Prepare Your Rental Property for the Rental Market with These Steps
Command top rent for your rental properties and fill vacancies faster with quality tenants using these four tips.
Use these tips to prepare your rental property to attract quality tenants, maximize monthly rent and minimize vacancies. Now that you have purchased an investment property, it’s time to get your North Carolina rental home in move-in ready condition. This is an important step that should not be overlooked before advertising and marketing your property.
Landlords who present a well-maintained, clean rental property with functioning systems and working appliances to the rental market are more likely to command top rent and quickly fill vacancies with quality tenants who will take care of their rental unit. Implement the following steps to prepare your rental property for a competitive rental market.
Enhance Your Rental Property Curb Appeal
Landlords may not think of landscaping when the term “move-in ready” comes to mind. The outside of your rental home, however, sets the stage for what a potential tenant can expect to see inside the home. An overgrown lawn with shrubs that need to be trimmed gives individuals a wrong impression of both the rental property and the landlord.
Hire someone to cut the grass, trim the shrubs, blow away any debris (limbs, leaves, etc.), and clean the gutters and roof. If you want to add a little color with some fresh plantings, new flowers are always a good idea. However, be careful not to spend so much that it diminishes your ROI. For rental purposes, presenting a fresh, clean yard is good enough for creating a good first impression.
Give Rental Property a Professional Cleaning
Before cleaning your rental unit, make sure to remove any items left behind by the previous owner or tenants. Next, hire a professional cleaning service to give the interior a “top-to-bottom” cleaning. From bathrooms and baseboards to kitchens, ceiling fans and appliances, make sure every inch of the home is cleaned thoroughly.
After the walls have been cleaned, determine whether or not it is necessary to give them a fresh coat of paint. Because this is the first time you have put this rental home on the market, it is probably a good idea to give the home a fresh coat of paint. Once the painting is complete, hire a professional carpet cleaning company to dry clean or steam clean the carpet.
Prepare Rental Property with Necessary Repairs
Understanding which repairs are necessary starts by creating a list of important items which should be inspected. Inexperienced landlords can benefit greatly from the expertise of a North Carolina property management company when it comes to move-in ready repairs. Not only do experienced property managers have relationships with quality, professional vendors including contractors, plumbers, and exterminators, they can also help landlords prioritize rental repairs to save money without cutting corners.
Here is a list of items to inspect when preparing your rental property for the rental market. Your move-in ready repair inspections should include:
- Exterior (Siding, Roofing, Patios, Decks, Railings, Etc.)
- Doors and Hardware (Latches and Locks)
- Windows and Hardware (Locks and Lifts)
- Window Screens
- Plumbing / Electrical / Heating and Air Conditioning
- Toilets, Tubs and Showers
- Cabinet Doors, Drawers and Hardware
- Walls and Ceilings
- Closets and Hardware
- Steps and Stairs
Rental Property Maintenance Tasks
Now that you’ve knocked out your primary rental repair list don’t forget to take care of the smaller maintenance tasks. Put new batteries in smoke detectors and carbon monoxide detectors and test each one to ensure they are functioning properly. Replace old air filters and burned out light bulbs and re-key all the locks in your rental property. Call a professional pest control company to give your property a full treatment and start quarterly pest control service. Take care of any other maintenance tasks to get your property in move-in condition.
As you can see, taking the necessary steps to purchase profitable rental properties is only one part of a successful rental real estate investing equation. Landlords must also prepare the rental property for the rental market to command top rent and attract the best tenants. If you are looking for a North Carolina property management team to improve your bottom line, do not hesitate to contact the experts at Red Door Company.