Tenants in Philadelphia really want value, safety, and good maintenance. Those are their expectations when they rent a home.
If you’re already providing a fair rental value, a secure home, and a well-maintained property, what else can you do to attract the best residents to your rental home?
Updates and upgrades can help. But before you invest in a full renovation, take some time to investigate what tenants are really looking for when it comes to cosmetics and aesthetics. Bamboo flooring and marble bathtubs are lovely, but there’s probably not a market for that in and around Philadelphia.
Let’s take a look at the cosmetic upgrades that renters really care about. This will give you a good guide for making improvements and renovations that are meaningful and cost effective.
Know the Philadelphia Rental Market
Before you begin upgrading and updating, you need to understand the tenants you’re trying to attract. In-unit washers and dryers might be more appealing to tenants than granite counters. Fresh paint on the walls will be expected, but maybe you can appeal to new tenants with a freshly painted front door or a focus on trim and baseboards.
The best way to give your property a competitive advantage is by studying what other homes have to offer.
Take a look at similar rentals in your neighborhood. Are they offering upgrades and updates that you have not considered? Maybe they have energy-efficient appliances. That’s something that matters to tenants more and more as energy costs continue to rise. Or perhaps there’s some updated technology installed, like video doorbells or smart home wiring.
Study the market and the offerings in other properties before you prioritize your own cosmetic upgrades.
Cosmetic Upgrades for Floors
Perhaps the best cosmetic upgrade you can invest in is improving your floors.
Rental property carpets can get old and tired really quickly. We know it’s easy enough to steam clean those carpets during every tenant turnover, but most rental property carpeting will have to be replaced every five or six years. Eventually, cleaning them won’t be enough.
Consider a hard surface flooring instead of carpet. Hardwood floors are attractive but they’re also pricy. So, find something that’s a little closer to your own budget. You can find a high-quality laminate that looks great. This upgrade provides cosmetic benefits and several other perks:
- It looks more modern.
- It’s better for prospective tenants who have allergies or pets. There aren’t any fibers to trap dog hair and dust. Those allergens won’t get caught in carpet fibers and it’s much easier to remove odors.
- Hard floors are easier for tenants to clean and maintain.
- You’ll get a longer lifespan out of hard surface flooring than you will from carpet, so your replacement costs go down per unit.
Better flooring brings in better rents and attracts better tenants. This should be your first cosmetic upgrade if it’s in your budget.
Paint, Lighting, and Window Upgrades are Cosmetic
Once the floors have been spruced up, tenants will appreciate how the walls and ceilings look. So, focus on paint and light and windows. Here’s what we mean:
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Paint
Fresh paint is always a good way to update your rental property, and tenants are going to expect it. Instead of doing touch-ups here and there, paint the whole wall before a new tenant moves in.
Most rental properties have every wall painted in some shade of white. That’s fine because you want to stick to neutral shades, but consider something like gray instead. It will still match any décor and furniture that your tenant may have, and it also looks better in your photographs when your rental property is listed online.
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Lighting
Upgrade your indoor and outdoor lighting if necessary. Outdoor lighting is critical for safety purposes, and inside, tenants will want light fixtures that match the hardware you have in each room. This type of attention to detail will help you earn more on your investment property.
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Window treatments
Those cheap plastic blinds are ugly, and they are easily bent, torn, and destroyed. Consider replacing them if they’re currently on your rental property’s windows. Your current and future tenants will thank you. You’ll also create an attractive space that commands more rent. Replace blinds with horizontal wood blinds or linen shades that easily pull up and down. While you’re at the windows, make sure they are in good condition, lock properly, and insulate your home from drafts and insects.
Focus on Kitchen Upgrades
Kitchens are fun places for upgrades because there are a lot of options. When it comes to cosmetics, kitchen spaces matter to tenants. This is a gathering place for many residents, and they want to feel comfortable.
Provide a clean and welcoming space in the kitchen that is attractive and modern. Consider installing tile or ceramic backsplashes and new faucets. Replace drawer pulls and cabinet hardware. Even lighting will make a big impact if you can install some good hanging lights instead of that industrial overhead lighting.
Cosmetic Bathroom Upgrades
Bathrooms need to look clean. And, they shouldn’t require a lot of maintenance from tenants or from you. While bathrooms are a lot smaller and more functional than emotional, you should still pay attention to bathroom upgrades when you can.
Change any outdated lighting or chipped mirrors. Consider putting in some new fiberglass around the shower and tub. No one wants to take a shower in a stained and worn bathtub. Tile is great for a bathroom upgrade as well.
Curb Appeal for Philadelphia Rental Homes
Finally, tenants will want the outside of their home to look good.
Provide a welcoming and inviting atmosphere at your rental property. Make sure the outside of the home looks attractive. Mow the lawn and trim the trees and weed the flower beds. If you’re renting out a unit in an apartment building or a multi-family home, make sure the common areas are updated and free of debris and clutter.
If you’d like some help making a list of cosmetic improvements to attract tenants, contact us at TCS Management. We can customize our recommendations to your specific property.
TCS Management is a full service property management company headquartered in Philadelphia, Pennsylvania, also serving Harrisburg, PA, Cherry Hill, NJ, Wilmington, Delaware and the surrounding areas. We focus on single-family and multifamily residential property management of homes, condos, townhomes, and apartment buildings.
