Do you have a rental property in Las Vegas, North Las Vegas, or Henderson? As a property owner or investor, it is important to ensure that your rental looks attractive and inviting. Not only will this give you an edge over other properties in the area, but it will also help to attract and retain tenants. Curb appeal is essential for a successful rental property and there are several ways you can improve its attractiveness with relatively little effort or expense.
In this article, we will cover three of the most effective ways to improve the curb appeal of your rental property in Las Vegas and throughout Clark County, and why they are important.
Why Improve Your Curb Appeal?
Before we go through each of the three tips, it is important to discuss why improving your curb appeal is so important. Different property management Las Vegas companies have reported that curb appeal can help to attract more potential tenants, as well as higher quality tenants who are willing to pay a premium for a property that looks attractive. Here are some of the benefits that come with improving your rental property’s curb appeal:
Arguably one of the most important reasons to improve your curb appeal is that it can help you to set higher rent. Tenants are willing to pay more when a property looks attractive, which translates into higher returns for the investor or property owner. Upgrading curb appeal doesn’t have to be expensive and can be done with relatively little effort.
Increased Tenant Retention
Tenants look into different factors that influence their decision to whether or not stay in a property. Curb appeal is one of these factors and can help to increase tenant retention. A property that looks attractive and inviting will make tenants feel more at home, increasing the chances that they will renew their lease when it comes time to do so.
Better Property Value
Another benefit is the increased value of the property. Whether you are planning to sell or not, improving the curb appeal of your property can help to increase its value. This is because potential buyers will be attracted to a property that looks attractive and has been well taken care of.
1. Improve the Exterior of Your Property
Tenants, visitors, prospective renters, and passersby are all likely to judge your property from the exterior before they even step foot inside. After all, it is often the first thing people see. Therefore, it makes sense to invest in improving the exterior of your property and making it look more attractive.
To give you a better idea of how to start revamping your exterior area, here are some of the things you can do.
Get Fresh Paint
Las Vegas is known for its bright and vibrant colors, so why not spruce up the exterior of your rental property with a fresh coat of paint? You can choose from a variety of hues that will match the area and make your home stand out. A note of caution: be sure to use weatherproof paint for the best results. If your property is under an HOA community, then it is best to opt for a color that adheres to the color scheme of the community.
Keep Your Lawn Neat and Tidy
Another way to promote an inviting atmosphere at your rental property is by maintaining a neat and tidy lawn. You can ask your Las Vegas property managers that are currently handling your rental property to take care of this aspect. This includes trimming the grass, weeding, planting flowers and shrubs, and even adding a few decorative elements like garden gnomes or bird baths. Doing so can add charm and character to your exterior area.
Inspect Your Roof and Fix Any Wear and Tear
The roofing system is one of the most often overlooked aspects of a rental property. This can be because of its location, as it is generally out of sight. However, it is important to inspect your roof regularly and repair any wear and tear that may have occurred over time. A roofing system typically lasts for about 25 years, and a damaged roof can cause leaks or even cave-ins. As we all know, leaks can pose a serious health and safety risk to tenants, as well as damage your property‘s appliances and electrical systems.
Clean Your Driveway and Walkway Often
Another often overlooked area is the driveway and walkway. If you have a large rental area or an apartment type where foot traffic is expected, then it is important to clean these areas regularly. Not only will this give your property a clean, polished look, but it will also allow tenants to move in and out of the property easily.
Slips and falls are also more common on dirty and cluttered driveways and sidewalks. So, keeping these areas clean can help you minimize the risk of liability from slip and fall accidents.
2. Upgrade Your Outdoor Lighting
Now that we’re through with some of the basic cleaning and maintenance, let’s talk about adding a bit of flair and a ‘wow’ factor. One great way to add some curb appeal to your rental property is by upgrading your outdoor lighting.
Upgrade Your Backyard with a Gazebo or Pergola
If you have an existing gazebo or pergola, then you might want to add a few touches to make it look more inviting. You can do this by adding a few lights, plants, and decorations. This will add charm and appeal to your rental property’s backyard without breaking the bank. You can also opt for a simple fireplace where your tenants can gather and host parties.
Install Interior Lighting Upgrades
If you are done with the exterior of your home, then the next step is to move indoors and make some improvements there. You can start off with a few modest lighting upgrades that will instantly add value and charm to your rental space. An under-cabinet lighting, chandelier, or wall sconces can make a big difference in the atmosphere of your property.
For kitchens and bedrooms, you can also consider installing LED lights and dimmers. This will give your tenants better visibility and control over the lighting on their property.
3. Install Security Systems
Though aesthetics are important, safety should also be a priority. There are some renters that prefer to look into the property’s security measures before signing a lease, and, working as a Las Vegas property management company or someone who looks after rental properties, you should be ready to provide your tenants with the best security measures.
These measures could mean installing security cameras and motion sensors or adding a doorbell system that will alert tenants when visitors approach the property. You can also consider putting in an alarm system to increase security and peace of mind for both yourself and your tenants. An automatic lock system can also be helpful in keeping your tenants safe.
To give you a complete picture of how you can make your rental properties, we will throw in some bonus tips.
Bonus Tip #1: Invest in Smart Home Technology
Aside from families that are looking for properties to rent, millennials are quickly becoming one of the largest groups of renters. According to Statista, millennials in the United States have increased their share of renters, from 13.3 to 24.7 percent between 2018 and 2022. Out of all the features they are commonly looking for in a rental property, one of them is smart home technology.
Though the upfront cost of installing such features may be large, they can provide a lot of convenience and value, and pay off in the long run.
Bonus Tip #2: Create an Online Portal for Your Property
Another way to make the rental process smoother is by opting for rental property management software. This can be anything from online payment systems to portals where tenants can view their rental agreements and make requests or ask questions about the property.
Bonus Tip #3: Add Landscaping to Your Property
The last tip we have for you is to add landscaping to your property. A plain, boring lawn can be an eyesore, but adding a few features such as garden beds, trees, and pathways can instantly transform the look of your property. Adding these features will also add value to your rental property by making it more appealing to potential tenants.
The Bottom Line
Don’t let your rental property be left in the dust. If you want to attract more tenants, then you should work on improving the curb appeal of your rental property. At New West Property Management, we offer a variety of services that can help you make your property more attractive to potential tenants.
From specialized maintenance services, marketing, and listing to tenant management and comparative market analysis, our team of experts will work with you every step of the way to ensure you get the best return for your investment. Contact us today to learn more about how our experts can help you maximize your rental property’s potential!