STEP-BY-STEP GUIDE: Preparing your family home for the Rental Market
Preparing a family home for the rental market can seem daunting, but with a step-by-step approach, it can be manageable. Here are some steps to help get your property ready for the rental market:
- Assess the property: Walk around the property and assess its condition. Take note of any repairs that need to be made, any cosmetic updates that are necessary, and any areas that need cleaning.
- Repair and replace: Make any necessary repairs and replace any items that are worn out or outdated. This might include replacing old appliances, repairing leaky faucets or fixing broken tiles.
- Paint: A fresh coat of paint can make a big difference in the look and feel of a property. Consider painting walls that are scuffed or outdated, and choose neutral colors that will appeal to a wide range of renters.
- Landscape: Curb appeal is important, so make sure the yard and landscaping are in good shape. Trim overgrown bushes and trees, plant some flowers, and make sure the lawn is mowed and edged.
- Inspect and repair the roof: Inspect the roof for any damage, leaks, or worn-out tiles. Make any necessary repairs to prevent any water damage in the future.
- Check electrical and plumbing: Ensure all electrical and plumbing systems are functioning properly. Check for any leaks or clogs and fix any issues immediately.
- Make it energy-efficient: Consider installing energy-efficient features such as LED lighting, a smart thermostat, and energy-efficient appliances to save on energy costs and attract environmentally-conscious renters.
- Hire a professional cleaner: Consider hiring a professional cleaning service to do a deep clean of the property before showing it to potential renters.
- Clean and declutter: Before showing the property, make sure it is clean and decluttered. Remove any unnecessary items that might make the space feel cluttered and de-personalise the home, to allow the prospective tenants to imagine the space as their own.
By following these steps, you can ensure that your family home is in good condition and ready to attract potential renters.
That is all great information to get your property ready to go, but you might really be asking... What additional things can I do to increase my properties potential rent and create tenant demand, minimising vacancy time?
There are plenty of possibilities and it varies for each specific properties needs... however some of the main upgrades & inclusions are:
- Upgraded Appliances: Consider upgrading your kitchen appliances to energy-efficient models, such as a refrigerator, dishwasher, and oven. Not only will these upgrades attract renters, but they will also save them money on their monthly utility bills.
- Smart Home Features: Adding smart home features like a thermostat, security cameras, and smart locks can add convenience and security to your property. This can attract tech-savvy renters who value the latest technology in their homes.
- Ceiling fans & Air conditioners: Here in regional QLD this is a very common tenant requirement when searching for a new tenancy. Having these installed throughout your property is gaurenteed to reduce vacancy time and create more interest.
- Additional Storage Space: Adding more storage space, such as built-in shelves or garden sheds, can increase the perceived value of your property. This can be especially appealing to renters who need extra space for their belongings.
- Outdoor Living Spaces: Adding an outdoor living space such as a deck or patio can increase the perceived value of your property. Everyone appreciates a place to relax and entertain outdoors, especially in warmer months.
- Pet-Friendly Features: Consider adding pet-friendly features like a fenced yard or pet door. These features can be a draw for tenants with pets, who may have a difficult time finding suitable rental housing.
- Upgraded Bathrooms: Upgrading your bathrooms can significantly increase the perceived value of your property. Consider upgrading to modern fixtures and tiles, adding a vanity with plenty of storage space, or installing a rainfall showerhead.Off-Street Parking: Adding off-street parking can be a huge draw for tenants who need a place to park their car. This can be especially important in areas where parking is limited or expensive.
We did say a 'Step-by-Step' guide... so we should probably answer the question that comes next. "How can I best present it for photos and for the potential tenants looking through at open homes?"
- Declutter and Deep Clean: Make sure your property is clean, tidy, and free of clutter. This can make it easier for tenants to visualize themselves living in the space.
- Staging: Consider staging your property to create an inviting atmosphere that potential tenants can imagine themselves living in. This can make the property more appealing and help it stand out from other listings. We want to draw people in when they first see the property advertised online. (Chat to us about how we can do this digitally to save you hundreds or even thousands on unnessacery staging costs!) 5 images completely staged and with all of your current items in the household digitally removed, will only cost you $200! You have these images for life and can re-use them whenever you need to re-let the property.
- Professional Photography: Invest in professional photography to showcase your property in the best possible light. High-quality photos can attract more potential tenants and make your property stand out online. (This & digital staging creates miracles)
- Highlight Key Features: Make sure to highlight key features of your property such as upgraded appliances, outdoor living spaces, and storage options. This can help attract potential tenants who are looking for specific amenities. (This will be done by us in the write up of your property when we advertise, all you need to do is give us the run down of what you've been up to)
- Create a Pleasant Atmosphere: When showing your property, create a pleasant atmosphere by opening up windows to let in natural light, adding fresh flowers or plants or putting on a couple of candles.
Do you have a question that hasn't been answered? Please reach out to our Business Development Manager, Julie. She is available and happy to answer any questions you may have at any time. She is an expert on all things property management, specifically the rental market, leasing and leading you through the process for an easy change over from your old home to your new investment! Feel free to give her a call or send her an email. See below details.
Julie Murray
0433 834 405
jmurray@remaxliving.com.au
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