Monday, October 2

How to Justify a Higher Monthly Rental for a House

When you own a property and you wish to get the most out of it, it doesn’t happen automatically. Everyone who’s renting wants as good a deal as they can get, so higher rents must be justified to be accepted by renters.

Also, even in a market where rentals are low on the ground, it’s still helpful to have selling points that differentiate one house from another that’s available to rent.

Here a few ways to justify a higher monthly rental for the house.

Offer Shorter Lease Terms

While you may prefer a lease that’s a year or longer, it ties people into one location. If they have a new job opportunity and need to move, the penalties to get out of the lease could be more than the upside of changing locations for a better-paid job.

By offering a shorter lease for a higher monthly rental, the house is still as affordable for people who wish to stay longer but it offers flexibility for those unsure where they’ll need to be in six months. The higher price is also reflected in the cost of finding replacement tenants sooner.

Arrange for Cleaner Water

The water supply in a house may not be as clean as it could be. Fluoride is often added to the water supply or gets into it in other ways too. In small amounts this is fine, but excess levels of this abundant mineral are not good for the body.

Get a filter for removing fluoride from water. This makes the water safer to use in the home. It’s also an appealing unique selling point, especially for parents with young ones where they care about their oral development.

Don’t Discount Curb Appeal

Much is talked about curb appeal, so much so that it’s often discounted by landlords. The thinking is that getting a place looking great inside and in the backyard is more important. Maybe so, but what’s lost in that argument is when making a poor first impression – it’s difficult to shake it off!

Get a gardener in to tend to the plants (and replace any that have died or are dying out), mow the lawn, and bring the front up to a high standard. Also, fix any missing stones on the pathway or bricks on the front wall too.

Allow Pets

While most landlords dislike allowing pets into a home because of the potential damage to the furniture, carpets, and other areas, it does leave out many potential renters.

Making the home pet-friendly isn’t difficult to do. A dog will provide added security (a cat, not so much!) for when the renters are not home too. So, it’s not all bad news.

Ensure the tenancy covers any damage that may be incurred. Require a higher security deposit as well as increased rent when accepting pets in the house too.

Improving the décor, making it brighter inside and adding a big-screen TV are all things that go down well. Also, the faster the broadband speed, the better. That’s a big plus, especially when there are Wi-Fi repeaters to ensure a strong signal everywhere in the home.

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