If you’ve decided to purchase real estate in Edmonton for rental purposes, you may be wondering how to make your unit stand out from the competition. Our realtor team at Proctor did some research to find the best ways to make your real estate investment more desirable to prospective renters.
Below are a few of our top tips that will help get you the best return on your rental property investment.
Don’t underestimate curb appeal
First impressions are a big deal, so if your rental property has an exposed exterior do your best to make it look as appealing as possible. If you’re looking for a tenant in the warmer months, be sure that your yard is clean and kept. Make your property even more attractive by adding flowerpots near the front entrance. During the winter months, keep your walkways and driveway clear of any ice and snow to ensure potential renters can safely access your property for a viewing.
Keep your interiors clean and neutral
Walking into a space that looks cluttered and personalized to another individual can make it harder for possible tenants to picture themselves living in the home. Keep your interior design as simple as possible and try to stick to neutral colours that will go with a variety of different furniture colours. You can’t go wrong with white tones on walls – this also helps keep the home looking big and bright. Carpets should all be professionally cleaned, and any hardwood or tile floors must always be swept prior to a showing.
Staging can make all the difference
Bringing a vacant property to life by staging a few key spaces can be a fantastic way to help renters visualize themselves living in your rental unit. If you have the budget to hire a professional staging company, go for it! You can also take the do-it-yourself (DIY) approach and invest in a few key pieces that can later be resold after your property is rented. If you do plan on taking the DIY route, try to stick to a monochromatic colour palette, or choose tones that only vary in shade throughout each space. Remember not to go wild with patterns or personal touches - this could end up being a deterrent for potential renters!
Safety is key
Make your property feel as safe as possible. Ensure your home’s doors are fitted with appropriate locks, and check that all windows can be properly closed. If possible, install a security system on your property. Renters will be happy to know that their potential new home is equipped with home security, plus you’ll have some additional peace of mind knowing that your rental investment has some extra protection.
Do you like the property you see in this post? Take a closer look here, or contact me, Chris Proctor, for more information. You can also browse our featured listings for more outstanding real estate options in Edmonton.