You've decided to rent out your property. Congratulations! You're taking a big step towards building wealth. But before you can start collecting rental income, there are some things you need to do to get ready for your new tenant. Here are eight tips for getting your property ready for renting:
1. Replace damaged appliances.
You'll want to ensure that all appliances in your rental property are clean and in working order. This includes checking the refrigerator, stove, oven, dishwasher, faucets, washing machine, and dryer. It's important for renters to know that these things work properly before they move in.
You also want to check if any food was left behind by previous tenants—it can be an eyesore or even attract bugs or rodents if left out too long.
2. Repaint walls and ceilings.
Painting can be a good way to refresh a space and give it an updated look. It's also relatively inexpensive, so painting is something to consider if you're on a tight budget. However, before you start painting the walls or ceilings of your rental property, make sure there aren't any cracks or moisture stains that need fixing.
If there are faded colors or cracked caulking around window frames and doors, now's the time to get those repaired as well.
As far as what colors will work best in each room: try using neutral tones like gray or beige instead of bright pastels. Use darker shades sparingly—they can make rooms feel smaller than they actually are!
We also advise that you avoid picture frames or personalizing the walls with sayings (like "home sweet home"). Your future tenants will want to add their own touch.
3. Update flooring or carpeting.
If the floors are in poor condition, you'll want to replace them if possible. If this isn't in your budget, then make sure that any existing flooring is well-maintained and in good repair.
If you don't feel up to tackling this, hire someone with experience working with landlords in your area. They'll be able to tell if there's anything else wrong with your floors that could lead to bigger problems. You don't want to have to deal with an issue with mold on subfloors or water damage from leaks under sinks or toilets.
Make sure that it's been properly repaired before you get ready to re-rent your unit.
4. Deep clean, fumigate and deodorize the entire space.
You don't want your tenants to be dissatisfied with the condition of their home. You should use a steam cleaner to deep clean carpets and upholstery. Dry cleaning solutions work well on couches and chairs that have been stained by pets or kids. To rid cabinets and shelves of dirt buildup, make sure to use vinegar and water—it’s cheap yet effective!
Clean windows inside and out. Your tenants will appreciate having natural light streaming into their home through sparkling window panes. However, you want these beautiful views not only for the aesthetic, but also to help keep energy bills low by maximizing natural light during daylight hours (and minimizing artificial lighting at night).
5. Inspect and have the HVAC system serviced.
Your HVAC system is integral to the comfort of both you and your tenants. It should be in good working order at all times, especially during snow storms or heat waves. When you put a property up for rent, you don't want tenants to complain that they're freezing or too hot.
The best way to ensure that your HVAC is ready for winter? Have it serviced by an expert technician before the season begins. You'll also want to check for leaks and make sure that everything is running smoothly so you don't have any surprises once occupancy begins.
It's worth investing some extra time into ensuring that your home is properly maintained before leasing out because an HVAC repair could cost thousands of dollars—and no landlord wants unexpected expenses from their rental unit!
6. Restore curb appeal with landscaping upgrades.
If you want your property to look great, you can’t go wrong with landscaping. Landscaping is one of the most important elements for attracting renters because it gives them an idea of what they will be living in.
Choose low-maintenance plants that are easy on the eyes. No one wants to come home after a long day at work and see their neighbors constantly trimming their trees and shrubs because everything has grown out of control!
Add some decorative items like garden statues around the yard to add interest, texture, color, and character without taking up too much space. Make sure it’s cost-effective and easy to maintain (unlike vines).
Make sure that your landscaping is well maintained by hiring someone who knows how to do this professionally so all eyes will be on your property.
7. Re-key all door locks.
Re-keying or replacing the locks on your rental property is an important step in securing your home. When you rent out a unit, it's important that no unauthorized persons have access to the home. After a tenant leaves the unit make sure to either replace or rekey the locks, depending on your preferences and local codes.
Doors should have the same key so that tenants don't need multiple copies of keys for every door in their rental unit. Also, all doors should be easily accessible and easy to use; this will prevent problems with accidentally locking yourself out of one room when trying to get into another room.
Rekeying is relatively inexpensive compared to replacing keys. However, it can be costly if done incorrectly by an inexperienced worker who damages existing locks during the installation process.
8. Begin a marketing process.
Once a tenant hands in their notice, start the re-renting process immediately. Create a rental ad on Zillow, Craigslist, Trulia, and Facebook, and use social media to market your property. Consider using a combination of online and offline strategies for marketing your property. Include high-quality photos of the property and a video walkthrough.
Make sure that you also mention any features such as central air conditioning so that potential tenants know what they’re getting into before they decide if they want to rent from you or not.
A well-maintained property can attract more tenants because it shows that landlords care about their home. It is also important to pre-screen potential tenants by asking simple questions. What is their reason for moving? What do their references say about them? What kind of job do they have/job stability does this person have?
Bottom Line
Making your property ready for renting is essential to getting the best tenants. Though it may be a bit costly to renovate and make repairs, it is worth it in the long-run as you will attract tenants who will take great care of your property as well as become long-term renters.
For expert advise, KRS Property Management can help. We’re one of the most trusted property management companies in the Raleigh area. Give us a call today to have any of your property questions answered!