When it comes to optimizing the return on investment for your Chicago rental property, it is important for landlords to highlight all the advantages of each unit and make them appear as enticing as possible. However, some rental properties will inevitably present challenges for attracting prospective renters.
For instance, it can be difficult to entice high-quality occupants when you have an investment property that features small rooms or tight spaces. Tenants typically want large and open spaces in their rental units, even if that entails more upkeep. In many cases, it is not worth the investment of time and resources to significantly change the floorplan or restructure the interior of a rental property to create space.
So, if you have a rental property that you worry is too small to draw potential occupants, the remedy is to find ways to make the interior space appear as bright and open as possible.
Consider the following five tips to make your rental unit look larger.
Light Colored Walls
When interior spaces do not receive enough natural light, it can create the illusion that they are even smaller than their actual size. The lighter a room is, the larger it will feel to those occupying the space.
So, highlight the amount of sunlight that each room in your rental property gets by painting the walls a light color. Light paint colors will serve to reflect the natural light in the room, as well as enhancing any interior lighting. As with all investment properties, the color you choose should be stylistically unobtrusive and versatile (ie. light gray). This will allow tenants to shape the style of the space to their own interior design preferences.
Focus on the Fixtures
Dim interior lighting can call attention to the fact that an interior space is smaller than is ideal. Be sure that your fixtures and lightbulbs are all adequately cleaned, so that the inside of your property is receiving all the illumination that they offer.
The light bulb coverings on ceiling fans will collect dust, grime, and dead bugs over time. Beyond contributing to a dim interior lighting, the sight of uncleaned fixtures is likely to repel any prospective high-quality renters.
We also highly recommend swapping out the standard soft white bulbs for daylight bulbs. This will eliminate a yellowish tint throughout the unit and create an abundance of clear, bright, and vibrant light.
Clean your fixtures and bulbs to help ensure that your property looks as bright and vibrant as possible.
Lighten Up Furniture and Decorations
If your Chicago rental property features furniture at the time that you are showing it, be sure that the furniture is as brightly colored as possible to enhance the appearance of openness. Even placing a light-colored slipcover on a dark couch or laying down a vibrant floor rug will help to make the space look as large as it can.
Also, hang bright pieces of art in order to reflect the natural and interior light that is already present in the space. Include a few mirrors across from windows or interior lights to provide a feeling of greater breadth and depth in a small room.
Increase the Number of Reflective Surfaces
In the same way that mirrors reflect the light that is already present in an interior space, all reflective surfaces will make a small rental property look larger. For instance, wooden floors that have been thoroughly polished will provide additional reflection.
Likewise, walls painted with eggshell finishes will reflect more light than those painted with matte finishes. Appliances that feature chrome surfaces are also highly reflective.
Layered Interior Lighting
While many of these strategies rely on reflecting the available natural light, it is also important to provide adequate interior light. Include multiple sources of interior lighting. This will help provide the feeling of depth to make a small room seem larger. Use a variety of types of lighting, such as ceiling fixtures, spotlighting, or pendant lamps.
Layered interior lighting allows the tenant to have greater control of the lighting scheme. It can also be used to highlight potential uses for interior spaces, such as reading corners or breakfast nooks.
ONE LAST BONUS TIP! Try to schedule showings while the sun is out and make sure that all of the shades/blinds are all the way open. It’s simple, it’s free, and it takes two minutes to run through the property and open everything up.
Through a combination of some or all of these tips, you’ll be on the right path to maximizing the potential rent amount for your rental property. If you have any questions, feel free to reach out to us at the information below.
Contact Landmark Property Management online or call today at 312-313-8553 for expert property management services.