Home Improvement: Four Tips to Make a Rental Property More Appealing to Tenants

“Real estate investing even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.” –Robert Kiyosaki

Manila’s population is at an all-time high. With so many employment opportunities and prospective developments scattered around the metropolis, it would be easy to understand the influx of individuals looking to find work within the city.

As a result, these very same group of people composed of young professionals and job seekers alike would be looking for an appropriate place near their offices to live in. To cater to this unique phenomenon, condominium developers have situated their condominium projects in proximity to offices, entertainment hubs, and schools. In fact, condominium towers have proliferated the city and can be found in almost every nook and cranny of the capital.

Unfortunately, not all of these individuals can afford to buy a condo unit outright leading them to rent it out instead. For this reason, condo unit owners have developed a unique symbiotic relationship with these tenants wherein they offer their condos for rent in Makati and these tenants would have the benefit of living near their offices.

However, there are a lot of condos in Manila alone and there is a good fraction of them that are being put up for rent. With all those considered, how do you make sure that it is your condominium unit that these prospective tenants will select? Well, you can stage it to stand out above the rest for one. Here are some of the ingenious ways you can make your condo rental unit stand out among the others:

1. Get it in Tip-Top Shape

The rental property you have might be vacant, but this in no way means you can neglect its upkeep. Even without inhabitants, it would be an excellent idea to invest a sum of money into the maintenance of your unit. Whether you hire a caretaker or do it yourself is up to you. But regardless, a well-maintained condo will be rewarded with tenants. Basic upkeep should include cleaning the carpets. Applying fresh paint and scrubbing it from top to bottom.

2. Consider Staging

Staging a condo unit is one of the quickest ways to have your unit occupied. If you do not have furniture to spare, you can always ask for the services of a staging company that could supply your unit with furniture and décor. In a sense, this will achieve that “lived-in” effect and feel so that your prospective tenants are more receptive to renting out your property. Alternatively, you can choose to stage your unit on your own but professional stagers would know how to highlight your property’s best aspects and downplay the drawbacks.

3. Make a Good Impression During the Showing

When it comes to a home viewing, the first impression you give is the only impression you will leave, so make sure you leave a lasting one. During the day of your property showing, arrive at least half an hour early and give your condominium units that final touch before your promising tenants arrive. Give rooms that natural lighting by opening up the blinds, sweep the floors, vacuum carpets and if needed, light a scented candle. If you give your prospective tenants a good impression, there is a likely chance they would rent from you.

4. Give your unit small upgrades

Giving your condominium unit small updates might mean forking extra cash for you, but you would soon see how great of an investment it will be once you have successfully rented out the unit. If it does not cost much to upgrade a ceiling fan with a modern one, or replace rusty faucets and handles with new ones, do so. You do not necessarily need to have a keen eye for interior design, just take a brief gander of your rental property’s surroundings and see what are the fixtures or things that need an upgrade, update or replacement.