Preparing your home for rent
If circumstances have changed and you’ve decided to rent out your own home to tenants, it’s important to remember living in your property and having it ready to rent are quite different.
A tenant will have certain expectations and rights when it comes to safety and maintenance, while preparing your home at the outset of its rental life can help you command a higher rental price.
So, here’s a quick guide to preparing your home for rent.
Ship shape
Over the course of living in your home, you may have been willing to overlook some little quirks, but a tenant will likely be less forgiving. That means you should take the time to fix any things which are broken or not working as they should.
This includes things like light fixtures, loose decking, hard to use blinds, and broken tiles or pavers.
Having these tended to in advance of renting out your property makes it more appealing, will encourage a tenant to have respect for your home, can help you achieve a higher weekly rent, and will save you on maintenance costs a little further down the track.
Safety first
When you’re looking at your home considering what may need to be fixed, bear in mind your future responsibilities as a landlord.
One of the biggest obligations you have is to ensure a home is safe to reside in for your tenant. Electrical issues, inadequate smoke alarms, sub-standard pool fencing, and wood rot in decks or floors are among the areas which pose a safety hazard, so have these fixed as a priority.
Major items
Around any home there are big-ticket items which need replacing over time, and having them fixed when tenants are in residence can be harder, not to mention more expensive. These major items include things like your hot water heater, plumbing, air-conditioning etc.
So, look at these carefully to ascertain whether they should be serviced or replaced in advance of renting. Meanwhile, if you plan on having inclusions like dishwashers or other white goods, it’s often worth investing in new models sooner rather than later.
Neat and clean
The easier your home is to maintain and clean for a tenant the better. And the more attractive it looks at the outset, the more prospective renters you are likely to have.
A fresh coat of paint is a great investment prior to renting out your home, while paring back the garden and conducting a complete tidy should be on your to-do list.
Insurance
You might already have building insurance, but if you’re going to rent your property out, it’s important to have landlord insurance as well.
The right insurance will cover you for lost rent in the event of a natural disaster and also assist with paying for any damage caused by a tenant.
