Five Steps to Transform a Property Into a Successful Rental

Five Steps to Transform a Property Into a Successful Rental

Posted on June 18, 2019 by Great Florida Homes

rental ready home

Investing in a rental property offers many opportunities for a rewarding secondary income. Yet, to be competitive in the market, you need to understand how to best appeal to potential clientele. Here are some ways you can set yourself apart from the competition.

Use Your Wall Space

A blank space can make an environment seem bland and unwelcoming. So, with that in mind, take advantage of artwork and mirrors to create a unique rental identity. In fact, this is the perfect opportunity to use locally made paintings and artwork. They not only show off the destination to guests, but they can also build a positive relationship between you and other businesses. However, try to avoid anything formulaic, as you want any additions to inspire bookings. Likewise, when choosing mirrors, consider how they might fit into a room. After all, the wrong shape, color, or dimensions can take away from its intended aesthetic.

Use Lighting

An excellent way to transform a room that seems cold or too small is by adding light. As a rule, put in three fixtures per room, specifically overhead, ambient, and task-specific lighting, like a tableside lamp (Target has a lot of affordable options starting at around $39.99, which means you don’t have to spend a lot). Also, pay attention to your lamp shades, as they can either bring warmth or make a room seem sterile, depending on the hue. Usually, warm colors work best, but ensure they aren’t too dark — you still want to provide brightness. Lastly, bring in reflective surfaces where you can to magnify your selected fixtures and increase natural light.

Encourage Flow

Unfortunately, large furniture pieces or a lot of knick-knacks can make an environment feel tight, cramped, and overwhelming. That can deter bookings, so it's important to create a layout that emphasizes space and eases navigation. With that in mind, deal with anything that narrows space or otherwise blocks movement, such as furniture near entryways. Similarly, be careful with your choice of flooring. as a mix-and-match approach could make your property feel chaotic. With a consistent layout, you can make your rental feel fresh and open.

Offer Storage

We all need storage; otherwise, we’ll become overwhelmed by clutter. To keep your property tidy and attractive, give guests plenty of storage options by adapting what you have and getting creative. That might mean using some empty wall space for shelving or even magnetic racks to collect all manner of things. Of course, adding storage can be a time-consuming project, so you may want to hire a local handyman. Thankfully, they don't have to set you back in Coral Springs as they typically cost $144 to $406. Don't stop there, though, as you could also dot baskets throughout so that nothing ends up lying around. They can be stylish, and their versatility means they can be used to store towels, toiletries, and even utensils in the kitchen.

Stay Organized

Staying tidy is not only about storage, as good organization can also work wonders and delight your guests. For instance, you could dedicate areas for specific purposes, such as a workspace to attract professionals or a reading nook to provide an opportunity to relax. It's extras like these that not only capture the imagination of a potential visitor but make your property stand out from more basic options. If you want to make an immediate impression on guests, keep the entryway organized and styled to look modern. By providing guests with systems to stay organized, you can keep them engaged and help your property remain clutter-free.

With careful, thorough planning, you can grow your business and attract potential guests more easily. It may take a few minor modifications, but by introducing the right changes, you may see higher returns. Owning a rental can be a fulfilling experience that generates extra income, especially once you have transformed it from basic to fabulous.

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