Preparing your own home for other people to rent is not as simple as just moving out and putting a for lease sign out the front.
There are several things you should consider before handing over the keys to your home to a stranger.
So, why is it important to prepare your home to rent?
A home that has been properly prepared for rent can not only fetch a better weekly rent, and attract a better tenant, it will also help ensure the whole rental process runs more smoothly from start to finish.
As an owner, there are things that you would be happy to live with, knowing they could be fixed in time, that a renter wouldn’t – and shouldn’t – have to deal with. And there are also some alterations that could make your home more appealing and stand out from the crowd – or even get your more rent.
So, here’s our checklist of what you should consider before renting out your home.
If it’s broken, fix it
From the letterbox to the back fence, and everything in between, carry out any repairs to make sure your home is in tip top condition. This also applies to anything small that you’ve just grown used to living with, like mouldy bathroom grout, leaking washers, dripping taps, loose towel rails, broken tiles or chipped paint. A small repair or some maintenance now could save you a bigger problem and cost in the future.
Inclusions
Think about what you will be leaving behind or letting the tenants use and make sure it’s in good working condition. For instance, if your kitchen has space for a dishwasher, it’s usually best to leave it as this is generally high on the list of tenant wants when renting a property. Or if your laundry has a particular sized space for a washing machine you might be better to leave it in the property. It is important to note that any inclusions left in the property must be kept in good working order. Should the appliance stop working whilst the property is rented, then you would be required to fix or replace the appliance.
Clean
It is important to set the benchmark high, so your property is returned in good condition. Before you rent out your property give it a thorough spring clean and make sure it’s sparkling. Don’t just do the basics – we’re talking an in-depth spring clean including:
- Carpets;
- curtains and blinds;
- flyscreens;
- windows;
- window tracks
- garbage bins;
- garage and more.
It would be recommended to have your property professionally cleaned. This way, you do not need to spend your energy and countless hours cleaning the property.
Presentation
Think of prospective tenants as prospective buyers – they will be more attracted to a well-presented property. While you generally do not go as far as getting the property styled for rental properties, make sure you do your best to have it looking great for the photos and that it is clean and tidy for any viewings.
Don’t forget the outside
Make sure the garden is well presented with the lawns mowed. Is the letterbox in good repair? Are the gutters clean? Is the fence in good condition? Are there any pests or insects you need to deal with?
Adding value
Carpet, blinds, new paint and light fittings can be a cheap but effective way to freshen up a property. Adding a reverse cycle air conditioning can potentially add value to a rental property and be a big tick with potential tenants. As can a new bathroom or kitchen if the old one is very outdated, but you’ll need to do your own cost benefit analysis and work out how long it will take to recoup the initial outlay.
Insurance
You will need to notify your current insurance company that you are no longer living there and arrange landlord’s insurance. When looking for landlord insurance, it is recommended to investigate an insurer who specialises in landlord insurance.
By Anita Genrich
