Renting out your property can be an excellent way to make extra income. However, it goes beyond the exchange of rent. There are plenty of ways to create a great experience as a landlord. If you’re looking to offer the best as a landlord, think about the following things that can enhance the experience for your tenants:
Offer rewards for worthy tenants
When you’ve done the work of researching potential tenants with screening reports and credit checks, chances are that you have some great tenants moving into your home or condo. A great way to make sure you take care of great tenants is to provide rewards in some way.
Whether that looks like a housewarming gesture that allows them to feel welcome in their new home or it looks like discounts on a month or so of rent upon lease renewal, showing top tenants that you value them can go a long way in helping you to keep them.
Be on top of repairs or remodels
If you want to provide valuable services to your tenants, make sure you’re staying on top of what you should already be offering people renting your property. However, you could take the services you provide a step further. Perhaps remodeling various aspects of the property could enhance your tenant’s experience.
For example, maybe your tenants could use a little more space for a home office due to things like COVID-19 and autoimmune disorders. Creating that space for a home office could provide your current tenants with helpful space while also improving the value of your home. As long as you have the capital and the tenants are okay with some work being done (if they already live there), then it could be a great move for future rental possibilities and increase the rent down the line.
Cleaning services
Whether it’s just for moving out and moving in or it’s something that you offer your tenants on a monthly basis as an added bonus beyond rent, there are reasons why staying on top of cleaning can be important for your property. Not only does cleaning help your tenants feel great about their new place or take the weight off of them when moving out, but keeping it clean also provides them with a great living experience while also helping to ensure your property stays up-to-standard.
Make your home a smart home
In this day and age, people care about the environment. Wherever you may be located, chances are you’re experiencing a hotter summer than normal. So, if you’re someone who both cares about the planet and provides a great experience for your tenants, it doesn’t hurt to make some changes to your home to make it a smarter one.
From an updated HVAC system to solar panels for energy supply, there are a number of ways that you can provide value-added services to potential tenants and even increase the value of your home.
Make it pet-friendly
In this day and age, a lot of people have pets, and offering a pet-friendly space can help you appeal to more potential tenants. It can also position you as a great landlord in many areas. Ensure that you ask for a pet deposit to cover any damage that could be caused by your tenant’s pets. Additionally, do your best to provide value-added services that make it a great experience for your tenant and their pet(s).
In Conclusion
As you look at your rental property and the appeal it has right now for potential tenants, consider ways you could improve the overall experience for tenants and see if you can do better as far as improving the value of your home for future renters as well. Hire a property manager if needed to help ensure you’re providing the best for your home and your tenants!