How Should Landlord Prepare Their Property For Tenants?
Based on the condition of your rental property as well as the rental market, there are a few things you need to do so that your property would be fully set to accommodate tenants.
Check out the following things you should do as a landlord that is renting a house out:
Contact your mortgage lender
If you have any mortgage on your home, you should avoid any breach of terms by notifying your mortgage broker about renting a house to tenants.
This is because the mortgage for a primary home is usually different from the lease for rentals.
Change the insurance of the property
Since you have decided to rent out your apartment, you should not hesitate to get in touch with your insurer to update your insurance policy to one that is suitable for your investment property.
Understand rental taxation
Becoming a landlord also means that you now have to deal with rental taxation.
Therefore, speak to your tax advisor to understand how you can declare rental income and see if there is an exemption you can enjoy.
Take care of your appliances
It is important for you to test and service all appliances in the home.
These appliances include oven, water heater, and washing machine.
If any of these appliances are faulty or malfunctioning you should not hesitate to repair it.
Eradicate odours and moulds
Take your time to check out the kitchen, bathrooms, laundry room, and other parts of your home.
Clean and deodorize the kitchen, bathrooms, and carpets.
Also, eradicate moulds that you may find in the laundry room, closets, bathroom fixtures and tiles, and other places by scrubbing them with water and soap.
Clean up the window screens, windows, and curtains
If they are in good condition, get a professional to clean the window screens and windows and wash the curtains.
Alternatively, you can do it yourself to save cost.
Nevertheless, if these items are damaged, it is advisable for you to replace them.
Repaint the apartment
Although repainting before renting a house out can give the property a new look, it may not be necessary if the unit still has good paint.
With about $400 or more, you can hire professionals to get repaint a room.
However, you can do it yourself to lower the cost.
Replace the locks
As a part of your preparation of the property for tenants, change or re-key the locks to the apartment.
You are advised to install a keypunch lock that can be easily reprogrammed when you have new tenants.
Service the house AC system
Hire an AC technician to service the AC system of the property by checking the filters, seals, and other small components of the system.
If necessary, let the technician repair or replace any worn-out or damaged components.
Ensure hardwood flooring restoration
If you genuinely want your property to be in perfect conditions before renting it out to a tenant, restore the hardwood floors.
This may involve scraping the finish and putting a new coat on it.
Preparing your home for tenants can be instrumental in determining its values and how fast you can get tenants;
therefore, do not overlook any of the points mentioned above.
For an innovative way of managing your property, Reneza is here is for you.
With the technologically advanced system, this company provides industry-leading ways to manage your rentals.