Essential tips to getting your house ready for immediate renting
People own their own rental properties for different reasons. Some invest in residential property with the goal of renting it out for profit. Some may simply inherit family property. Then there are those who work towards building a property empire. Whatever your reason may be for possessing a residential property, getting it ready for tenant occupancy is an art of its own. And if you get things in the right working order, nothing could be easier. However, the key is to know what to do while you are getting your home rental property in order. Read our essential guide for landlords to ensure a hassle-free renting experience.
Are you really up for renting out your property?
It is advisable that you start getting things in order at least five to six weeks before renting your home out. There are many things you need to do, including the paperwork, background research, and repair works. It’s important not to leave the decoration and repair of your rental property to the last minute. Even if they are just minor decorations, with last-minute activities, you are always running the risk of making things harder on yourself. When you’re a landlord, it is incumbent upon you to do the extra research to get a clear-cut picture of everything involved. You may start off with landmark legislation that can lay bare the niceties of your legal responsibilities as a landlord.
Finding the right tenant for your property
If you are new to property renting, then you should be ready to spend some additional time on finding the right tenant. If finding reliable agents was difficult, wait till you look for a tenant to occupy your rental property. The best way to spot good agents is by asking landlords for their personal recommendation. You’re most welcome to do some background research while you are at it. It is absolutely vital that you rope in the best agent as they will be in total charge of everything from finding potential tenants to settling the rental agreement and advertising your property. You could tap into Snippie, your one-stop destination to promote the property at your convenience.
“It’s not just about renting out your home.”
Whether or not a home-seeker will choose your property depends on various factors. However, you should know what kind of tenant you are renting to. Do you have a couple in mind? Maybe you’d like to see a family with young kids moving into your rental property. You may even have fixed rules for smokers and pets? You should certainly share your thoughts and concerns with your agent and potential tenants. The best way to find out if a tenant is right for you is by communicating your ideas and clearing the air before contract signing.
Giving your property a much-needed facelift
Nobody in their right mind would want to settle down in some shabby place, let alone your potential tenants. As a landlord, the first thing to do is to make sure your property does not look like a place of neglect. Besides, tenants will most likely want to give their personal touch to new homes. What’s important is that you take necessary measures to discount any chances of tenants taking the task of renovation into their own hands. You should give your property a universal makeover so that it appears appealing to a broader audience. Paint your walls and ceiling with matching colour schemes. You should keep things furnished, and dispense with anything that looks unsightly in the grand scheme of things.
“Know what you are doing.”
Your agent should take care of the legal aspects of the deal, but you are nevertheless expected to understand the ins and outs. It is mandatory that you remain privy to inner workings of the standard procedures. Also, it’s just as important for you to be up to speed on the responsibilities of landlords.
Are you keeping tabs on the tax laws that could have a bearing on your business at any point in time? You should subscribe to online updates on the subject matter, and make concerted efforts to stay on top of things.
Keeping your property clean
The last thing you need is seeing a potential tenant get put off by the untidiness of your property. It’s your duty to keep your property clean. It’s recommended that you get professional cleaners’ help to keep things in order. Hiring cleaners may appear a bit needless on the surface, but it will surely yield great outcome for you in the long run. When a new tenant finds your property in clean condition, they will feel obliged to maintain the same standards during their occupancy. As far as a landlord is concerned, it’s like killing two birds with a single stone.
Create an easy-to-follow manual
Keeping a well-structured manual for tenants will spare you the trouble of answering unnecessary phone calls at ungodly hours. Provide your renter with straightforward instructions to address different types of domestic requirements that may arise day to day. Make a point of leaving everyday essentials in easy to spot places, so that it’s convenient for a renter to locate them.
If you find that your property is finally ready for renting, feel free to register with Snippie so we can effectively promote your property and generating you that regular income.