Getting Your Rental Property Ready for a New Tenant
Leasing property allows you to earn income from your investment asset as you wait for it to mature fully, but becoming a landlord also comes with quite a few ongoing tasks and responsibilities. Property maintenance is one of those constant duties.
It is a legal requirement for landlords to provide clean, safe, and well-maintained rental properties to tenants that meet specific standards outlined by their respective jurisdictions. In light of this, investing adequate time and resources in preparing rental properties for potential tenants ensures compliance with the law. It attracts high-quality renters willing to pay higher rent rates. Proper maintenance and preparation of a property can significantly improve its value and appeal to potential renters, allowing landlords to maximize their return on investment and establish a favorable reputation in the rental market.
In this article, we will discuss our tried and true method to ensure your rental unit is in top-notch condition before tenants move in and the four steps that you should follow.
1st Wave Pre-Cleaning
The first step of the property preparation process is a comprehensive first-wave pre-cleaning. This process should involve clearing all items not included in the lease from the property, including any personal effects belonging to the previous residents.
When beginning your pre-cleaning, it’s important to investigate every aspect of the property, including all appliances and fixtures, thoroughly. Every nook and cranny should be explored, with all surfaces being wiped free of any grime or dust that may have accumulated.
To ensure that the property is in optimal condition, it’s essential to examine the interior and exterior, taking note of any damages that may require attention. While you may be tempted to call upon professional cleaners immediately, it’s best to wait until you’ve assessed the property’s overall condition and made any necessary repairs before moving forward with this expense.
Repair What is Fixable
Completing the first wave of pre-cleaning often results in a list of repairs requiring attention. The top priority on this list should be addressing any safety hazards that threaten your tenant’s well-being. These may include but are not limited to, loose wiring, broken railings, uneven steps, damaged roofs, and other potential housing violations. It is crucial to promptly take care of these repairs to ensure your tenant’s safety and reduce the risk of accidents on your property.
Secondly, you must ensure that all features provided with your rental property function well before tenants move in. This includes testing the HVAC system, electrical system, plumbing fixtures, and appliances for proper function. Any fixture that is part of the home’s function should be addressed before a tenant moves in.
Hiring a licensed and trained tradesperson to inspect and promptly correct any system deficiencies is a wise investment that can help you mitigate the potential financial losses that could arise from the failure of a critical system in your home or property. By ensuring that a licensed professional handles the job rather than relying on ad-hoc, DIY approaches, you can rest assured that the work has been done correctly, to code, and in accordance with best practices. This sense of security is particularly important when it comes to potentially hazardous systems like electrical, plumbing, or HVAC, where a mistake could have serious consequences. Moreover, employing certified tradespeople proves that you have taken the necessary steps to properly care for your home, property, tenants, or occupants.
After conducting a thorough inspection of the major systems and appliances, attention turns to the smaller items that require repair. While these may not have the same level of complexity as larger systems, their importance should not be underestimated. From leaky faucets to faulty light switches, these smaller items can cause significant issues if left unaddressed.
In most cases, small repairs are most cost-effectively completed by the owner, if skilled in DIY. But when approaching these repairs, it is imperative to consider not only the issue at hand but the potential consequences of a poorly executed repair. You should focus on these smaller items with the same level of care and attention paid to major systems and appliances. Professionals can ensure a comprehensive and sustainable repair process.
Lastly, focus on the property’s cosmetics. All tenants expect a functional home but a well-maintained home that looks new and upgraded is more likely to attract reliable, motivated tenants who are willing to pay a higher rent rate. To achieve this, it’s advisable to invest in basic cosmetic repairs such as replacing burned-out light bulbs, re-caulking the bathroom, or replacing outlet covers. These repairs are relatively affordable and are capable of giving a home a fresh appearance and upgraded feel, which can entice prospective tenants.
Upgrade, Replace & Improve As Needed
There may be some fixtures and features that simply cannot be repaired cost-effectively, and a replacement is necessary. Additionally, even if a fixture is working perfectly fine, it may still be worth considering an upgrade in order to save money in the long run. When making the decision to upgrade, it is important to weigh the potential costs and benefits and consider the long-term cost-effectiveness of the fixture.
Ultimately, upgrades should always be a worthwhile investment. Take the practical approach that focuses on cost-effectiveness through a return on your investment over time. One excellent strategy is to prioritize durable materials and equipment, which may require a greater upfront investment but can ultimately save you money by reducing the frequency of necessary repairs and replacements. For instance, simple upgrades like lighting, fixtures, and paint can make a significant difference in terms of differentiating your property from others and enhancing its appeal to potential renters. Furthermore, keep in mind that the quality of the upgrades and replacements also matters. By selecting high-quality, durable items that can stand up to regular use and weather conditions, you can reduce your maintenance costs and streamline your operations, ultimately maximizing your return on investment.
Deep Clean Everything
The final step in preparing a rental property for new tenants is a thorough deep clean. This not only improves the overall appearance and appeal of the property, but it also ensures that your new tenants are moving into a clean and sanitized environment. Start by making a detailed cleaning checklist to ensure that every area of the property is properly cleaned, including commonly overlooked areas such as baseboards, ceiling fans, and inside cabinets and drawers.
Consider hiring professional cleaners for this task, as they have the necessary equipment and expertise to deep clean effectively. Additionally, professional cleaners can save you time and energy, allowing you to focus on other important tasks related to managing your rental property.
But for those who prefer a more hands-on approach may choose to undertake this task themselves rather than hiring professionals. However, the process should be approached with the same level of care and attention to detail as one would expect from a professional cleaner. Every inch of the property, especially appliances, floors, surfaces, porcelain and light fixtures, should be cleaned and sanitized.
If the property has carpets, consider calling in a professional cleaner to ensure they receive a thorough cleaning that only a pro machine can provide. Finally, ensure the space smells inviting and neutral before welcoming new tenants into their new home.
Conclusion
Preparing your rental property for occupancy requires a thoughtful and systematic approach. By following these four steps, landlords can feel more confident in attracting top-tier tenants and earning the best possible rental income.