If you’ve recently bought a property or a tenant has just moved out, your next step should be to find a replacement. As the owner of a rental or investment property, you know how important it is to show it off in the best light.

When trying to attract tenants, your goal is to make the property rent ready. In other words, the tenant should be able to move into the unit upon signing the lease.

By having the space ready to go and a solid lease agreement, you’ll be fill vacancies in a shorter time frame. If you would like some tips on how to get your rental ready for rent, keep on reading!

Carry Out Property Upgrades

The best time to take on larger renovation or remodelling project is when the rental is vacant. So, if you choose to complete any upgrades, you’ll want to start by looking at the kind of features that your target tenant demographics is looking for in a rental.

From there, you should calculate the cost of the renovations to see if you’ll get a solid return on your investment. Finally, you’ll want to get in touch with a local contractor that you trust to carry out the renovations. This is best way to ensure that the project stays on schedule is done properly.

Here are some of the improvements you can make:

• Painting the walls
• Address the properties curb appeal
• Expand a room by breaking down a wall
• Add more storage space
• Fix the roof

Start Marketing Your Available Units Right Away

Vacant units don’t generate passive income, and they can also actually cost owners money if left empty too long. The property still needs to be maintained and you’ll have to cover other costs in the form of taxes, mortgage payments and any marketing fees.

With this in mind, it’s best to dive right into marketing your property on various listing sites like Zillow or Trulia. Also, speak to your current tenants and ask if they know anyone looking for a rental. It’s a good idea to use your contacts, friends and family as well. You can also post about the available rental on social media platforms so that people can share it with their followers.

Whatever means of marketing you use, you want to make sure that the best features of your units are highlighted. It’s also very helpful to have high-quality photos and videos of the spaces. Important details about the size of the unit, number of bedrooms and bathrooms, and its location should also be included in the listing.

Repair and Replace Broken Features

Once the property is vacant, you’ll be able to perform an in-depth inspection of the unit and schedule any repairs that may be necessary. If you need a specialist to carry out certain repairs, this is also the best time to do so as you won't have to work around a tenant’s schedule.

You’ll also want to look at your appliances closely and see if any need or replacing. If they are, consider energy efficient options as this can really appeal to tenant. Here are some things to do when assessing to condition of rental:

Take note of the lifespan of your units’ appliances and check if any need replacement. Repairing and replacing broken features is a great way to keep your renters happy.

• Repair broken appliances or finishings
• Replace dull or burnt-out bulbs
• Check your smoke and carbon monoxide detectors
• See if you a fresh coat of paint is needed

Conduct a Walk-through Inspection and Checklist

Before a new tenant moves in, it’s always best to assess and note to condition of your unit. This way when the tenant moves out, you’ll be in a better position to compare damage.

In this case, its best to have the checklist and notes on the initial condition of the rental will also make it easier to estimate repair costs. You’ll need this information when issuing a refund of your tenant’s security deposit. You’ll also want to receipt of any repairs you’ll done to the unit.

Have the Space Professionally Cleaned

If you find the rental property to be in reasonably clean condition already, you can perform a quick freshen-up yourself. However, if you want to ensure that unit is thoroughly deep cleaned, it’s best to hirer a professional.

A professional cleaning company will have the right training and products to ensure that the job is done right. Here are some of the main areas you’ll want to ensure are cleaned:

• The Kitchen: Oven and microwave, floors, draws, cabinets, refrigerator, sink, additional storage spaces.
• Bathrooms: Sinks, shower, bathtub, calls, window, toilet, mirror, fixtures.
• Other Areas: Ceilings, walls, laundry room, windows, floors, hard-to-reach areas, curtains

Install New Locks and Rekey the Unit

You must always prioritize your tenant’s safety and a new security system is a great amenity to offer your renters. To ensure that your unit are secure, you’ll need to change the locks and rekey the space once someone moves out. This is a step that cannot be forgotten or overlooked. For a more convenient solution, you can install electronic locks that only require a password change.

Address Any Mold

You have a responsibility as a landlord to keep your rentals in a habitable condition. One of the ways to ensure this is by inspecting to property for signs of mold. Mold can create serious health issues therefore if you spot growth, you must address right away.

You'll want to pay close attention to areas were moisture gathers so check the bathrooms, basement, laundry rooms, vents, and kitchen. 

Check the HVAC’s Functionality

Another way to ensure that your rental is habitable is by checking the cooling, heating and ventilation systems in the property. In this case, you should coordinate with an HVAC specialist to carry-out an inspection and then address any issues they might find before renting out the unit. Issues that may need fixing following the inspection:

• Replacing filters
• Patching up leaks
• Replacing pipes
• Addressing cooled drains
• Adjusting water pressure

Bottom Line

There are many steps a landlord has to take in order to make their rental property ready for rent. So, If you feel overwhelmed by these tasks, consider hiring a trusted property management firm.

The experts at Peak Residential have the industry knowledge and local connections necessary to ensure that your rental property is profitable and in good condition. Contact us today to learn more about our services!