Prepare Your Property for Leasing
Making the decision to rent your property out is a big step, but as a potential landlord you need to remember it’s not the only step. Even though demand for rentals are good at the moment, it doesn’t mean you should rest on the property’s laurels without some additional work.
You might not be selling the property but you are still competing with other rental properties for good, reliable tenants. If you want maximum rental revenue, here are 5 ways you can prepare your property for leasing and get those reliable tenants in ASAP.
- Toolbelt TimeIt’s time to fix the little maintenance issues that potential tenants notice when they inspect a property. Something as simple as a light not working can put them off.
- Kerb AppealGet the whipper-snipper out! Making sure the garden is neat, tidy and not overgrown is a way to get potential tenants interested before they’ve walked through the front door.
- Safety FirstMake sure your property is safe, especially if young families are your target market. Broken fencing, loose steps and unsafe decking will have possible tenants leaving your place faster than you can say litigation!
- Seeing GreenSydney is one of the most expensive cities in the world to live in (we ranked in the top ten last year – Ouch!). Environmental installs such as solar power, insulation and LED lighting is a big drawcard for tenants looking to save on power bills.
- Be SwitzerlandNeutral palettes in shades of beige, creams and whites appeal to tenants. A blank canvas of neutral walls, carpets and tiles goes better with more styles, colours and types of furniture. Update carpets and give the interior a lick of paint. It doesn’t have to be expensive, but the return will be worth it.
While there are plenty of renters traipsing around the suburbs every weekend looking for a property to lease, it’s important as a landlord that you be realistic about price and quality.
Yes, demand is high but if your place is the one with the door hanging off its hinges, the overgrown garden and the bright purple walls inside, you may find that tenants will sign on somebody else’s dotted line.