It’s more difficult to show a unit if it’s not move-in ready. Tenants in New York City look for attractive, well-maintained apartments in a well maintained building.
The market moves quickly in New York. You’re probably going to generate a lot of interest as soon as your rental property is listed. But, you don’t want to let prospective tenants go and see it if it’s not ready to show.
Before marketing photos make sure you’ve taken these important steps to prepare your home or unit for the New York City rental market.
Where It Starts: Curb Appeal
Start your rent-ready process with your curb appeal. This involves evaluating both the building itself and the individual unit you’re renting.
A lot of prospective tenants will form an opinion about your property just by the way it looks from the outside and decide whether or not seeing it is worth their time. First impressions matter, especially when people are deciding where they want to live.
Pricing Your New York City Home to Attract Tenants and Avoid Vacancy
Proper pricing is essential before you list your home. Getting it rent-ready means exploring the market rents and attaching a competitive and profitable rental value. Why? Because it impacts how quickly you’re able to lease the unit and what kinds of tenants you’re attracting.
To increase your rental income and your long term ROI, you need to avoid vacancy and get a good tenant into your property as soon as possible. Overpricing a unit can cost time, which ends up costing money. Price is driven by inventory levels, location, property condition and size, amenities in the building.
Rent Ready Units
The goal is to offer a well-maintained apartment unit.
There are a couple of reasons to make sure there aren’t any lingering maintenance needs as you’re making your rental home ready. First, it preserves the condition and value of your asset. Deteriorating units are always more expensive when it comes to upkeep. Any deferred maintenance will come back to haunt you.
You’re also trying to demonstrate to tenants that you care about the property’s condition and you’re invested in providing a good home and an exceptional rental experience.
The condition of your home during the leasing process shows tenants what you expect in terms of maintenance, cleaning, and care during the lease period.
Some things to check while you’re making the place rent ready include:
- Appliances. Turn all of them on and make sure they work.
- Electricity. Check every outlet and light switch and make sure all lightbulbs work.
- Plumbing. Flush every toilet and turn on every faucet.
Look for Opportunities to Upgrade Your New York City Rental
It doesn’t always feel like a safe bet to invest extra money into your property before you’ve even begun earning rental income, but cosmetic upgrades and general improvements can really help you earn more. You don’t have to do a complete renovation. Instead, make some small improvements that tenants will notice and appreciate such as:
- Fresh paint
- Clean floors
- Better lighting
- Clean appliances
- New counters, fixtures, or faucets
For example, if you install new hardware on the drawers and cabinets in the kitchen, you’ll give the whole room a modern, updated look. Instead of replacing worn carpet, consider putting in some hard surfaces such as tile or laminate. New faucets will get attention and so will updated window coverings. A rental property that has something other than those plastic white mini-blinds will really stand out.
Professional Cleaning and the Rent Ready Process
A clean property is absolutely critical when you’re listing a home and attracting renters.
If the unit you want to rent out is cluttered with personal belongings, buckets of paint, empty boxes, or lots of trash – you’re not ready to market it yet. There shouldn’t be anything that once belonged to you or your former tenants. All marketing photos should exhibit a clean, empty unit.
Hire professionals who will clean every bit of the home. You want the appliances to be pulled out from the walls, ceiling fans to be cleared of their dust, and toilets sparkling like they’ve never been used before. This matters to your marketing and it matters when you show the property to tenants.
Discerning tenants will simply be unwilling to move into a property that isn’t totally clean. No one wants to live with someone else’s dirt.
Provide an outstanding home, and you’ll attract an outstanding tenant. Outstanding homes don’t have to be huge, perfect, or even ideally located. But, they do need to be clean. Cleanliness is never negotiable with a rental property. Clean it thoroughly and make sure the tenants understand that you’ll expect to have it returned in an equally clean condition.
Marketing Your Rent Ready New York City Property
We recommend you put together a listing that includes several high quality photos. The pictures will draw tenants into your listing faster than anything else. You should include photos of the building, the living space, bedrooms, bathrooms, and the kitchen. If you’ve got a great view, show that. If there’s a balcony or any outdoor space, you want to showcase that.
One of the best ways to effectively prepare your property for the rental market is to work with a professional New York City property management company. Property managers know the local market, and we understand the needs and desires of your most selective tenants. When you partner with a professional, you know you’re getting:
- A smart pricing strategy.
- Professional marketing.
- All legal guidelines will be followed.
- Excellent photos that show off your home’s assets.
- Relationships with the real estate network in New York City.
- Knowledge and experience on what works well and how to rent quickly.
We’re experts when it comes to effectively marketing a rental property in New York City.
If you have any questions while you’re getting your own investment property ready for the market, or you’re interested in hearing more about New York City property management, please contact us at Krieger Property Management. We’d be happy to speak with you about what you need.