, but I think it’s always a good first impression even if they aren’t consciously aware of it. I’ve only had one house with a shed, but my others had garages so there was some type of storage. In my area people don’t expect amenities like security. I wouldn’t offer it unless it’s expected in that part of Dallas.

Ivan Loza · Answer

@Connie Chan Thanks Connie, that’s exactly the kind advice I needed! My mom is good with flowers, maybe I’ll have her take a trip with me.

Ivan Loza · Answer

@Leah V. Thanks Leah, I’ll go ahead and add the minor decor in the entrance. Plus the mat should help keep the house clean during showings.

I should of mentioned that the security system is a one time expense of about $75, doesn’t require monthly payments, it simply sincs to your smartphone and nothing else. But even then, might be unnecessary.

Curt Smith · Answer

Offer simplisafe.com as an option, they pay the monthly you offer only if they want security.   IE don't do upfront.

Storage, I hear you re storage...   I put in chain link fenced yards since I do dogs as a way to hook long term tenants/families with a dog.  I take a few dogs too. so fencing is a must for me.

It really is market dependant.  Check out your competition re storage!!!   DO NOT ASSUME tenants have the same needs you do.

Ivan Loza · Answer

@Curt Smith yes this indeed a blue collar Dallas home that I am aiming to rent for $1350; mortgage w/ insurance+taxes is $725.

The house is fully functional and renovated inside and out, it will be mine this week. I will make it my mission to make it as bright and clean as posible.

I don’t care too much for flowers lol, just read in a bigger pockets book that window boxes add life to front of the house. And although fully renovated, this house is admittedly plain looking.

I will look Into all of your recommendations!

Quick follow up questions:

1) I feel a shed is a must, House is small 1100 square feet with no garage, but huge backyard (1/4 acre). I hear storage space is key to finding long term tenants. Do you think it would make much of a difference if I went with a 50 sf shed vs a 100 sf? Would cost me about twice as much. $800 vs $15000.

2) should I spend around 80 bucks for a 5 Star security system on amazon? It could make for an appealing bullet when marketing

3) Should I include a refrigerator given that many potential tenants already own their own?

Thanks for the tips!

Inexpensive hacks to increase a rentals value?

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