Making thousands out of short-term rentals is never so easy in Cape Cod. Tenant turnover here is an inevitable part of being in the real estate business. You have to put some efforts before looking for a new buyer, tenant or mortgagor. Make your house exterior and interior that much beautiful that it gives you a long-term maximum rental profit. It’s the house paint color selection choice that will give a brief idea of the way you organize and maintain your property.
Beyond doubt, property maintenance requires a ton of work to make it functional and look attractive at the same time. Therefore, before new tenants move in, you have to ensure that property looks completely new and a winning property. Painting a rental property is one of the cheapest ways to let tenants never say you bye. Majority of the landholders prefer neutral colors like gray, or white. This might be because they feel it helps them balance the confined space- which is more or less right. Nevertheless, homeowners also bring a warm feeling combined with a modern touch with the help of professional painters serving in Cape Cod.
However, not all tenants go for the neutral colors. Color selection choice would be different for every new tenant. For case in point, some may want the accent wall to be beautifully painted, while others might want to add some dark color to their living space to make it a little bit cozy and confined. They might ask you to let them paint the house with their own color choices.
So, the question arises what color should I paint to my rental property? Should I allow tenants to paint my property? Who is responsible for painting, landlord or tenant? What are the tenant’s rights in this regard?
Do not stress it!
You’ll get the answer to all these questions with some pros and cons of allowing your tenants to paint your property.
Pros of Allowing the Tenants to Paint
Whether it’s a single accent color wall, child bedroom or guest room, there are many reasons to let your tenant paint the rental property of their own preferences.
#1 Reason – You’ll Have the Happy Tenants
A good landlord-tenant relationship is a prerequisite of every real estate business. Giving your renters a choice of creating a space of their own will make them more comfortable. Because, happiest tenants are the one who can liven up their house with their own best paint color options. It should be your top priority because they are the one who will provide you the business. If they are happy and satisfied, they stick around for much longer and are always ready to co-operate with you.
#2 Reason – Small Incentive to Good Tenants
We live in a community of people who share thoughts, ideas, and feelings of their loved ones with each other. If you find a good tenant with great thoughts, you can give them authority of changing the previous colored walls or rooms. It would be the best way to give a short incentive to your tenants and ultimately making them happy. Happier they are, the longer they will stay on your property. Other perks of giving this small permit include low turnover costs for you and save you from the hassle of advertising, searching or screening new tenants.
#3 Reason – Possibility of Attracting Quality Tenants
Maximum landlords don’t allow the tenants to paint their condos. If you will allow them to paint, you can attract quality tenants. They will find your property highly valued. Apart from this, you can also offer them a paint brands or palette of approved colors to make a choice. It’s one time-investment per tenant but will give you high profit in the long term if you really succeed in attracting the potential customers.
#4 Reason – Giving Tenants’ Own Home Comfort
Tenants usually wish to have such a beautiful home like you have. But they are not financially able to make the home dream come true – still – they can live a dream only if you give them this feeling of ownership by allowing them to paint your home. Believe it or not, they will treat your rental space with care and affection than you have done.
#5 Reason – Allows You to Demand for Higher Rent
This is your ultimate reason to make a win-win situation for you and your tenants and get the right tenants at your doorstep. Obviously, you are making these all efforts to generate the maximum return on investment within the short-expected time. If you are gaining the higher profits, you can allow the tenants to personalize a space of their own.
Without due diligence, non-official proceedings to let the tenants paint your home can be a huge disadvantage to you. Therefore, it is mandatory to put everything in writing. Sign a landlord painting agreement between you and your tenant to secure your property ownership and avoid any conflict. Otherwise, you can face unwanted circumstances.
Cons of Permitting Tenants to Paint Your Property
More Work After Tenant Leaves the Home: Whether tenants live for days, months or years, the property condition is affected. If they left your property, you are left with more work. It happens because new color requires to be primed first and then painted over to match original neutral paint once more. Hence, it would mean more work for you when the lease term ends.
Non-Experienced and Careless Tenants: Painting is not like walking in the park. It’s a matter of certified and experienced painters in Cape Cod. It demands some care and experience to do a professional-looking job. And tenants do not have that expertise. Therefore, to cover the damage that has been made to your property, you need to hire the painting experts of your town.
Why?
- Tenants do not know how to cover the accidental paint spills.
- Tenants can paint the outlet covers and trim.
- Tenants can create the roller bumps on the ceilings and accent walls.
- Tenants may hire non-experienced painters to minimize the exterior and interior house painting cost.
How to Avoid This?
Every problem comes with a solution itself. You can also manage these pitfalls by setting in some rules to protect your property. Insist the tenants for top-quality work because a bad paint job will cost you double to once apply and then reapply to rectify the shortcomings. Allow only those tenants who are willing to live for a long time and ask them to deposit prior to painting. You can specify the areas the tenants can and can’t paint. And at last, make things easy for you and them by asking them to paint back the original color before they move out.
For any professional house exterior or interior painting in a competitive budget, you can contact us at (774) 327-9118.