Every Property owner understands the importance of increasing the value of your rental properties. This tends to increase your earnings from the property among many other things. One way to significantly enhance your rental property's value is its Curb Appeal. In this blog post, we are giving you tips for improving your rental property's curb appeal.
What Is Curb Appeal
Curb appeal refers to the aesthetic appeal of a property when viewed from the street. It speaks about how appealing your exterior is. It's also known as front-of-house landscaping. Many modern curb appeal ideas exist that you can borrow from.
Why is Curb Appeal Important
You need to understand how important curb appeal is to your rental property. You can only decide to invest in your rental curb appeal if you know its importance. Here are some of the important aspects of curb appeal to the value of your rental properties.
First Impressions
Your building exterior is the first thing any prospective tenant will see during inspection. For this reason, it is vital to make a first impression. A tenant can rent a building in the rental markets or reject it by just the exterior. You need to know how to give your rental an extractive exterior and keep it in good condition.
Emotional Connection
A well-maintained and attractive exterior can create an emotional connection with buyers. A beautiful exterior can make them more likely to imagine themselves living in the house. Such emotional attachment can make tenants decide to rent or not.
Increase Property Value
You can price your property high with a beautiful curb appeal. Just improving the exterior view of your property can increase your property value. Many tenants value how their visitors see their home from the outside. They can pay more to get this satisfaction.
Good landscaping boosts rental property, hence, tenants will likely pay more. Things like seating areas in your outdoor space can go a long way to increase your rental value. (What The Best Property Managers Do To Maximize Returns for Investor)
It Becomes Easily Marketable
When you boost the curb appeal of a home, you increase the chance of getting your home rented. Such homes are easier to lease in the rental markets. They are also more visually appealing and attract more views when you post them online. (15 Property Marketing Tips to Attract Tenants).
Return On Investment
Simple exterior upgrades, such as landscaping and paint, can provide a high return on investment. You can gain more from such an upgrade by renting it higher. You will also gain in the long run because the rate at which the property depreciates reduces. Simple modern curb appeal can increase the rent rate and reduce the rate of aging.
Increase in Life Value
The life value of your rental is how much total earnings the property brings to you during its lifetime. Curb upgrades like painting can increase the life value of your building. Little upgrades like this will help reduce the rate at which your property depreciates. This will mean that the property owner will earn from this building for a long time.
Psychological impact
A neglected exterior can create a negative image. It can make buyers question the interior condition. When you improve the exterior, more people will think highly of the interior.
When your prospective tenants are pleased with the outside, they will check the inside from a positive mind. If the landscaping is bad, they are already deterred before checking the inside. (22 Effective Ways to attract tenants for commercial property)
Competitive Edge
The real estate market is becoming more competitive. A well-maintained and visually appealing landscape can be a deciding factor in selling or renting out a property quickly. In a time when most property owners avoid upgrades, you can gain an edge with cheap simple front yard landscaping ideas.
Ways to Increase Your Rental Property Curb Appeal
1. Enhance the Landscape
A well-maintained and visually appealing landscape can greatly enhance your property's curb appeal. You can consider mowing the lawn or hiring a professional landscaper or gardener. Your curb appeal increases when you can keep the lawn trimmed, trees and shrubs pruned, and flowerbeds neat and colorful.
Also, using low-maintenance plants and native species can help save costs. It can also ensure that the landscape remains vibrant all year round.
2. Upgrade the Front of House (FOH)
The front entrance or front of house (FOH) serves as the gateway to your rental property. It also sets the tone for what tenants can expect inside. You can improve your curb appeal by giving your front door a fresh coat of paint. Use a bold and inviting color that complements the property's overall aesthetic.
You can also install a modern and visually appealing garage door. Consider adding some potted plants or a welcoming doormat to create a warm and inviting entrance. (14 renovations and upgrades that can increase the value of your rental property)
3. Outside Light For Houses
Light symbolizes life and security. Outside lights or outdoor lighting for houses enhance the safety and security of your rental property. Outdoor lighting adds a touch of elegance and charm. Install well-placed light fixtures along the pathways, entryways, and landscaping.
This will create a visually appealing ambiance during the evening. Also, consider adding energy-efficient LED lights to reduce energy consumption and maintenance costs.
4. Repair and Maintain Exterior Elements
Regularly inspect your rental property's exterior for any signs of wear and tear. Repair or replace damaged siding, windows, and roof shingles. This will ensure a well-maintained appearance.
Scrape peeling paint and repaint. Refill any cracks in the driveway or walkway. Maintaining a pristine exterior not only improves the curb appeal but also protects the property from potential damage.
5. Upgrade Outdoor Amenities
When you add outdoor amenities, you can greatly enhance the desire for your rental property. Consider installing a patio or deck area where tenants can relax and host guests. Create a cozy outdoor seating arrangement with durable and weather-resistant furniture.
Also, provides amenities such as a barbecue grill, fire pit, or outdoor lighting. Such features can make the property more appealing and increase its value. (Sustainable and Eco-Friendly Real Estate practices for landlords and house owners)
6. Focus on Exterior Color Scheme
The color scheme of your rental property can greatly boost curb appeal. Opt for neutral colours for the exterior as they tend to be more visually appealing. Neutral colors can also blend nicely with different house styles.
Avoid loud or strange color choices that may deter prospective tenants. A fresh coat of paint can go a long way in giving your property a modern and updated look.
7. Enhance Parking Areas
If your rental property has a parking area or a garage, ensure it is well-maintained and visually appealing. Repair any cracks or potholes in the driveway and consider adding a fresh layer of asphalt or gravel. Mark car park spaces and provide adequate lighting to enhance safety and convenience for your tenants.
8. Consider Window Treatments
Window treatments play a crucial role in both aesthetics and functionality. Install attractive and energy-efficient window treatments. Examples are blinds or curtains that complement the overall interior and exterior design.
Well-dressed windows enhance the curb appeal and provide privacy. It also controls natural light entering the property.
9. Regular Maintenance and Cleanliness
Keep your rental property clean and well-maintained. This is essential for maintaining its curb appeal. Regularly inspect the property for any signs of damage. Check for chipped paint or broken fixtures, and promptly address them.
Routine cleaning of windows, gutters, and outdoor surfaces will keep the property looking fresh and inviting. (How Often Should a Landlord Inspect Rental Property)
10. Utilize Professional Photography
When you market your rental property online, use high-quality photographs. This can significantly impact how attractive it will look to potential tenants. Consider hiring a professional photographer who specializes in real estate to capture the best features of your property. Utilize these photographs in online listings and marketing materials to showcase your rental property's curb appeal effectively.
Conclusion
Enhancing the curb appeal of your home is a worthwhile investment. It can attract quality tenants and potentially increase its value. By focusing on the above you can make your rental property stand out from the competition. You can also maximize its rental potential.
Remember, a visually appealing property attracts tenants and also reflects your commitment to providing a high-quality living experience. We understand how this works and where best to concentrate your energy for an excellent curb appeal. If you need more information or guidance, you can talk to us.
