6 Tips To Prepare Your Property For Rent

Do you self manage a rental property? Are you contemplating becoming an investor?

These 6 simple steps are what every owner needs to know to prepare their property for rent.

1.       Start With The Basics

Before you can tackle the rental market, make sure your property meets the basic requirements of a good quality household. Ask your does your property have:

·         phone/internet connection

·         heating and cooling

·         security: check all doors/windows have working locks

·         privacy: curtains/curtain rods and/or blinds should be installed on all windows

·         good water pressure 

·         smoke detectors

·         no hidden dangers 

2.       Maintenance - If It’s Broken/ Fix It

We all know that if you have been living in your property for awhile then things can get neglected and we get used to living with them. Fixing minor issues now can potentially save you from spending countless dollars later. Take the time to inspect every little item in the property thoroughly.

3.       Add Value With Improvements

While you are inspecting the complete property for repairs you will surely identify areas that could be improved by updating. Things such as new carpet, fresh coat of paint, update old appliances will not only improve the overall value of the property but will also increase the rental amount achievable.

4.       Tidy Up Outside

First impressions run true in both sales and rentals, when a potential tenant approaches a rental inspection, they are immediately vetting the suitability of the property for their needs.  Pay particular attention to the following areas:

·         garden beds are free from weeds

·         trim back vines and overhanging trees

·         mow lawns and cut the edges

·         removing cobwebs from eaves

·         cleaning windows and glass doors

·         removing stains from driveway

5.       Perfect The Inside

Ideally you want to start the new tenancy with a property that is sparkling clean, this way you have set the precedent for the standard of cleanliness expected, when your tenants vacate. Unless you are a clean freak, sometimes this job should be best delegated to the professionals. The perfect inside would consist of:

·         Professionally steam clean or dry-clean carpets

·         Sparkling floorboards and tiled flooring

·         Cleaning windows and flyscreens

·         Cleaning curtains and blinds

·         Detail cleaning all interiors and furnishings

·         Emptying all trash and recycling bins

6.       Research Landlord Insurance Policies

It is not expensive (compared to the possibility of lost income) and can possibly be a tax deduction to give you peace of mind. Like any insurance, it is a safety net. Every landlord who owns an investment property has two major concerns. Firstly, that the rent is paid on time and secondly, that the property is well cared for, with no damage. Do your homework, it is important to protect your investment!!

Why not leave all this to the experts. Our team is up-to-date on all the current legislation and can assist with any of your property management inquiries.