indepth

Intense competition — how to win tenants

There is no one-size-fits-all answer on whether or not you should renovate your house. Reapfield Properties (SJ) Sdn Bhd senior real estate negotiator Carmen Lee opined that the mindset of landlords should be to beat their competitors, instead of renovating for the purpose of renovating.

“I would suggest only providing basic fittings such as kitchen cabinets. The work would be wasted if the [extensive] renovation and furnishing do not make your unit stand out from others,” she said during EdgeProp.my’s virtual Fireside Chat entitled “How to avoid tenants from hell”, held on December 7, 2020.

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Other than furniture or interior fittings, a simple way to give a fresh look to the unit is to apply a new coating for the property. Lee added that choosing a good paint with special features such as antiviral paint could also help to attract tenants.

She believes that houses with antiviral walls would be especially appealing to households with older persons or young kids, as well as places like kindergartens.

Reapfield Properties (HQ) Sdn Bhd senior real estate negotiator Joyce Perera believed that renovation and full furnishing could be considered for smaller units, as potential tenants for this segment usually prefer ready-to-move-in units.

Meanwhile, the larger units would do better without too much furniture and fittings, she added.

She added that considering that there might be wear and tear in the unit and furniture, it is best to not put your most expensive sofa in the unit to be rented out.

Reapfield Properties (Puchong) Sdn Bhd probationary estate agent Roslan Shapri said that while furnished single-bedroom units and penthouses might attract tenants, for landed, it is best to leave the option to tenants.

“Furthermore, it also depends on which type of tenants you are targeting and which area the house is in. For example, you could hardly find someone who wants to rent a fully-furnished unit in Sepang,” he highlighted.

This story first appeared in the EdgeProp.my e-Pub on Dec 11, 2020. You can access back issues here.

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