The legal landscape and other challenges for rental property owners in the Bay Area have evolved over the many years we have been managing properties, yet our goals have remained constant. The only question is how to cost-effectively achieve them.
In our mission of maximizing rental income and increasing resale value with the least expense and hassle while improving the renter experience, a fresh coat of paint checks all of these boxes.
We know this subject is about as exciting as watching paint dry, but what can make the heart strings zing is more money, more qualified tenants, and a more enduring stay of these studious residents.
Clearly, there are many potential upgrades and renovation projects you can consider when increasing the value of your investment property while taking care of renters, but exterior painting has made the top of our list of projects that deliver the most bang for your buck.
Take a look at the before and after pictures of one building under our management. The bland look was a bit of a downer compared to the fiery, contemporary colors that fit into some of the more modern paint schemes that emblazon buildings in our area.
Investing in attraction and retention
Savvy owners know exterior housing painting not only makes a big difference aesthetically, but serves as an investment in finding and retaining the right tenants who take pride in their surroundings. The operative term is the right tenants.
The right tenant is one who takes good care of his or her rental unit, and there are certain indicators. Residents with renters insurance, for example, have generally proven to be more responsible tenants. While we all pay month after month for certain required policies like auto insurance and grumble under our breaths about the better uses we have for our money, renters insurance is optional and signals that the tenant genuinely cares about the condition of the residence and wants to make your property their home.
One of our tasks at Bay Property Group is to “paint a picture” of the most profitable tenants in it for the long haul, drive their eyeballs to the rental unit, and keep these happy campers implanted.
Painting can likewise instill a sense of well-being and belonging
When you exert a little effort to make your property look the best, happy tenants are likely to reciprocate. It also helps your property get noticed in front of prospective tenants who envision a home, and not merely a place to lay their head.
Protections against the elements, as well as insects and rodents
Without the protective layer of exterior paint, the materials of the property can be damaged. This deferred maintenance can be enlarged into bigger and more expensive problems if not addressed by painting professionals under the tutelage of Bay Property Group.
Dry rot, paint chipping and peeling, extreme cracking and breaking at the base of the building, are all tell tale signs that your investment property is a serious candidate for painting. In many properties under our portfolio, we notice signs of age in the caulking around doors and windows, ailments which can be addressed by a painting professional under our guidance.
Who to hire
Inexperience frequently leads to delays, expensive results and poor workmanship, but Bay Property Group has reputable painters on standby who can get the job done right, with minimal hassle, cost and disruption. Whether you want to give the exterior of your rental property a makeover, are looking to refresh your hallways, or revitalize the building inside and out, Bay Property Group can take the guesswork out of the equation and help color your success in your real estate business.