The Role of Curb Appeal in Rental Property Desirability

It is easy to see why first impressions are important when it comes to a rental property. The rental market is extremely competitive, so a great curb appeal can go a long way toward drawing potential buyers and tenants. As a real estate investor, understanding the importance of curb appeal and implementing the necessary improvements can help you stand out in the rental market.

What is Curb Appeal?

Curb appeal is the overall attractiveness of a property from the street, including the facade, landscaping, and other elements. The goal of curb appeal is to make a property enticing to potential renters. If a property has good curb appeal, tenants are more likely to view the inside and consider the property as a potential rental.

The Keys to a Good Curb Appeal

The keys to a good curb appeal are a clean and well-maintained exterior, appealing landscaping and lighting, and an attractive front entrance. Here are some tips to get you started:

Clean and Maintain the Exterior

The exterior of the property should be clean and well-maintained. Remove any debris and weeds, and make sure any equipment such as air conditioners or sprinklers are working properly. Pressure washing or power washing the siding can make a big difference in the look of a property.

Add Appeal to the Landscaping

Adding foliage such as shrubs and flowers can make a property more inviting. Consider adding landscaping features such as climbing plants or pergolas to give the property more character. Make sure to keep the lawn well-maintained by mowing and edging it on a regular basis.

Improve the Lighting

Lighting makes a huge difference when it comes to curb appeal. Add solar or low-voltage lights to the pathway and around the house. Pathway and spot lights can help accentuate the landscaping and make the property look more inviting.

Enhance the Front Entrance

The entrance is the first thing a potential tenant will see, so it should be attractive and welcoming. Adding a door knocker, a new coat of paint, and a lush doormat can make a great first impression.

Measuring the Impact of Curb Appeal

Curb appeal can have a big impact on a rental property’s desirability. Here are a few tips to measure the impact of your improvements:

Compare Rental Prices

Do some research in your market and compare the rental prices of properties with similar features. Compare properties with and without curb appeal, and look for any differences in the rental rate.

Track Interest in Advertising

If you’re advertising your property, make sure to track the number of inquiries you receive. Compare properties that have received curb appeal improvements to ones that have not, and note any differences in the number of inquiries.

Note Tenant Response at Open House

When hosting an open house, pay attention to potential tenant’s reactions. Notice the tenant’s response to the property’s curb appeal, such as whether they comment on it or take pictures.

The Benefits of a Good Curb Appeal

The benefits of a good curb appeal are numerous. Here are some of the most significant benefits of a good curb appeal:

• Higher rental prices
• Increased inquiries
• More interest from tenants
• Increased value of the property
• Lower maintenance costs
• Improved energy efficiency

Conclusion

Curb appeal can make a major impact on the desirability of rental property. By making improvements and adding improvements such as landscaping, lighting, and a welcoming entryway, you can make your property stand out in the rental market. While the cost of improvements may be high, the potential benefits in terms of higher rental prices and increased tenant interest can make them worthwhile in the long run.

What is the best way to increase rental property curb appeal?

1. Paint the house and porch – give the house an overall “fresh” look.

2. Plant flowers and vegetation – flowers will bring a splash of colour, while vegetation will add texture to the exterior.

3. Update lighting fixtures – updating lighting around entryways and pathways can create a more inviting atmosphere.

4. Update the address numbers – Replacing old, faded address numbers with more modern ones can breathe new life into a building’s entryway.

5. Pressure wash the exterior of the property – removal of dirt, mildew, and algae off the siding/brick/concrete of the house will help it look newer.

6. Replacing the door – Give the property a more luxurious look and feel by replacing the existing door with a more modern one.

7. Trim or treat existing bushes/hedges – keep all existing vegetation neat and in the desired shape to improve curb appeal.

What are the most cost-effective ways to improve rental property curb appeal?

1. Plant shrubs, trees, and flowers: Planting shrubs, trees, and flowers can improve curb appeal by creating a beautiful and inviting environment.

2. Paint the front door: A simple and cost-effective way to improve curb appeal is to give your front door a fresh coat of paint.

3. Pressure wash: Pressure washing the exterior of your property can make it look brand new and is an easy and affordable way to boost curb appeal.

4. Upgrade hardware: Upgrading your door handles, mailbox, and other hardware can add a luxurious and sophisticated look to your property.

5. Replace the siding: Replacing the exterior siding can go a long way in improving the look of your rental property.

6. Install lighting: Adding lighting fixtures to your exterior is another great way to improve curb appeal.

7. Replace or repair windows and doors: Replacing or repairing old or damaged windows and doors is a small and affordable investment that can help boost curb appeal.

8. Add planters: Adding colorful planters and flowers to the front porch is a great way to freshen up the look of your space.

What are some cheap ways to improve rental property Curb Appeal?

1. Paint the front door.

2. Add a mat or doormat for the entryway.

3. Hang a seasonal wreath.

4. Plant colorful flowers.

5. Place a bench or chairs on the porch.

6. Install outdoor lighting.

7. Clean up the yard and landscaping.

8. Repair or replace worn outdoor items like broken fences, cracked steps, etc.

9. Install a modern mailbox.

10. Install exterior shutters.