8 Tips for Getting Your Property Ready to Rent
Renting out a property is a surefire way to get an additional source of passive income. However, high tenant turnover and vacancy rates make earning steady rental money nearly impossible.
For every day your rental property sits empty, you’ll be losing on potential income. Additionally, a vacant property will lead to increased cleaning, maintenance, and marketing costs.
To help you out, the experts at Superior West Property Management have written this guide! Keep reading to learn how you can get your property ready for rent faster.
Schedule A Walkthrough Inspection
You should schedule a full-house inspection as soon as tenants move out. This will allow you to inspect the state of the property and make note of any issues that require your immediate attention.
Additionally, a walkthrough inspection will allow you to assess the overall condition of the property. This will help you determine whether there are any repairs or cosmetic upgrades you should do before listing your home for rent once again.
Make Any Needed Repairs
As a landlord, you should never ignore or postpone repairs. Even the smallest issues, such as a leaky faucet, can turn into major repairs if left unattended for too long.
During your walkthrough inspection, you should assess the overall condition of the property, any provided appliances, and all its systems, such as plumbing, HVAC, and electrical systems. This will help you ensure everything’s working as it should and spot any issues before they escalate.
Deep Clean the Property
Typically, tenants will clean the property before moving out. But this may not always be up to the landlord’s standards.
During the walkthrough inspection, you should inspect the condition and cleanliness of the property. Even if tenants have cleaned before moving out, deep cleaning the property will be greatly appreciated by your new tenants.
Depending on the condition of the property and your time commitments, you can clean the property yourself or hire a professional cleaning company. Either way, you want to ensure that all rooms, fixtures, windows, and appliances are well cleaned. Landscaping and cleaning the front and backyards is also a must.
Install New Locks
Whenever a tenant moves out, you should change the locks in the main doors. This can go a long way in preventing holdover tenants and squatters from occupying your home while it’s vacant.
Additionally, installing new locks and investing in other security features, such as cameras and motion-activated lights, will make your rental property more attractive to prospective tenants, as it will be noticeably safe and secure.
Invest in Property Upgrades
Newly renovated properties tend to attract more tenants. Additionally, they can be rented at a higher price. Even the smallest cosmetic upgrades, such as installing new fixtures, improving the curb appeal, or adding “smart” home features, can make your rental a lot more attractive to tenants.
Bigger renovations, such as renovating the kitchen, expanding a room, or changing the tiles in all the bathrooms, will not only help you fill your vacancies quickly but will also increase the overall value of your property. This is crucial for getting a higher ROI.
Keep an Eye Out for Mold Growth and Pest Infestations
Unfortunately, many issues cannot be easily spotted with a property inspection, such as mold and pests. More often than not, signs of these issues become visible when the problem has already escalated.
In addition to conducting a walkthrough inspection, you should hire professionals to inspect your property for mold growth and pest infestations. Even if your rental is free from these problems, taking this proactive approach can go a long way.
By ensuring that your rental property is always free from health hazards such as mold and pests, you will be able to attract and retain tenants for the long term, ensuring the profitability of your investment!
Advertise Your Rental Property
Hundreds of properties are listed for rent in California every day. To fill out your vacancies quickly, you need to advertise your property as soon as possible. If you know your current tenants are moving out soon, you can begin your marketing efforts a couple of months before their move-out date to minimize the period of vacancy.
To ensure that your rental stands out from the rest, you need to write an attractive listing that includes high-quality photos of the property. The goal is to showcase the best attributes and unique features of your home. Then, you should publish your rental listing across multiple real estate websites, you’ll increase its visibility and attract a wider pool of prospective tenants!
Partner with a Property Manager
Getting a property ready to rent is no easy task. Tasks such as cleaning, coordinating repairs, and marketing your rental require plenty of time and dedication. If you have a full-time job or would simply rather not deal with all this burden, you should consider hiring a property manager.
A seasoned property management company will help you get your property ready for renters and effectively market your rental. Additionally, they can help you with other tasks such as screening tenants, collecting rent, and coordinating regular maintenance that will ensure the profitability of your rental investment!
Bottom Line
Getting a property ready for renters is no easy task. Luckily, you can achieve great results with no stress by partnering with a property management company!
If you own a rental in Riverside, CA, or any of the surrounding areas, contact Superior West Property Management! As a family-owned and operated property management company, you can rest assured that we’ll treat your rental property as if it were ours.
