Nov 092010
Preparing Your Rental Property
How can I as a landlord best prepare my rental property?
- Before putting a property on the market for rent, clean it thoroughly. This will reveal any work that might need to be done to the floors, windows or walls. If there are any leaks in the roof, plumbing etc it would also be a good time to repairs these.
- Make all the needed repairs so that your property is as attractive and marketable as possible and note any damage that will not be repaired.
- If your property has a septic tank we recommend that you have it pumped especially if it has not been pumped in a while or you are unsure when it was last pumped.
- If you have expensive furniture, appliances, etc we recommend you put them in storage and replace them with less expensive items. This will limit you losses and protect your valuables.
- Any china, crystal, photos, books, and anything else that you might be concerned about getting damaged by tenants we also recommend you put in storage.
- It is recommended that you have a hot water heater, range, and a refrigerator for the tenants to use.
- Although most rentals do not have washing machines and dryers these added amenities could make your property just that little bit more attractive to a perspective renter.
- It is also helpful if you can tell us what your average monthly utility costs are as this is often a question that tenants ask when looking for rental property. If you do not know these costs we will find them out from the local utility companies.
- Install smoke detectors in all the rooms and test them to make sure they are working.
- Place one or more fire extinguishers in the house. They should be in an easy to access area fully charged and ready for use with how to use instructions.
- We also suggest that you establish and maintain public liability insurance. This insurance will cover all risks arising from the rental of the property, and will protect the owner.
- It is also recommended that the owner establish a fire insurance policy.