Whether you own a duplex, tri-plex, or large apartment complex, demonstrating pride of ownership can make a difference. Yes, curb appeal in the world of real estate investing does mean something. As the proverbial saying goes, “A picture is worth a thousand words.”
Why, because when you take pride in the appearance of rental income property you own, you show respect for the property you own. Translation: If you care for those things that show from the curb, you might also care about those things not visible from the curb. Further translation: People who drive by the property (potential renters or buyers) will want to see more—and whenever you are able to get someone to do more than merely drive by your property, it can translate into dollars for you.
Here are some suggestions; all rather basic, but a quick and easy way to demonstrate a pride of ownership that can reel in potential customers and ultimately add value to your property overnight.
- Landscape: A well-maintained lawn and shrubs, perhaps spreading some bark dust, can make a world of difference to the curb appeal.
- Clean: Regularly pick up trash—discarded debris or cigarette butts in flowerbeds or parking areas scream messy. Pressure washing the exterior walls, windows, walkways, decks, and parking areas can turn a drab property into a fresh vibrant one that seems to beckon new renters and buyers.
- Fix: Repair broken gates and fences, guardrails, and gutters. When fixing, just be sure to do it right and to use quality material.
- Paint: Freshly painted front doors and touch up paint for nicks and stains on the exterior walls give an overall impression of quality throughout.
Common sense, of course, should tell you that it does little good to attract customers with great curb appeal only to lose them once inside the units. The inside of your real estate investment property should also display pride of ownership.
Moreover, remember (for a buyer) the appearance of too many needed repairs typically gets reconciled with either a low-ball offer or no offer at all; and you lose, either way.
