Although there are great reasons to buy an income property, competition for renters in Edmonton can be tough. However, you can make your rental suite so attractive that potential tenants will clamour to sign the lease!

All it takes is a little time and effort to spruce up your unit — even if you’re on a budget. Your hard work will pay off in big dividends when potential renters start pouring in. 

Make a First Impression

Because first impressions really do count, you’ll want to make your rental unit look attractive inside and out. Begin by landscaping the property with low-maintenance evergreens like junipers or creeping vines. Potential renters should be able to imagine themselves living in the space. 

A few strategically placed props like an outdoor table and chair set or a wrought iron or wooden bench provide a pleasant place to relax and catch some sun or dine outside with guests. Make sure sidewalks, stairs, and walkways are clean, clutter-free and safe. Repair broken concrete walkways and install handrails along stairs for added safety and curb appeal.

Accentuate the Entrance

If your rental suite has a private entrance, make it a focal point that tenants can’t resist. Nothing makes a statement like a distinctive private entrance accented with a brightly painted door. Planters placed on either side of the door with festive flowers looks fresh and inviting to potential renters and their guests. 

Replace worn door hardware or bell to make the unit look brand new. A brand new welcome mat is an inviting addition to the front entrance. Installing a canopy over the door also provides shelter from rain and wind and shade from the summer sun.

Add Character with Color

Impressive interiors start with a fresh coat of paint and trim. You may love the colour purple but that same hue could run some potential renters away. Use a neutral colour that unifies the space and encourages tenants to put their own touch on their new digs. Beige, ecru, eggshell and Haitian cotton are all neutral colours that can brighten a space without being too overbearing. 

Neutral coloured walls also lend themselves to different decorating styles and provide the right backdrop for almost any design genre. Be sure to freshen interior doors and trim mouldings with a bright high gloss white enamel — white trim makes any wall colour pop!

Tempt Renters with Tasteful Furnishings

Avoid using decorative accents and furnishings that tend to appeal to only a select group of renters. A potential tenant may be turned off by furnishings from a specific era, but an eclectic blend of traditional and contemporary décor might have the greatest appeal. 

Traditional or contemporary furnishings might include a two- or three- seater sofa and two chairs and a small coffee table in the living area; an apartment-sized dining set and a full or queen sized bedroom suite large enough to sleep two people comfortably. 

Coordinate Every Room

Take a tip from five-star hotels: Make your furnished rental unit appeal to the eyes with colour-coordinated appointments. Choose coordinated bedding, wall art or paintings, and drapes for privacy in neutral colours like teal green, rust, taupe, or charcoal grey. 

You can add punches of colour with pillows, an area rug, or throw. Interior designers often choose a colour palette by pulling out background and accent colours from a large rug or bedspread — making a room feel pulled together and inviting. To make the space feel larger, use the same colour palette throughout the suite — from the living room and dining area through the kitchen and bath.

Invest in Upgraded Appliances

Make an unfurnished space more attractive by focusing on appliances and permanent fixtures. You can command a higher rental price with upscale stainless steel appliances, stove, and microwave range hood. Savvy landlords don’t mind investing in higher-end appliances that soon pay for themselves in deposits and annual leases. 

Tenants may not mind paying for a rental suite with newer, updated appliances, new carpeting or hardwoods and ceramic tile flooring. If the bathroom has seen better days, consider upgrading with a ceramic, porcelain, or engineered marble tile shower stall and flooring. Changing the faucets in the kitchen and bath are also ways to add value and aesthetic appeal.

Update Old Cabinetry

Can’t afford new cabinetry for the kitchen or bath? Give your old ones a facelift with a fresh coat of paint and new hardware on doors and drawers! Natural wood cabinets can be sanded and re-stained or painted a high gloss, or new doors can be added for a more modern touch. Hardware comes in a myriad of metal finishes like bright brass, chrome, or bronze. 

Lighten Up

To make your rental suite cozy and inviting, combine all three types of lighting in the space: ambient, accent, and task. Ambient is light emitted from ceiling fixtures and coves that brighten an entire room. A room bathed in natural light during the day is a welcome respite from cold winter nights, but ambient lighting floods a room when natural light is lacking. 

Task lighting over a desk or chair provides a renter with sufficient illumination for reading a newspaper or book. A fluorescent light fixture is great task lighting for meal prep in the kitchen. If your rental suite lacks enough ambient lighting, you can add several freestanding floor or table lamps to accent the space. Placed in strategic areas of the home, accent lighting puts the spotlight over a painting or in a dark corner. 

It may not be part of your landlord responsibilities, but it takes an attractive suite to attract great tenants. Make your rental suite appealing – indoors and out – and you won’t have any trouble getting a tenant who will want to live there happily ever after.