Preparing a Home for Rental Income
Rental income business has become very lucrative these days. However, it has also become very competitive with more and more investors jumping on to the bandwagon. If you are a property manager or a landlord, you need to keep your property clean and fresh to catch the attention of potential tenants. The best way to attract good tenants to your building is to improve the quality of structure.
Be ready with the documents
Like in any other business, you have an edge over others if you keep all records and documents. If you can produce documents proving the repairs, you can easily win the confidence of your potential tenants. Having records in place also means you can withhold security deposit of a tenant if you can prove that he has caused damage to the structure. By maintaining a paper trail, you can keep property owner informed always and also get good quality tenants with ease.
Fix broken items
No good quality tenant takes interest in a property where he finds broken handles on doors and broken glasses in windows. Make sure that you replace broken fixtures and glasses as quickly as possible. All switches on electric boards should be in working condition and all fixtures in bathrooms should be smooth and working. Families interested in renting feel satisfied when they see everything working and in order.
Improve safety and security
One feature in high demand among tenants these days is high degree of safety and security. If all the locks are in working condition and there is an electronic surveillance system in place, you will find that potential tenants are impressed and also ready to pay a premium for their security. A caring and responsible property manager means a lot to tenants. They are also looking for good landlords just as you are in search of good quality tenants who pay on time and live for a long time in your property.
Inspection of appliances
If you are offering homes with appliances but not paying attention to their condition, forget attracting good quality tenants to your property. Make sure that you check all major appliances such as washing machine, gas stove, freezer, and dish washer so that they are in good condition and working all the time. You can win the hearts of your tenants by inspecting all appliances and getting them serviced from time to time.
Take care of bugs and pests
No tenant likes to live in a house infested by pests. Take extermination of pests seriously and tell your potential tenants proudly that your property is free from bugs and other kinds of pests. Not only is it necessary form the point of view of sanitation but also for the health of tenants and their pets.
Do not forget the landscaping
In present times when there are so many properties to choose form, it is the beautiful and unique landscaping that helps in making your property attractive for tenants.
These are just a few of the important steps you need to take as a property manager to make your property safe, healthy, and comfortable for your tenants.
If you’d like to talk more about the value of inspections, or you need help with Everest Property Management, please contact us at Everest Realty.
As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
