Hi everyone! Today I am welcoming Jennifer Riner of Zillow to Retired by 40! As many of you know, we are not going to live in our current house forever. We got a killer price on it, so we intend to rent it out when we move! As such, getting a house ready to list is something I’ve been thinking long and hard about!
Investors may be antsy to rent out their properties and begin profiting from their recently acquired assets right away. However, prepping rentals for tenancy is a crucial process. Legally, homes for lease must comply with state and federal housing codes. But, to attract tenants, proprietors need to go a few steps further.
To attract renters and retain responsible tenants, follow these provisions.
Make sure both interiors and exteriors of rental properties are free of garbage or debris. Lobbies and common facilities should be regularly mopped or vacuumed, and units should be thoroughly examined prior to listing rentals on the market. Replace disposable or clean reusable air filters, wipe vents and dust ceiling fans. Shampoo wall-to-wall carpeting and hire professional cleaners to steam away residue and stains. Wipe down baseboards, crown molding and window trim. Finally, clean appliances thoroughly. Grease stains and old food spills act as red flags to prospective tenants, who may associate a lack of cleanliness with lackluster management.
Depending on price range, most apartment complexes feature some landscaping for residents to enjoy. Courtyards should be well-groomed, deficient of overgrown grass or weeds. Pet-friendly apartments benefit from disposable bags for waste clean-up so residents can take personal responsibility for their animals. Landlords should lock away potentially hazardous gardening tools, including mowers, rakes and shovels to avoid liability for any associated injuries.
To ensure the safety of future residents, always rekey units in between leases. Reset alarm codes and change mailbox, gate and shed locks. Previous, disgruntled tenants might withhold keys and landlords are smart to protect their assets as well as their current lessees. Residents have varying lease dates so changing common area locks multiple times a year is inconvenient and costly. Insist previous tenants return facility keys such as FOBs, fitness center and pool keys by charging fines for lost keys.
Regularly spraying for pests diminishes the likelihood of any surprise bugs running around rental properties. Professional exterminators prevent and treat the most common bugs for geographical locations and climates. Keep exteriors inviting by eliminating bee and wasp nests from entryways and courtyards. Do not attempt to try to remove dangerous critters without professional help and appropriate protective gear.
Paint apartments light, neutral shades before listing them for rent to appeal to the widest variety of applicants. Freshly painted walls help reflect natural light and brighten spaces lacking multiple windows. Not only do fresh coats of paint make interiors look crisper, they also help rid homes of old cooking, smoking and pet odors when combined with thorough carpet cleanings. With a do-it-yourself approach, painting is relatively inexpensive.
Keep listings fresh by implementing these strategies regularly, rather than just in property management ventures. Current and future tenants appreciate the upkeep, and likely reciprocate through timely rent payments and respectful behavior.
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