rental key

Getting Ready to Rent your Investment

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The main motivation behind buying an investment property is to generate an extra income. So when you are about to embark on the journey of renting out your property it’s a good idea to make sure it is in such a condition that it will attract the extra income you desire and not cost you money.

First and foremost, the best way to ensure your property is suitable for rent and properly taken care of is to enlist the services of a reputable and reliable property manager. With so much real estate on the market for rent right now, the best way to ensure your rental gets maximum exposure and only the best tenants, is to let a property manager do the screening and advertising for you.

Cast a critical eye

Once you have your property management chosen you can start to plan what needs to be done to attract more tenants and be ready for them when it comes time for the lease to start. Your property manager can even go through your home with you and offer some advice on what needs attention, but for the most part, you can easily see yourself what needs to be done.

When you look around your property try to think how you would see the home if you were considering renting it. Would you rent it? Looks are not everything but they can make a lasting impression. Superficial things that don’t affect the running of the home but that bring down the feel of it should be taken care of.

Add a fresh coat of paint, new carpet or flooring if the existing ones are damaged and a garden overhaul if yours is overgrown. All these things will go a long way to impressing prospective tenants. Old worn kitchen benchtops will really lift the look of the place if they are updated too as will a full kitchen or bathroom refurbishment.

Follow the laws

Tenants have a right to live in a home that is fully functioning and is safe to live in. If the home has any repairs that are needed or appliances to be replaced then attend to these matters as it will be a breach of contract once the tenancy starts. It may even be a good idea to have an electrician and plumber to check all plumbing and electrical items so you know everything is in good running order.

To speak with the best property management team in town about getting your home ready for rent, please call 07 3843 4511 or 07 3350 1088.