How Important is Rental Property Curb Appeal?
May 10, 2017
One of the more important elements that contribute to how quickly a property manager or management company can lease or rent a single family home is its “curb appeal.” From a rental perspective, the importance of how well a property’s exterior is maintained cannot be overstated. As the property investor, it’s important to spend some time evaluating what a prospective tenant is looking for in a rental property.
Put Yourself in the Tenant’s Shoes
What will prospective tenants think about when they first see your single family home rental? Will they just keep on driving or will they be compelled to see the interior of the home? Needless to say, the maintenance you perform on the exterior is just as critical (if not more so) than what you do with the interior. Remember, good first impressions are extremely important, especially where renting your property is concerned. Without a good first impression, there’s not much hope of them wanting to see more.
Details to Consider Before Putting Out the “For Rent” Sign
While you may have some budget or spending restrictions to consider, the following are some cost-effective considerations when evaluating the curb appeal of your property:
- Exterior paint – Nothing is less eye-appealing to prospective home renters than seeing cracking, fading, or peeling paint on the structure’s exterior. Applying a fresh coat of paint can do wonders for a rental property’s aesthetic appeal. Otherwise, prospective tenants won’t even bother to look inside the home.
- Front lawn – Lawns that aren’t manicured and weedy are an eyesore, especially when every other lawn in the neighborhood is well-maintained. If you have a property management company working for you, ask them if they can include this in their services. Otherwise, you’ll have to deal with lawn care yourself.
- Overgrown bushes, shrubs, and trees – Not only does the condition of these plants detract from a property’s curb appeal, it negatively impacts your ability to lease or rent it. Overgrown bushes, shrubs, and trees eventually become costly maintenance problems such growth into the eaves, patio, or roof of the home.
When you have the time to do so, drive by your properties and ask yourself if you would want to live there. If you answer NO, then obviously it is time to consider addressing any issues that detract from the home’s curb appeal.
Having a property management company as a partner will alleviate the need for you to get your hands dirty since they have contractors and maintenance crews at their disposal to handle these issues. And that will leave you with ample time to focus on other aspects of your business.