Whether you're a first-time landlord or have years of experience in the business, there will be times where your property will be empty, but you have a responsibility to make sure it gets qualified tenants back in it as soon as possible. But before doing finding qualified tenants, there are certain actions you must take.

At MTD Property Management we believe that the best way to get qualified renters in your property is to keep it rent ready. With that in mind, we have put together the following 8 tips for getting your property ready to rent.

Schedule a Move-Out Inspection

Immediately after tenant moves out, you should schedule an inspection to assess the condition of the property. The goal would be to check whether the tenant has caused excessive property damage to the unit and what maintenance is needed.

This process is critical as it can help you establish how much security deposit to return back to the tenant. If there are any excessive damages, you must create an itemized statement of deductions, including the approximate cost of repairs and any accompanying receipts or invoices.

You must also send the tenant a copy of the receipt indicating the actual cost of the work after an additional 30 days if the works are ongoing at the time of providing them the itemized notice. If returning the deposit in full, then you’ll have 45 days to return the deposit back to the tenant. 

Improve your Curb Appeal

Help your home make a great first impression by sprucing up the curb appeal. The following tips should get you started.

• Update the lighting.
• Replace a dated mailbox.
• Plant some trees and flowers.
• Paint the front door.

If you do focus on your property’s curb appeal, make sure only use low-maintenance plants as you don’t want to add extra work for your tenants to do.  

Perform Any Repairs

When your property is occupied, you may have limited inspections. But with a vacant property, you’ll have extended time to assess everything. So, prepare a checklist and get started. The following are some items that your checklist should include.

• Carpet: Does the carpet look faded or has it outlived its usefulness? Have it replaced. If you have the budget, you could also choose to install hardwood flooring.
• Light bulbs: Are the light bulbs flickering when switched on? Replace them.
• Appliances: Do the appliances look dated and have become energy inefficient? If so, consider replacing them with new and energy efficient ones.
• Paint: Does the paint look faded or streaky? If so, consider repainting the entire home. It’s not only relatively inexpensive, but it’s also one of the property upgrades with a high return on investment. 

If you charged a security deposit then you may be able to use it to reclaim some of your costs, but be aware that charging to repair wear and tear is illegal.

Clean the Property Thoroughly

Go round the property and determine whether the home is reasonably clean or not. If the property is in a good state and the previous tenant conducted the appropriate end of tenancy cleaning, then cleaning the property yourself shouldn’t be an issue. But if its condition is unfavorable, then you may need to hire professional help.

A professional will not only have the proper cleaning equipment to reach any challenging parts of the house, but will also have the necessary cleaning supplies to get the job done right.

Furthermore, you may also be able to recoup the cost of the cleaning from the tenant’s security deposit. The following is a sample checklist for cleaning areas:

• Living Rooms: Remove all trash and debris, vacuum carpets, and rugs, sweep and mop hard surfaces, wipe down baseboards, remove cobwebs from corners, detail ceiling fans, and dust air vents, among other things.
• Bathroom: Vacuum rugs, wipe down baseboards, wipe down vanity, wash sink and polish fixtures, scrub bathtubs and showers, dust air vents, and wipe down all cabinets, among other things.
• Kitchen: Some of the things you could do here include wiping down baseboards, scrub countertops and backsplash, and clean appliances and cabinets.

Rekey or Change the Locks

As a landlord, you have a responsibility to guarantee the privacy and security of your tenant. That’s why rekeying or changing the locks should be part and parcel of the re-renting process.

Rekeying is just that – changing the working key of the lock to a different key. In other words, you’ll get to keep the same lock but the old key will no longer work. Changing a lock, on the other hand, involves a total replacement of the lock and is more expensive than rekeying. 

Renovate the Property

The best time to upgrade a property is when it’s vacant. But not all upgrades are equal from an ROI point of view. As a landlord, you’ll want to invest in upgrades that promise the highest return on investment. The following are some high ROI upgrades to get you started:

• Repaint tired looking walls. Generally speaking, repainting at least every 2 to 3 years is a good idea.
• Install a new washer/dryer in the unit.
• Add a fresh backsplash or new fixtures.
• Pressure wash the exterior of the home.
• Replace dated cabinets.

Ensure the HVAC is Fully Functional

HVAC systems are crucial in running habitable properties. That’s why detailed inspections are necessary to ensure the heating, ventilation, and cooling systems are working as they should. The following are some of the things that you should be looking for in this regard:

• Air filters that need to be replaced
• Signs of leakage
• Broken pipes
• Water pressure
• Clogging

HVAC inspection and repair is not something you should do without the proper training. So, its best to contact a property management company or HVAC repair business directly.

Start the Marketing Process

Once you have ticked all the above, you can start advertising your rental property by creating an amazing listing ASAP. Market extensively in order to attract a large prospective tenant pool. Usually, the larger the prospective tenant pool the higher the chances of landing a great tenant.

Bottom Line

While getting your rental property ready to rent may mean spending money, the returns can be incredibly rewarding. But if you have further questions or need expert help in this regard, MTD Property Management can help. Get in touch to learn more!