No more guesswork, landlords! There’s a lot to do to prepare a property for rental, so use this simple rental checklist to make sure your house is ready.
Owning a rental property comes with certain advantages. Not only will it provide you with a direct income stream, but it’s also a good way to diversify your investments. Also, if you live in an above-average area, you can expect your rental’s value to increase over time. This means you can either charge more for rent or enjoy a nice profit if you decide to sell in the future. But it’s not without challenges. Along with finding good tenants, you also have to invest time and money in preparing your property. To make your job easier,
Here’s a rental checklist that will help ensure your property is rent-ready.
Get Rid of Clutter
If you’re renting an unfurnished unit, you can skip this step. But if not, you’ll have to spend a day or two getting rid of everything that’s not considered part of the lease. These include personal items such as photos, heirloom, and handmade items, etc.
Now, if your property is a vacation rental, which means you need to leave it nicely furnished, make sure you have a record of all the items in there. Always perform an inspection before and after a guest stays. This way, you can easily track if there are missing or broken items that need replacing or fixing.
Don’t Forget About Security
Remember, it’s not just landlords who have a checklist. Tenants also have their own checklist for renting a house, which usually includes how safe a property is before they consider moving in. For some properties, an alarm system, outdoor lights, new locks, and so on may be enough. But for a luxury rental, you may want to go the extra mile in hardening your property’s security system.
Nicholas Hunt from GateAutomationSupplies.co.uk says that many people with automatic gates in their driveway also invest in audio and video intercom systems. It’s good advice since your luxury rental tenants would most likely want the best level of access control for their new home.
Consider Hiring Pros
Can’t get your rental clean enough? Or maybe your DIY fixes didn’t do anything and even made things worse? If you’re not satisfied with the current state of your rental and you can’t wait for it to be rent-ready, it’s best to hire pros.
You can hire experts for cleaning the carpet or even do top-to-bottom interior cleaning if you want. There are also professionals who can help ensure your home is pest-free, as well as those who can check your HVAC system to see if it’s still in tip-top shape.
Double Check Your Rental Checklist
Landlord checklists aren’t all the same. It depends a lot on the type of property and whether it’s going to be rented out to a long-term tenant or a short-term one. If your property is a vacation rental, you’ll have to provide a hotel-like experience for your tenants. So your rental checklist could include things such as Wi-Fi, free toiletries, and so on.
Meanwhile, if you’re renting out a property to a long term tenant, your rental checklist should include an airtight rental agreement (in addition to the things listed above, of course). Don’t forget to protect your investment, so when your long-term tenant moves out, you don’t need to spend a lot sprucing it up for the next renter.
Being a landlord isn’t easy, especially for first-timers. Hopefully, you’ve found this rental checklist helpful and that you’re already taking steps to make your property rent-ready.
If you need more help though, don’t hesitate to check out the rest of the blog. We have tons of tips and advice for new, as well as long-time landlords.