Preparing your property for renting out

Preparing Your Property For Renting Out – Where to Start

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Sarah Boyle

Preparing your property for renting out can be a confusing process. For investors buying properties specifically to put them on the market, trying to track and mark out every detail that needs to be altered for the market is difficult without any prior intimate knowledge of the home. Conversely, for those that have been living in their property but are now taking steps to find renters, making alterations and looking at your home with a critical, analytical eye can be a stressful emotional experience.

So, no matter where you’re starting from, it’s important that you have a plan going into the property preparation process. That’s what we’re here to help with today. So, without further adieu, let’s take the first steps into preparing your property for renting!

 

Fix What Needs to Be Fixed

For homes that were built more than a few years ago, degradation and faults are inevitably going to arise. Whether that means leaking pipes from decades of wear, or a hole in the wall that was haphazardly patched up after an unforeseen furnishing slip-up, these are things that will need to be fixed prior to renters moving in.

Think about the space that you will be leaving behind for new occupants to reside in. If one of the selling points in your property description is “comes with built-in washer & dryer”, for example, then ensuring that these machines are in perfect working order is essential.

The first impression that prospective renters have of your property is important, but so too are the factors that aren’t immediately noticeable. People viewing the home in the daytime may not immediately notice that the kitchen light switch is non-operational, but if you’re looking to have a positive relationship with tenants in the future, these are things that should be dealt with long before they pick up the keys.

 

Cover the Basics

Once the foundations have all been dealt with, it’s time to get into the other little essentials that will draw in potential renters. When going into this step, try to put yourself in the shoes of someone viewing your property for the first time. Think about all of the things that you would want out of a home like this, and do your best, within reason, to provide them.

For example:

  • Does your property have a reliable internet/phone connection?
  • What security measures does your property offer? It is recommended that locks are changed with each new tenant, so keep this in mind.
  • Are the heating/cooling systems offered by your property adequate?
  • What privacy does your property offer? At a minimum, curtains/blinds should be installed on each window, with the addition of screens/fencing where necessary.
  • Are your smoke detectors up to standard?
  • How is the water pressure throughout your property?

Asking yourself questions like these will help you to form a checklist of things that need to be improved or worked on when preparing your property for renting. Once you’ve made sure that your property is as liveable as possible, it’s time to start making it appealing for prospective tenants.

 

Go Above and Beyond With Cleaning

Especially for those that have been living in their property prior to putting it on the rental market, the cleanliness standards of those viewing your property will likely be higher than you’d initially expect. Anything less than sparkling, shimmering perfection can be offputting to some viewers, and to ensure you’re getting the most interest, it’s best to go all out.

If you have the budget for it, a professional clean is often the preferred choice. However, if you’re taking on cleaning duties alone, there are a few things that you should do to ensure immediate appeal.

These include:

  • Steam/dry cleaning all carpets to ensure that they are spotless and free of stains.
  • Polishing tiles and floorboards for optimal shine.
  • Scrubbing curtains, blinds, flyscreens and windows to keep your spaces feeling light and fresh.
  • A thorough clean of all furnishings and interiors.
  • Tidying up the facade of your home and removing any possible external wear and tear. This includes everything from filled gutters to cobwebs.

Remember that a potential renter visiting your property for the first time is not going to have the same familiarity with the space as you do. So, small issues that you may have gotten used to over time can seem like much larger problems in the 15 minutes they have to inspect and make judgements.

There are always going to be more things you can do when preparing your property for renting out. However, hopefully, these tips have helped you think about what you can do to appeal to new renters. For even more assistance with the rental process, contact My Rental today and speak with one of our experienced property managers in Melbourne about what we can do to assist you in your journey as a landlord.