7 Steps on How to Prep a Home For Rent
The rental market is becoming increasingly competitive, wise property managers tend to keep their units modern and fresh which helps in attracting prospective leaseholders. One of the most important steps in managing and operating investment properties is to ensure quality of the building’s structure. Good property managers would prepare their rental properties by following these 7 Steps on How To Prep a Home For Rent.
1. Maintain a Paper Trail
The most important step in Prepping a Home for Rent is Documentation. Documentation is everything! It is the only tangible proof of keeping properties in optimum condition. Always make sure to document the time resources spent on the investor’s properties. This allows the manager to materialize proof in order to withhold security deposits in the case of tenant damages. This also allows the manager to keep the property owners informed on their properties as well as attract prospective leaseholders.
2. Fix the Unbreakable
No one finds broken handles or outdated fixtures to be attractive. Not only do improper or broken fixtures serve no purpose but they also makes a property unit look unkempt which can and will deter potential renters looking for a new home. Make sure to fix all broken light switch plates and replace all the nonfunctional bulbs. Even the minutest of details can make or break a deal. You would especially want to make sure that all the little things are done if you want to get top rental price dollar for your property.
3. Secure the Property
Tenant safety should always be prioritized by the property manager. A property manager is responsible for more than just maintaining the properties of their clients. Make sure to switch all the exterior locks and change codes to the mailbox and keys to ensure the privacy of the new leaseholder. A caring property manager is good for business, as it’s the responsibility of the property manager to make sure all involved parties are content with their current situation. In some instances, security system have been installed in rental homes for tenant and investor protection. It's a small cost in comparison to vandalism, theft or damage.
4. Examine all Appliances
What’s the point of offering a fully equipped home when a some of the appliances break down ? Ensure all appliances such as washing machines, stoves and dish washers are in working order. Monitor temperatures on freezers and refrigerators for food safety. And additionally, test ceiling fans and clean the debris or dust from the blades before showing the house.
A lot of times rental units don’t require any major repairs or maintenance and a good scrubbing is all that is needed to return the home to its former glory. Some managers prefer to change out carpeting between leases. Although, it can prove to be a bit costly but it ensures the freshness for a new occupant. When new flooring isn’t a possibility, a heavy duty carpet shampoo machine will eliminate any prior stains. As property managers, getting discounted rates for extensive and professional cleaning services is quite easy. Sometimes all you need for a stubborn property is a good scrubbing and maybe some fresh coating on the walls. Manifest the power of cleanliness and its illusionistic effects, after all, all we want is to maintain an illusion we’ve created around our lives.
6. Unleash the Exterminator
This is probably one of the most important steps that must be undertaken before any potential leaseholders are courted. Get an exterminator and have all the unwelcomed creepy crawlies exterminated. Not only is it sanitary to hire a professional exterminator but it will also minimize any future costly repairs due to pest damage.
7. Landscape the Inhabitable
Nothing attracts potential renters more than fresh curb appeal and proper landscaping. Make sure to discard old flower pots and eliminate the growth of weeds. All the damaged walkways should be repaved and repair any damaged gutters. The exterior condition of the home is just as important as the interior.
We’ve just scratched the surface with these few tips. Property management is a full-time job, hence the industry. If all the extra work along with your primary occupation begins to overwhelm you, you can always opt for a property manager to take care of all your investment properties. If you’re wondering how to select a good property manager, you can always refer to our blog for more valuable insights into property investments and management.