Rentals are bouncing back! Is your property ready?
Category General News
If you're between tenants or thinking of becoming a landlord, there's good news. Now's the perfect time to list your property. The repo rate was recently hiked by 75 basis points to 5.5%, with the prime lending rate now at 9%. According to TPN Credit Bureau's recent Residential Rental Monitor, this has the potential to create demand in the rental market as consumers battle with debt and delay property purchase decisions.
With more repo rate increases on the cards, nothing should stop you from making your rental property as appealing as possible. Kellaprince Properties explores the ways you can attract qualified tenants and have them stay for longer.
Get your rental property up to scratch
To fill your vacancy and maximise your rental price, it's important to ensure your property meets the needs of tenants.
Make it move-in friendly: First impressions count! By giving your property a fresh coat of paint in neutral colours, updating fixtures, adding modern appliances, and giving your property a good cleaning, you can showcase it at its best.
Add pet-friendly features: By welcoming four-legged friends into your rental property, you can widen your tenant pool. Switching carpeted floors with vinyl, tile, or hardwood can help tenants keep their homes clean. Also, consider how the property is fenced, beautifying the backyard, and enclosing the patio for a safe place for pets to rest.
Prioritise storage space: When tenants move in, it can be challenging to find where to store their belongings. By adding more cupboards, you can make your rental attractive. Also, think beyond the box. Installing shelves, hooks, and racks can make a huge difference. You can even add more drawers to cupboards to get the most out of these storage units.
Install prepaid utilities: Tenants love convenience. By inserting a prepaid metre for water and electricity, you can put the power in their hands. They can have direct control over their usage, budget effectively, monitor their spend, and save in the process. There won't be any month-end billing shocks.
Refresh the garden space: Not all tenants appreciate a garden, so you can hit the sweet spot by creating a beautiful space that is also low maintenance. Plan a fuss-free layout that is easy to navigate, opt for sturdy plants like succulents, and install automated sprinkler systems to take the effort away.
Put safety first for tenants: With rising crime levels, always ensure tenants feel as safe as possible. Here are some of the features they appreciate: alarm systems, electric fencing, beams, CCTV cameras, Trellidor security, security lighting, access gates, intercoms, and remote garage doors.
Appeal to the work-from-home renter: With many professionals still working from home post-COVID lockdown, you can create their perfect space. Well-placed shelves or a cupboard upgrade can create a home office experience. Also, consider fibre or WiFi to keep the whole family connected.
Get compliance certificates in order: Compliance certificates can give potential tenants peace of mind that electrical work, gas, and water installations have been done. Ensure you hire reputable contractors to evaluate your rental home and get new checks done when the certificates expire.
Promote the appeal of your property: Once your property is sorted, you should highlight everything that makes it great. Whether it's a competitive asking price, proximity to great amenities, or other perks, show why a tenant should choose you in your listing. An experienced property practitioner can help you put together a winning description, together with captivating images of your property.
Let your property with rental experts
Your rental is a significant financial investment. When seeking rental services, it's important to let your property with those who have a history of excellence. Kellaprince Properties is a trusted name in Nelspruit/Mbombela and surrounding areas including Barberton and White River. List your property with us today.
Author: Kellaprince Properties