Rental market season is just around the corner and prepping your properties for new tenants is time consuming and can be a financial burden. Striking that perfect balance between quality and budget are crucial to starting off your new landlord-tenant relationship the right way.
Learning where to pinch pennies and where to spend big bucks comes with experience. Lucky for you, Kwikset has been around for 70 years and we have a couple of tricks up our sleeves. This rental season, use our guide of money saving tips to prepare your property for tenants.
Tip 1: Re-key those door locks and deadbolts.
How many times have former tenants lost or forgotten to return keys when they move out? Knowing exactly how many keys to your property are floating around at any given time is hard. Start the rental season off on the right foot by re-keying property locks.
Upgrade to a Kwikset Key Control Deadbolt that allows owners to have one-key access control to all units and features Kwikset SmartKey re-key technology. Kwikset SmartKey protects against sophisticated forced entry techniques and allows you to easily re-key the Kwikset deadbolt lock, saving both time and money. Learn more about SmartKey re-key technology here.
Tip 2: Think Ahead and Plan Strategically.
According to realty news website Inman, the rental market is headed in a positive direction in 2016, and property management companies need to take a careful look at staffing, software and tenant needs as the rental season ramps up. Be wary of overstaffing and overbuying, but recognize that there will be a large influx of renters this season, meaning tighter tenant turnarounds.
Utilizing workers efficiently is important when managing turnaround time. By staggering move-out dates throughout the month, landlords can ensure that resources are readily available to get the maintenance jobs finished quickly and effectively. Employing in-house crews instead of third-party workers will help managers save additional time and money.
Tip 3: Do your research before updating appliances and technology.
Furnishings, appliances and trending technology are key factors that spark tenant interest, but upkeep can be expensive. Before jumping right in, do some research and plan out a way to get the biggest bang for your buck.
Planning to update your door hardware, too? Check first to make sure the deadbolts are ANSI/BHMA certified because property security is not the place to penny pinch. Luckily, there are budget-conscious, secure options out there like our key control deadbolts featuring our Kwikset SmartKey re-key technology.
Tip 4: Upgrade for a nice financial return.
Know what renters value in a multi-family home, and update your properties to reflect these values. According to the National Multifamily Housing Council, apartment firms are beginning to experiment with smart locks and smart thermostats to fit industry trends. Investing in trending styles and products, like smart home technology, translates to a nice financial return that goes right back into your pocket.
Worried about diving too far into the smart home space? There are great introductory smart home products that give tenants smart home features without breaking the bank. Our Kevo Smart Lock is a great entry-level option. The DIY smart lock connects to your phone without requiring a full home automation platform. All it takes is a few minutes to install and setup the account. Check out more information about the Kevo smart lock here.
Interested in more Kwikset tips? Check out some of our blog posts to help you prep for a successful rental season:
