Rental properties are a wonderful long-term investment that creates a steady income for the property owner. Of course, like any investment, the property needs care and attention. The owner of a rental property will need to provide regular maintenance, including fresh paint. In fact, you may have several clients that require periodic painting services to ensure the ROI is viable.
As you know, a fresh layer of interior paint can quickly update a rental space which makes it more appealing to potential tenants. Using a new exterior paint can help improve the overall curb appeal of your customer’s rental property as well. The timeline for painting a rental is usually influenced by the amount of wear and tear on the property. The level of workmanship and quality of materials makes some difference in how frequently a rental will need to be painted.
Professional painters, like yourself, can provide their customers with great advice as to when their rental property is ready for new paint. Do pro painters also know the best time to purchase a painters’ public liability to keep their business fresh? If not, it’s a great idea to find out from a professional insurance agent. You’ll discover that public liability insurance will safeguard you, your employees, and your business from financial damages and legal fees associated with negligence, including property damages and personal injuries.
PublicLiability-Australia.com.au uses an online platform where you can get quick online quotes from multiple insurers straight to your inbox.
5 Benefits to New Paint on Your Rental Property
There are lots of benefits to the painter’s public liability coverage just as there are plenty of benefits to a new layer of paint.
- Renewal Incentive: Property owners may want to spruce up the rental property to keep their current tenants happy. If the renters are satisfied with how their home looks, they may decide to renew their lease for another year. Plus, tenants like how their rental looks may be more inclined to take good care of the property.
- Attract Quality Tenants: If the property isn’t currently rented, having a fresh exterior and/or interior coat of paint may attract quality tenants. Fresh paint in appealing colors will maximize the rental unit in highly competitive real estate markets.
- Condition Report: A brand new layer of paint makes it easier to discover any scuffs, holes, or other damage prior to filling out the condition report. That means both the landlord and tenant will benefit by having their rental freshly painted prior to occupancy.
- Real Estate Value: To maintain the property value, landlords need to keep the rental looking clean and welcoming. A fresh coat of paint does just that. Plus, new paint enhances the property and makes it even more appealing to potential tenants and neighbors.
- Requirements: Some rental properties may be part of a community that requires leased buildings to be maintained according to certain specs. For example, landlords might be expected to freshen up the paint between tenants or paint every three years, with no exceptions.
Painting a Rental Property: What Professional Painters Know
Professional painting crews know there are some basic steps that must be taken to get a rental property looking all shiny and new. Read on for pro tips.
- Colour scheme: pick neutral colors that give the rental space a modern, clean look that goes with all types of furnishings, linens, and other decorations. Neutral shades like grey, beige, cream, and white appeal to a broad spectrum of potential tenants.
- Clean: Before repainting walls, doors, exteriors, etc. it’s necessary to fix scuffs, holes, dents, and nicks. By doing so, the paint will have a more durable and seamless finish.
- Skip the patch-ups: Do yourself a favor and avoid doing simple patch-ups because those spots appear brighter and cleaner than the original paint.
- Finish & quality: You must get the right type of paint for space. Different paints have different durability.
- For rental properties, it’s usually a good idea to select a paint that will offer longevity and easy cleanup.
Basics of Rental Property Painting
Once a property owner decides to hire a professional painting crew, they’ll have to make other decisions too. Many landlords find the most important choice is picking the right paint finish.
Here’s a snapshot of the different paint finishes and where they should be used:
- Satin: Busy, high traffic areas of a rental need paint that’s tough and can sustain a lot of activity. Normally satin is recommended for hallways, children’s rooms, playrooms, and family rooms.
- Eggshell: This is a no-shine type of paint finish which is very forgiving when surfaces have imperfections like bumps and nicks. Selecting this finish for offices and dining rooms usually works well. Eggshell can be helpful for older properties that have walls or ceilings with lots of wear and “character”.
- Semi-gloss: Moist environments, like bathrooms and kitchens, need a good semi-gloss. It’s also useful for wall trims since it cleans up easily.
- High gloss: This dramatic finish dries shiny and reflects light. It’s perhaps the best for cleaning surfaces that get oily and sticky such as cabinets, doors, and trim.
- Flat/Matte: This finish absorbs light which makes the color look deeper and richer. However, flat/matte is not easy to clean so it’s not always a practical choice. Mostly high gloss is used in low traffic areas like adult bedrooms.
Most property owners don’t have the time or experience to provide an amazing paint job. Instead, they hire a professional painting crew that can deliver a superior result quickly. It makes sense since a landlord wants to protect their investment for the long-term. As a business owner, you should consider doing the same. That’s why looking into a painter’s public liability policy would be a good idea.