If you’re looking to turn your property into a lucrative investment. There are a few steps you need to take to get yourself to that point. As, importantly, rental homes have several key differences to a normal property in which an owner may live.
With this in mind, we at MN Property Nerds have put together the following article that will show you the steps you need to take to get your property rent ready.
If you want to save on maintenance expenses, it’s best to quickly advertise both online and offline about your vacancy. Additionally, you should post on popular social media platforms and spread the word to your personal and business network.
Given that ads with photos generate much more positive attention, you should certainly include attractive photos that capture the features of your rental unit. Finally, you should craft interesting property descriptions to match your appealing pictures.
With an occupied rental home, you usually have very little time to inspect or maintain the unit in detail but when it is empty, you can evaluate each part of the property thoroughly. Should you find any damaged appliances, you should arrange for specialists to fix and maintain them.
Here are some extra steps that you should take regarding the condition of your property:
No matter if this tenant is your first or you are inspecting between tenants, you must ensure to fully inspect your property to get an idea of what it is currently like compared to your expectations.
If you find damages, you can make a list that contains the estimated charges for repairs so the previous tenant can understand why the security deposit was deducted.
Also, if this is your first tenant, it gives you the opportunity to create a list and photograph the property prior to the tenant’s entry. Giving you perspective on the property’s condition when they leave.
If the tenant has left a reasonably tidy rental unit, doing the cleanup on your own is acceptable. But, if you were to hire a property management company to handle the cleaning, they can use their connections to ensure your property is cleaned professionally.
The advantage of using professional cleaners is their deep cleaning skills. They also have access to specialist cleaning equipment that can leave a hard-to-reach area of the house spotless.In addition, they have quality cleaning products that leave your unit with a clean smell when the clean-up process is done. Also, if this is your first tenant, having the property professionally cleaned will go a long way to establishing a great landlord-tenant relationship.
To ensure that your renters are protected from trespassers, it’s a vital task for landlords to change the keys and purchase new locks every time a new tenant occupies the property. Prioritize this step as it can be a serious security issue.
To make this step easier, you can also decide to install electronic locks so you’ll only need to come up with new passwords every time a renter moves out.
Rental renovations can help increase your rental income. So, when your unit is empty, it’s a great time to perform any upgrades. When your unit is occupied, it may have caused inconvenience to conduct property updates so you shelved your renovation plans.
Property updates are easy and much faster to execute for contractors when the house is empty since they don’t have to adjust to the schedule of the residents. Here are some recommendations for improvement projects:
The appearance of mold can make new tenants reconsider and leave a new rental home. Arrange for mold remediation so renters will stay longer on your property. Moisture is the cause of mold and its presence can also create an unhealthy environment.
Strive to keep a mold-free rental and do regular inspections in areas where water moisture is prevalent such as bathrooms, kitchens, and laundry areas.
The presence of a pest infestation can be very discouraging for renters. This should be addressed as no one wants to live in a rental place where termites, rodents, and bed bugs are found. This can make your property inhabitable. To fix this, you can do the following:
Getting your property ready for tenants is a significant responsibility, involving many different tasks. But to ensure that you’re presenting a livable space and adding value to your property, this is an essential step.
Tenants are also happier when they see that the unit is clean, pest-free, mold-free, and secure. An outstanding rental home also instills in them the need to treat the property well and perform reasonable care.
If your time is limited, you can always get in touch with a reputable property manager. MN Property Nerds can provide a full suite of property management services in addition to getting your property rent ready.
We offer strategic marketing, extensive tenant screening, prompt rent collection, and regular property maintenance, among others. Call us today at (612) 315 6118!