If you have made up your mind about renting your apartment in Los Angeles, It’s very likely that you already know that you will be entering a vast competitive real estate market. The only way to stand out is to present your apartment extraordinarily.
Not sure how to prepare your apartment for rent? Stop worrying and start taking notes! Our step-by-step guide will help you make your apartment garner a mass-market appeal instantly.
Step 1: Understand the Renter’s Perspective
No matter how fabulous your apartment appears to you, it will not attract renters unless it is prepared according to their needs. Therefore, the first thing to do is to analyze the mindset of your target market. Luxury apartments, for instance, target individuals who are ready to pay for superior comfort and lavishness. Think about what is essential for a renter who steps into your apartment. Consult expert property managers and network with apartment owners in your neighborhood to get an idea of what the tenants regularly ask about when renting a place.
Step 2: Wipe, Dust & Clean
Remember that tenants can settle to pay a higher rent if your apartment looks clean and well-maintained. You’ll see that a good looking apartment leaves a lasting first impression and attracts high-quality residents. Cleaning includes:
- De-cluttering the entire living space
- Wipe off any stains on the floor, cabinets, windows, kitchen counter, etc.
- Dust up the furniture, doors, and any glass items
- Open up windows for ventilation and treat any issues causing bad odor
Step 3: Spruce up the Balcony
The exterior of the apartment has a great impact on the prospective tenant’s perspective. A well-groomed terrace or balcony will give your property an edge over others. If you have a terrace or balcony attached to your unit, don’t forget to give it an exceptional appeal. You can do this by:
- Planting unique flower species
- Painting the plant pots with unique colors
- Adding small accessories such as artificial grass carpets
- Placing comfortable furniture such as a tea table and a couple of seats
Step 4: Stage Your Apartment
Cleaning your apartment won’t attract the renters unless you also stage it efficiently. Your apartment must reflect an increased sense of livability and appeal to the tenant’s lifestyle desires. In other words, the key is to stage it in a manner that the prospective tenants can imagine themselves living in it. Remember that staging requires you to invest a little, so allocate your budget accordingly.
A few ways in which you can transform your apartment are:
- Repainting the walls with light and neutral colors – especially if they were painted with loud and eccentric colors before. Your favorite hot pink color may not appeal to many tenants.
- Upgrading the flooring if the present floor tiles too many cracks or stains that aren’t going away
- Re-furnishing the worn out or broken cabinets, drawers, etc.
- Replacing old and torn carpets
- Ensure fully operational electrical appliances including HAVC systems
Step 5: Carry a Pre-Lease Inspection
Your prospective tenants will probably get an inspection done as well. However, if you get a pre-lease inspection yourself, you will not only gather evidence to prove that your apartment is a safe place for living but also appear to be a responsible landlord. Doing an inspection is a great way of ensuring that your home is ready for use by other people. You can also show the inspection report to your prospective tenants to assure them that the apartment:
- Has well-functioning utilities
- Is safe and structurally sound
- Is free of pests or any infestations
- Has emergency equipment such as smoke detectors, fire extinguishers, etc.
Stage 6: Hire a Property Management Company
Part of preparing your home for rent is to get assistance on the leasing process. For many first-time landlords, this can be very confusing. A reliable property management company can help you:
- Manage your property
- Secure a legal lease contract
- Screen potential tenants
- Collect rent and manage repairs
- Deal with cases of eviction
Stage 7: Determine the Rent
The final step of preparation is to determine the value of your apartment, figure out the average rental rates in your neighborhood, and then decide on how much rent you are going to set for it. Your property management agent will help you compare the rates of rental properties similar to yours. When renting an apartment in Los Angeles, keep in mind that certain months are more attractive for tenants than others.
Contact Pezzini Luxury Homes
Pezzini Luxury Homes is one of the most reliable property management companies in Los Angeles. Our trusted and experienced team will help you in finding reliable tenants and making your experience as a landlord much easier.