Do you wait for your property’s value to rise before selling it? Perhaps you’re keeping it for retirement. No matter what your situation, renting your investment property can be a lucrative option. If you are able to optimize and manage your rental income. This article will explain how to prepare your property for rental.
Before you market your property to the local rental market, it is important that you do thorough research on property management. This is because quality tenants will be attracted to your property if it has all the amenities and features that you want.
These property management steps will help you prepare your investment property to rent. A property manager can be hired to assist you.
These are the steps Ray White Smithfield has put together to help you prepare your investment property for rental.
Curb Appeal Always Counts
Your investment property’s curb appeal is the best place to prepare it for rent. This is especially true since potential tenants will judge your property based on its exterior appearance.
It is important to remember that the first impression is everything, especially when it comes to deciding where you want to live. Make sure you give your potential tenants a great first impression of your property. Your potential tenants will be more likely to arrange an inspection of your property. Give them reasons for excitement about your investment property. Your property’s best curb appeal can make them happy and tap into their emotions.
Start with landscaping
Do you manage to rent out a single family home? Perhaps it is a larger building with lots of outdoor space. You as a landlord need to pay attention to your garden and grass. It should be kept mowed and healthy. Make sure that bushes and trees are properly trimmed and pruned.
Take out all trash and debris
Your home and outdoor space must be clean. Take out any junk or trash and clean up the area. When you list a property, clean up all debris. Make sure your property’s walkway and front door are clear and easily visible.
Walk the Wall
This is a process professionals use to evaluate your investment property and prepare it for the rental market. This is where you enter the investment property from the front and then look around.
You should not be able to see any spider webs or debris as you stand at the entranceway. You should also not see any insects trying to hide. It is best to hire a pest management company if you notice unwanted pests while preparing your property to be rented.
Before you begin looking around, make sure the paint is clean and the carpets are fresh. Then, you will walk along the wall. Start from the right, or the left. Follow the walls throughout the property until the circle is complete and you return to the front door.
This allows you to inspect every inch of your apartment or home.
Create a list of maintenance repairs
Next, you should make a list all the things that you have noticed during the previous step. You might find that the air filter is clogged with dust or that the safety switch is broken. As you go around the walls, keep a list so you can quickly track any items that require attention.
It is a great way to compare before and after photos.
Consolidate rental maintenance repairs
You should reduce the time it takes to arrange your rental property. You can reduce the time it takes to hire contractors and do repairs quickly so you can rent your property faster.
Repairs by you
Take your list to the store and get everything you need. Only do the repairs yourself if you are skilled in them.
What Needs to Be Changed
Are you dealing with an old fridge or air conditioner that keeps breaking down? Do not spend more on repairs. Instead, purchase a new appliance. You can save money by replacing appliances that are inoperable with new products.
Many items you purchase for your rental property are tax-deductible. This means that they will reduce your taxable income at year’s end.
You’ll also have a brand new appliance to appeal to potential tenants who visit your property and view your listing. You should inspect each light system, water efficiency and light fittings.
Make sure it is available for tenants to inspect. Walking the wall will help you spot any minor issues. It is not a good idea to call your landlord within the first 30 day to fix something you could have done before your tenants arrived.
You also want to decrease the vacancy time of your rental property. This is why you should be proactive in making repairs to your property, such as replacing light fittings and improving water efficiency.
Always be cautious as a landlord. This will keep your tenants happy, before they move in and it will also help you to maintain a good relationship with them throughout their tenancy.
When you rent your real estate property, cleaning is essential. When you walk the walls, it must be spotless and free from dust and debris. You don’t want any stains on the carpet, the blinds, or the floor.
A cleaning company can be hired to clean the whole house. They will remove the appliances from the wall and clean behind them. It is amazing how much dust and crumbs can accumulate around these appliances.
While the initial cleaning is important, you should also clean up afterward. Additional cleaning is required when there are repair workers visiting the property. It will be more difficult to rent your property at top dollar if you don’t pay attention to cleaning.
Good tenants will not be keen to move into someone else’s house.
This article showed you How to Prepare Your Property for Rent. If you have any other questions please reach out to Ray White Smithfield on the details below: