Tips to Get Your Rental Property Sold Fast

Sometimes, you just gotta sell. I won’t go into the myriad reasons why these moments arise, because there are just too many. But when the time comes to unload a piece of real estate, most investors want to get it over and done with quickly so they can get the money in their pocket. Use these tips to get your rental property sold fast:

• Clean and declutter. Seems like a no-brainer when selling a house, but you’d be surprised at how many sellers don’t bother to clean up their property before they list it. In some cases, they just want to wash their hands of it, so they have zero motivation to spend time on making it look better. However, a dirty house or one full of junk is a huge turnoff to most buyers, and it’s worth it to spend the time/money to spruce the place up. Hire a housecleaner to come in and give the place a thorough cleaning so that it looks fresh and tidy when potential buyers see it. Make sure the yard is in good shape too.

• Don’t go crazy with any upgrades. Investors looking to get the most bang for their buck may decide to go with a few upgrades to add value to their property. An updated bathroom can add 20 percent in value, and a kitchen can bring in even more. However, there’s a fine line between adding value and going totally overboard to the point that you actually lose money. A basic update of the bathroom is one thing, but turning it into a spa escape is another. Before embarking on any remodeling, make sure that you’ll actually make money off the deal and that whatever you do will appeal to a wide range of buyers.

• Stage it. If you really want to make a good first impression with buyers, stage the property before listing it. Some people have a tough time visualizing how a space should be used, and arranging the rooms with attractive furniture can help them picture themselves in it better. Staged properties sell faster and garner higher prices than unstaged ones, plus they photograph better and flaws become less noticeable.

• Use great photos in the listing. Speaking of photographs, it’s very important that your listing includes photos that highlight all your home’s best features. Make sure your images are crisp and clear, and that there is adequate lighting. Take your pictures on a sunny day if possible, and flip on the lights before you start snapping away. Take interior shots from the doorway to get as much of the room as possible into the picture, and take the exterior shot from an angle rather than looking straight on at the house.

• Price it right. Another no-brainer. Too many investors make the mistake of pricing too high in hopes of making more money, or too low in a bid to sell as fast as possible. But if you list too high, the property is just going to sit on the market with no activity. Too low, and people are going to wonder what’s wrong with it. Run the comps for the area and find a target price that will appeal to buyers but still get you what you want out of it.

• Be a good seller. No one wants to deal with an obnoxious, nuisance of a person when they’re considering buying a property. Whether you’re selling the property yourself or working with an agent, be the type of seller that YOU would want to work with if the roles were reversed. Be responsive, available, and flexible. It will put potential buyers at ease and help make the whole process smoother for everyone.