Owning rental properties can be a great source of income. However, you also need to deal with numerous challenges, such as finding tenants for your vacant properties.
If you are struggling to fill empty rental properties, you should first consider the condition of the properties. You may not need to spend a lot of money on advertising or renovations. You should simply give the place a facelift by repainting the property.
Use these tips to ensure that the new paint job helps attract new tenants.
Select the Right Paint Colors
Painting the walls of a room is one of the easiest, most cost-effective ways to update its look. Choosing the wrong colors can make the room an eyesore while selecting the right colors may make the room more inviting.
The general recommendation when painting a home that you plan to rent is to paint the walls white. This is a neutral color and helps brighten dark rooms or hallways. It also helps tenants visualize how the room will look with their possessions inside.
While white is preferred, it is not your only option. Other neutral colors to consider include various shades of earth colors such as gray, tan, or blue. However, if you choose these colors, you should opt for a light shade to create less of a distraction.
Speaking of distractions, you should avoid any bold colors such as pink, neon colors, and bright colors. You want to keep the colors calm and neutral.
Select the Right Type of Paint
Along with the color of paint, you need to select the right type of paint. This includes choosing between water-based and oil-based paints and various finishes. The most common finishes include matte, eggshell, satin, and semi-gloss.
Most interior paint is water-based and available in a variety of finishes. Oil-based paint is available with high-gloss finishes and is typically used for painting trim and woodwork.
Typically, you should choose water-based paint for all interior walls and ceilings. The finish depends on your preferences. However, there are advantages to choosing one of the glossier finishes.
Matte is the least glossy finish. It is a dull finish that may help hide imperfections in the walls or ceilings. However, it is also one of the hardest finishes to keep clean. Crayon marks and scuff marks are difficult to wipe clean.
Eggshell, satin, and semi-gloss are more durable and easier to maintain. The glossy finishes make it easier to remove stains and marks on the wall, helping you keep your property in top shape even after the tenants move in.
Consider Updating the Exterior
After repainting the interior of the property, you may want to look at the exterior. While you may not need to repaint the entire exterior, touching up chipping paint on window shutters and other exterior structures will help refresh the property.
Repainting is a great way to makeover a property to help attract tenants. It is a fast, affordable solution that almost anyone can accomplish on their own without professional assistance. Just make sure that you select the right colors and the right type of paint.