Reno-Sparks is a great area in which to own a rental property. With University of Nevada, Reno here and so many businesses moving to the area, the need for long-term rentals is growing. If you are considering purchasing an investment property, please reach out. We've assisted many homeowners purchase single family homes, multi-family properties and condos for investment purchases.
To increase your odds for finding the perfect tenant, these features may help your rental property stand out from the crowd.
Location. A property with easy access to UNR will appeal to more college students and a single family home in an Eastern Sparks neighborhood may appeal to a family who has just relocated to the area for a job at one of the many businesses at the Tahoe-Reno Industrial Center.
Move-In Ready Condition. A super-clean home with fresh paint, and clean flooring will have much wider appeal than a home that needs even minor repairs.
Add Curb Appeal. Make sure the property shows well from the street. A clean yard, clear driveway and walkways, updated and functioning porch lights, and a welcome mat can make a big difference for potential renters who may drive by.
Upgrades. Stainless steel appliances, quality laminate or tile flooring, updated lights and new faucets can attract tenants who are willing to pay a little more.
Outdoor Space. Even if all you have to work with is a small patio, make sure the outdoor space shines. The space should be clean with easy access and working lights.
Appliances. Tenants likely don't want to move or purchase new washers, dryers, and refrigerators. New appliances are especially appreciated since they will be less likely to break down.
Consider Staging. You may not want to invest in staging the entire property, but strategically staging certain areas, like the back patio with a couple patio chairs or the bathroom with hand towels can make a property feel more like home for potential tenants.
If you are planning to purchase an investment property, we would love to speak with you. There are so many wonderful neighborhoods in Northern Nevada that are excellent choices and we will be happy to assist you however we can.