In a city where almost 80% of people live in a rented house, it won’t be wise to just put yours up for renting as soon as it is completed. You can always prepare your home for a new tenant. That being said, the process of renting your house is not as easy as hanging a ‘To-let’ sign outside and hoping for the best. Whether you just built a new home or are waiting for a new tenant, there are plenty of things to consider before putting your property up for rent. To that end, we have compiled a list of 5 useful tips to get your property ready for renting and more.
Fix what’s broken
As straightforward as it sounds, fix every single thing that needs to be fixed. Does the roof leak during heavy rainfall? Does the bathroom door require two people to shut it closed? Is there a cabinet in the kitchen that needs to be adjusted to close properly? Your tenants might notice these things and will probably not want them.
Get the plumbing done if anything needs fixing. Look out for any kind of leakage or dampening problems. Check if all the fixtures and fittings are in good and workable condition or not. Get an electrician to check if the wiring is right. There are different types of door locks, check if the lock needs to be fixed or not. One of the most effective tips to get your property ready for renting is to make a list of things that needs to be fixed or redone.
Clean, Clean, and Clean
Keeping your house net and clean is key. Search for existing mold if there is any and also look for mold build up. Usually, rooms with dark corners are the most mold-prone areas. Besides, bathroom tiles and fixtures can also build-up mold so consider these as well when cleaning. Scrub the mold out from the tiles and fixtures. But do not scrub drywall. There is an excellent article on how to clean walls properly. You can check that out. Use soapy water and choose less abrasive cleaners to do the job. Among all the tips to get your property ready for renting, this one might cost you some time more than others.
Paint it fresh
As much as we want to live in a fresh and welcoming environment, our tenants do so too. If your home feels a little gloomy or dull, a coat of fresh paint can do wonders for the house. Besides making the environment zippy, it will also make the entire house look clean. It is always a good idea to think about the paint job but it is not mandatory. You just need to check if the paint is wearing off or not. Now, this may cost you a bit but you can cut down the cost by doing it yourself.
It is not a common practice in Bangladesh, but if we look at other developing countries, generally, most homes are equipped with everyday appliances. Now I won’t tell you to install appliances such as a washing machine or a dishwasher. That is simply not feasible for most people. But if you can add something that adds value to your home, your tenant won’t shy away from spending a little extra on rent every month.
See if you can install cabinets to your kitchen or change the knobs. It can give your tenant the impression that they are in a new home. In the bathroom, if possible change the old faucets and tabs for that matter. Or if you feel like it, opt for an accent wall to liven up the interior. It won’t cost you much but can add great value to your home. Of all the most effective tips to get your property ready for renting, this one by far is the most effective and valuable one.
Fix, clean, paint, and add; at this point, your property should be ready for renting but there is one more important thing that needs to be discussed. And that is to check whether you are renting your property to the right person or not.
Vet your tenant
As a landlord, you are responsible for a lot of things. If something unfortunate happens in your property only you will be responsible for the consequences. So make sure you have the following before letting anyone reside in your home.
- Rental history (relationship with the previous landlords as well as their overall past experience as a tenant)
- Background check
And if you want to have things done for you (let’s face it – we all do), let a property management company such as Bproperty help you.
There is much more than fixing and cleaning your house when it comes to getting your property ready for renting. You have to be careful about a lot of things. Not only can these things (background check, references, rental history) keep you secure from unwanted problems, they can almost guarantee you a great tenant to share your most valuable purchase or investment with.