So, you’re looking to purchase an investment property in Washington, DC, and you need to know what to look for when searching for the perfect place. When you want to rent your investment property as quickly as possible, there are certain things you can look for that will make the property rent ready.
When you’re ready to start making money as a landlord with a smart investment, here are a few elements to look for that make a property ready to rent so you will have as little to do as possible before moving tenants in.
Updated Kitchen and Bathrooms
Renters look for updated spaces in a rental property, including an updated kitchen and bathrooms. After all, these are some of the most-used areas in a home, so people want to see clean tile, modern light and plumbing fixtures, and decent countertops.
A property with a recently updated kitchen and bathrooms will not only appeal to more renters, but it may just net you a higher rental income per month, so these are elements worth looking for when purchasing an investment property in Washington, DC. Plus, having modern spaces such as these prevents the need for renovations.
Modern Flooring
Even if a rental property has high-quality carpet, it won’t matter to renters. Tenants typically prefer not to have carpet at all in a rental property. So looking for a unit that already has modern flooring in place can help you get the most value for your rental.
Flooring to look for instead of carpet includes:
- Concrete flooring
- Hardwood floors
- Luxury vinyl tile
- Ceramic or porcelain tile
- Laminate floors
In addition, not having carpet in your rental means lower maintenance, as you will not have to clean or replace the carpet between tenants, which is an expense you will have to pay out-of-pocket for as a landlord.
Fresh Paint
A freshly painted property is a rent-ready property. Whether it’s interior or exterior paint, a property that looks fresh and updated with bright paint allows you to skip the painting process and move tenants in faster.
If you’re purchasing a new income property, it’s likely already been painted. Look for properties with neutral colors that appeal to potential tenants, such as whites, grays, and soft beiges.
Recent Landscaping
If the DC property you’re considering has any type of exterior space, whether it’s a common area, backyard, front walkway, or garden, recent landscaping will make the property attractive and rent-ready.
Properties listed for sale will typically already have landscaping done, especially when you’re shopping for an income property in the spring or summer, so you have this to your advantage when searching for your next investment in DC.
New Appliances
Appliances don’t necessarily need to be new to appeal to tenants and make a property ready to rent, but they should be recently updated. Tenants want to see modern, energy-efficient, clean, and relatively new appliances.
This includes the oven, fridge, microwave, dishwasher, and washing machine. If the appliances are not new but have been recently updated, all you have to do is ensure they are clean before tenants move in.
Simplify Renting with FAS Management
FAS Management makes renting your income property in the nation’s capital simple. Contact us today at (202) 337-5080 to learn more about how we can help you make your new income property or current one rent-ready with our experienced professionals.
