It takes more than simply moving out and posting a for lease sign outside your house to get it ready for other people to rent.
Before allowing people to pay for the pleasure of residing in your castle, you need to think about a few things.
In addition to attracting a better renter and generating a higher weekly rent, a well-prepared property will also make the whole renting process easier from beginning to end.
A tenant wouldn’t—and shouldn’t—have to put up with certain problems that an owner would be content to live with since they know they can be addressed in time.
Additionally, there are various changes that might improve the charm and distinction of your house and perhaps increase the rental price.
Here is our list of things to think about before renting out your house.
Fix it if it’s broken
Make any necessary repairs to keep your house in great shape, from the mailbox to the back fence and everything in between.
This also holds true for little issues like moldy bathroom grout, leaky faucets, leaking washers, chipped paint, or damaged tiles that you’ve simply been used to dealing with. A little fix or upkeep today might prevent a more serious issue later on.
Think about supplying certain appliances and white goods
Consider the items you want to leave behind or allow the renters to use, and make sure they are in excellent operating order. For example, a dishwasher may add value to your kitchen, so it’s always better to include one if there is room for one.
However, make sure it’s in excellent functioning order and won’t need more time and money in the event that it fails.
Or, rather than expecting a renter to purchase their own washing machine, you could be better off leaving your laundry in place if it has a certain form for one.
The whole property should be thoroughly cleaned
Set a high beginning standard because you want your property returned to you in excellent shape.
Make sure your property is gleaming and give it a thorough spring cleaning before renting it out, just as you would if you were selling.
Don’t simply perform the bare minimum; we’re talking about a thorough spring cleaning that includes:
- Blinds
- Curtains
- Carpets
- Windows
- Flyscreens
- Trash cans
- Garages, and more
Remember the outside
Does the mailbox need maintenance? Do the gutters seem clean? Does the fence look good? Is the patio furniture in good condition? Do you have to deal with any insects or pests? Additionally, be sure to mow, sweep, rake, prune, and maintain the garden’s impeccable appearance.
Make your house seem as good as it can
Similar to potential purchasers, prospective renters will be more drawn to a home that is displayed nicely.
Therefore, even if you may not want to hire stylists to come in, make sure you do your hardest to make the property appear fantastic for the pictures and presentable for any showings.
You’ll be shocked at how much of a difference well-taken photos make in the caliber of potential renters the property draws.
Upgrades that add value
A home may be updated at a low cost with new paint, flooring, and light fixtures. Reverse cycle air conditioning is one kind of cooling that may increase a rental property’s value.
If the existing kitchen or bathroom is really obsolete, you can also replace it, but you’ll need to determine how long it will take to recover the original investment and do your own cost-benefit analysis.
The best person to provide you advice on your specific circumstance is your property manager or agent.
Revisit your policy
You must set up landlord’s insurance and notify your insurance provider that you are leaving the area.
It’s likely that your renter will want contents insurance, and many businesses have standards for door and window locks.
Verify that you fulfill all the requirements and minimal criteria.
Consider if any features of your property may not adhere to the most recent safety standards or requirements. Pool fences, staircases, railings, balconies, blinds and curtains, windows, and glass are a few examples of this.
Does the home adhere to the Residential Tenancies Act’s water and electricity efficiency requirements in your area?
Additionally, smoke detectors must be provided by landlords. Consult your property management or real estate agent about the laws that apply to your property.
Selecting a competent property manager or real estate agent to handle the negotiations, relieve your burdens, and use their experience will undoubtedly make the whole renting process simpler.
