Does Curb Appeal Matter For Rental Properties
The real estate market in Rockford, IL is riding high. Housing stocks in the area are at record lows, and when that happens, climbing prices aren’t far behind. The rising tide is lifting Rockford rentals, too. But if you’re a landlord, or hope to be one, this isn’t the time to coast. Boosting the curb appeal of your rental property can help you command higher rents without breaking the bank on improvements. Superior Realtors and Rental Properties won’t just show you how; our Rockford property management services simplify the experience for you and your tenants alike.
What is Curb Appeal?
Renting out a Rockford investment property
is a bit like going on a first date. A first impression counts for a lot. The difference, in this case, is that you want to attract quality tenants who will make rental worth your while. Your property’s curb appeal is key to that first impression.
So what is curb appeal? The conventional wisdom says that real estate is all about “Location, location, location.” But it’s about a narrative, too, and your whole property is telling a story. The interior may have updated appliances, hardwood floors, and enough closet space to hide a herd of elephants, but if a prospective renter can’t get past the patchy grass, the sad-looking shrubs, a sagging roof, or a cracked sidewalk, you may be starting with multiple strikes against you before they’ve gotten to the heart of the home. Get those details right and a renter is likely to realize you’ve paid close attention to things that matter on the interior as well.
Why Curb Appeal Matters for Rentals
It’s difficult to put an exact dollar value on home improvement ROI. However, most improvements lose money. Improved curb appeal is different since it can return up to 150% of each dollar spent
. Of course, you’re renting in this case and not selling, so you won’t see it all at once. But in a competitive market, anything that gives you an edge helps, especially since every day a property is vacant represents money lost.
How Curb Appeal Helps Retain Good Tenants
What makes curb appeal so important for renters? While they may not be buying your property, their considerations when they’re looking for a place to call home aren’t much different than anyone else’s. They want something safe, sound, and comfortable. They’re also looking for something they can be proud to entertain in, invite guests to, and grow into. Taking care of the fundamentals as a landlord makes your tenants feel more secure, and means the good ones are likely to stick around for longer—and that, in turn, protects your investment.
Real Estate and Property Management in Rockford, IL
Of course, just like a first date, first impressions will only get you so far. Building owner/tenant relationships take work, and Superior Realtors and Rental Properties
takes on that work so you don’t have to. We can suggest interior improvements as well, and once we’re managing your property, we take care of all legally and contractually required maintenance and repairs, from snow removal to plumbing and more. To get started on a headache-free rental experience, get in touch today.