About To Rent Your House Out? Things You Should Do Before You Let It Out
As a landlord you want your new tenant to be impressed by the house they are just about to move into. Since the house has been rented out to someone else, there may be a few touch ups to be done before a new tenant comes in. The prospect of making that extra money is exciting and may spur you into action getting the place ready. The problem comes when you think of what to start with.
After the old tenant moves out, take the time to go through the house noting everything that doesn’t seem in place. It’s a sure way to get an idea as to what needs fixing and replacing. When the new tenant comes and finds the house looking like it has been sitting there ready for them to move in then half the convincing is already done.
Careful considerations will help you save money as well as protect your investment.
Here are a few tips that should come in Handy
1. Do Some Repair Work
The period in between the old tenant moving out and the new one moving in is the ideal time for this. No tenant is willing to incur the cost of repair for things they did not break. The competition is also stiff and only the best houses get favourable responses from potential tenants. Any hanging gutters, peeling paint or overgrown grass need to be dealt with. The thing here is to get the house to match the neighborhood standards. When the house is in tip-top shape it attracts more clients. The state of the house also determines the kind of people who find it attractive to live in. Apart from earning you more money, it will also attract people whose class you find fitting.
2. Make sure the Appliances are Working Just Fine
The appliances that the tenant will use while staying in the house should be in good working condition. Of course, this does not mean that you are required to provide a dryer and a refrigerator. However, whatever appliances you provide should not be problematic to use. In some cases, the repair work may not be economical if you think about the rent. For such scenarios, you can decide to ditch the domestic devices and reconsider the rent you intend to ask for.
3. Paint the House afresh
This also plays a big role when it comes to first impressions. Applying a fresh coat of paint is the kind of thing to win the client over even before they have a chance to decide whether they like the place or not. The most favourable colours to go for are the neutral ones. They will make the place look brighter and bigger. Such colors also allow the tenant to do some of their own painting if they want to-you don’t want them thinking that the house can only be painted blue.
4. Clean the Carpets
Carpets can collect a lot of dust especially when the house has been vacant for a while and there has been nobody to look after the place. Health hazards such as mold and mildew are the other things you need to worry about. Proper carpet cleaning is focused more on providing a healthy environment for your tenant rather than impressing them. In the event that the carpets are too damaged by mildew and mold then replacements are in order.
5. Check All the Doors and Windows
Before the new tenant moves in they need to be assured that they are moving into a house with the right safety features. As such, you should ensure that the doors close and open properly, the same goes for the windows. Still on safety, you should also make sure the smoke detectors and fire extinguishers are readied for an emergency.
6. Familiarise yourself with the Law
Things such as tax codes and relevant housing laws cannot be ignored. Find yourself a public accountant who will tell you all about the taxes relevant to investment properties. While we are speaking about the law it is important that you stay away from hand shake deals. Also, avoid making changes that are not included in the lease, there is no legal scenario where these count.
The most important thing about getting your house ready for leasing is knowing what it needs. After working out what you are required to do, you will have a clear idea of what to expect in terms of rent.