As a landlord, having a vacant property can be a frustrating experience. You have no income, yet bills like property taxes, mortgage payments, and maintenance costs keep piling up. Fortunately for you, there are several things you could do to get your property occupied by a great tenant.
Here are 7 great Tips to Getting Your Property Ready to Rent.
1. Advertise Your Property Extensively
Tenants will only be aware of vacant units if they are advertised. Promoting your property across all platforms ensures it is visible both online and offline.You may also want to incentivize your existing tenants for any qualified leads they send your way.
When marketing your property, be sure to provide prospects with a detailed description. This will ensure that potential tenants know exactly what they will get when renting from you.
2. Make important Repairs to The Property
A vacant property can be a liability, but it also presents an opportunity for landlords to perform extensive repairs. With no tenants in the way, you’ll have uninterrupted access to the property for any necessary maintenance.
- Assess the Carpeting: Look for signs of excessive wear and tear, such as frays, holes, or flattened fibers. If you notice these issues, replace the carpet.
- Check the Appliances: Ensure all appliances are functioning properly. If certain appliances require frequent repairs, consider replacing them. Most appliances need replacing every 10 years or so.
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Inspect the Furnishings: Examine provided furnishings for rips, tears, stains, fading, or significant scratches. If you find any, repair or replace the items.
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Other Inspections: Don’t forget to check light bulbs, smoke detectors, and doorknobs to ensure they are in good working condition.
3. Upgrade the property
A vacant unit offers landlords a great opportunity not just for essential repairs but also for property upgrades. Here are some critical upgrades you can make during this time:
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Repaint Worn Walls: Refresh the look of the property by repainting tired or outdated walls.
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Repair a Leaky Roof: Fix any issues with the roof to prevent future leaks and damage.
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Soundproof the Walls: Enhance privacy and comfort by soundproofing the walls.
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Improve Curb Appeal: Boost the property's exterior appearance to make a strong first impression.
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Open Up Spaces: Consider knocking down some walls to create a more open and inviting layout.
4. Schedule a Walk-Through Inspection With The Tenant
If a tenant won’t be renewing their lease with you, make sure to conduct a walk-through inspection with them. Have the move-in checklist to help you compare the move-in condition with the move-out condition.
The goal is to check whether the tenant has caused damage exceeding normal wear and tear. Examples of such damages include unauthorized paint colors, large holes in walls, broken windows or doors, clogged drains, and missing fixtures.
The tenant must make such repairs before moving out of the property. If they fail to do so, make appropriate deductions from their security deposit.
5. Give The Home a Professional Clean
A clean home is essential for relaxation and comfort, which is why quality tenants prefer well-maintained and tidy properties.
After a tenant moves out, thoroughly inspect the property. If you're able to do the end of tenancy cleaning yourself, you can save you money. However, if not, consider hiring professional cleaning services.
Professional cleaners have the tools and expertise to handle the job effectively. Make sure the cleaning checklist includes both the interior and exterior of the property.
6. Rekey The Locks
As a landlord, ensuring your tenant’s security is a top priority. Therefore, it’s important to rekey the property as soon as a tenant moves out. This prevents strangers from having access to the property and trespassing.
To enhance security further, consider installing a keyless entry system. Keyless systems offer convenience for both landlords and tenants. Tenants won't have to worry about losing keys or getting locked out, while landlords can manage access more efficiently, including granting or revoking entry remotely.
7. Inspect for Mold and Pest Infestations
Before listing your property for rent again, it's crucial to ensure it's free of both mold and pest infestations, as both issues can significantly impact habitability and tenant satisfaction.
Mold Inspection
Mold can be a serious health risk and can make your property less appealing to potential tenants. Common areas where mold may develop include laundry rooms, kitchens, bathrooms, basements, and underneath flooring.
Look for a musty odor, which is a common sign of mold, and watch for symptoms such as itchy eyes, coughing, runny or stuffy nose, or sneezing, which could indicate mold exposure. Ensure the property is thoroughly inspected and treated for mold before renting it out again.
Pest Inspection
Pest infestations are a major concern for tenants and are the landlord's responsibility to address. Common pests in Massachusetts include cockroaches, ladybugs, fruit flies, bed bugs, mice, and stick bugs.
After a tenant moves out, inspect the property for signs of pest infestation, such as droppings, unusual smells, gnaw marks, shed skin, or nests. Address any infestations promptly to prevent the issue from worsening and making the unit uninhabitable.
By addressing both mold and pest issues, you help ensure your property is safe and appealing for new tenants, and you comply with tenant protection laws, which may allow tenants to take legal action if the property is deemed unlivable.
Bottom Line
As a landlord, preparing your rental property for tenants involves several important steps. To rent out your property quickly and attract the best tenants, follow these essential tips.
For expert assistance with getting your property rent-ready or managing it overall, partner with us at Fall River Property Management. We offer comprehensive property management services in Fall River and New Bedford, aiming to help landlords maximize income and reduce stress. Contact us today to find out more!