It’s Summer and That Means Turnover!

It won’t be long now until school is out and summer has arrived! This normally marks the time when owners and renters are more likely to make the move to a new house or new location. Turnover rates increase and the vacancy rate begins to fluctuate, so whether you’re owner-clients are contemplating selling, trying to fill their vacancies faster and raising the rent, keep in mind that a makeover is always a big plus! To bring in buyers and new residents, here are a few ways to make it easier:

Curb Appeal: This is the first step and it doesn’t matter if it’s a house or even a multi-family complex – first impressions always count! When a potential buyer or renter drives by or up to your rental property or building, they’re either going to want to live there or they’re going to keep driving. Go out and take a look at your properties – do they look inviting? If not, then you need to get the help of an exterior consultant who can give you some ideas. Just adding a few simple touches like quality front door mats, adding pots of flowering plants or repainting the front door in a popular color go very far with potential buyers/residents.

Want to give that “homey” feeling and add warmth? Plant primroses, pansies and geraniums in window boxes. Paint the front porch, trim the trees and just give the landscape a little sprucing up! If you don’t have a lot of money to spend on painting the outside, hire someone to come and pressure-wash your units to see if this will be enough to freshen things up. Trash and unsightly objects always give the wrong impression; clear away debris and trash. Can’t see through the windows? Make sure those windows are clean; replace warped or damaged screens.

A well maintained patio is another focal point and should be neatly arranged if you have patio furniture. Any exterior shutters should also be cleaned. Sometimes we have to take the extra step and take out a loan to replace poorly insulated windows and doors. Taking pride in your homes and buildings sends a message to potential buyers and renters and show that you care about their “quality of life” experience when they rent from you. In some cases the properties fall into the “older” category and we want to keep their valuable architectural features and elements. If that’s the case, it might be worthwhile to consult with a company that specializes in renovating with losing these aspects.

Home improvement or equity loans are more available than ever since interest rates remain the lowest in history. A loan could aide you in cleaning or replacing badly stained carpets and worn out railings.

Remember, the goal in enticing potential renters is to take a building or home that looks old, dilapidated and moldy and turn it into something that looks modern and inviting.

Doing a little staging never hurts either and there are realtors that are experts in providing this service. You don’t have to spend a lot of money doing it either. A few pieces of well placed, nice looking furniture, light fixtures and patio furniture can do the trick – and – you will have attracted a better prospective owner or renter!