There are parts of the country where for the most part, rental properties are brand new with every modern convenience imaginable. There are other parts of the country where those modern properties compete with the charm of older rental properties. Luckily, everyone in the market for a rental has his or her preference and as long as you treat your older property well, you’ll be able to find its perfect match.
An older property will likely need some updating, but property owners should be sure not to eliminate the building’s charm. First of all, make sure the workhorses of the property work well. Modernize the heating system and replace the windows, and make sure pipes and drains are in good working order. Be able to reassure any potential renters that the charming kitchen sink straight out of a farmhouse won’t suddenly back up in the middle of the night and flood the kitchen.
And speaking of kitchens, give it a facelift. New cabinets or a fresh coat of paint go a long way. Give the bathroom the same treatment. People seeking rentals often are sold on kitchens and bathrooms, so make sure that in your older property, these rooms look bright, clean, and modern rather than dark and dingy.
Updating appliances is another good way to help your older property rent quickly. A new fridge and stove that match your property’s character is a must and if you have the space, install a dishwasher or a washer and dryer combo.
Appeal to the romantic nature of potential renters by knowing the property’s back story. Old pictures of the way the home or apartment used to be decorated are fun to have on hand, as well as information about the year it was built and who lived in or owned the property over the years.
These relatively inexpensive updates help property managers with older properties easily compete with modern properties on the market. There’s no reason to undergo a complete renovation. Instead, maintain your older property’s charm while giving it a facelift and offer renters seeking an older property the best combination of old and new.
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