Struggling to Find Tenants? Watch out for These 5 Top Turn Offs for Renters
That real estate is one of the most lucrative investment options is not in doubt. Experts project the global real estate market to reach US$4.2 Trillion by 2027. Rental property is one of the attractive options in this massive industry. If you own rental property, the biggest aim is to maintain high levels of occupancy. This is possible if you maintain the highest standards for your property.
If you’re struggling to find tenants for your property, there must be an underlying reason. Below are some common turn offs for renters.
Poorly Maintained Exteriors
First impressions matter and this is more important for someone who wants to live for years in the house. If your apartment complex is old, property managers should spruce it up with power washing, repainting, and other simple maintenance tasks. The idea is to make the best first impression for potential renters.
Signs of Water Damage
Moisture damage points to big hidden problems in a house’s structure. There could be a problem with the roofing, foundation, walls, or landscaping drainage. All these water problems could lead to flooding when it rains.
Signs of water damage, including damp/peeled walls, wet floors, efflorescence on walls, and damp ceilings, turn off potential renters. If your property has water leak problems, get it repaired before you put the house on the market. In this age of social media, it’s easy for the renters to share such information on social media.
A Hint of Bed Bug Infestation
If there’s one thing renters hate, it has to be bed bugs. These pests can turn a household upside down. No one wants to risk renting a house with a bedbug infestation. Renters look at all nooks and crevices, especially in the bedroom, for any signs of infestation. They might also talk to other tenants to confirm any risks. If you’ve had an infestation, get a professional to handle it and work on the house before viewing.
Old Fashioned Kitchen
Renters today have a lot of information available and they understand the latest trends in the industry. If you have retained an old-styled kitchen for years, it’s time to update it or else you won’t find tenants.
The kitchen is one of the most important spaces in a house. More families spend time in this space and this is a reason to upgrade it.
When people come for viewing, they expect a modern living space with all the latest perks. The bathroom is an area of importance for renters. One look at the bathroom will tell you if they will take the house. The bathroom is a sanctuary which needs to be clean.
If yours is an old-fashioned bathroom, you’ll have a difficult time convincing renters to move in. They expect the latest bathroom trends and if you haven’t updated this space for a long time, it’s hard to enjoy the best ROI.
Rental property is a great investment and offers a stream of income and returns. But you can only enjoy these benefits if you maintain exquisite standards for your houses. Watch out for these common peeves that turn off potential renters.