Lease your property to new tenants in lightning speed with this six-step checklist to presenting your investment property.
There are many factors that determine how long it will take to lease your investment property. Your property manager should be able to give you an accurate estimate based on the rental demand in your local market and the interest your specific property is likely to attract.
However, there are several things you can do to speed up the process and get your rental income flowing sooner than you may think. Here’s how to present your investment property to attract a tenant in record time…
- Make it sparkle
Give your investment property a deep clean to present it to potential tenants at its best. If the property has been rented previously, steam clean and deodorise carpets, clean curtains and light fittings, and scrub the kitchen and bathroom. Presenting a spotless property will not only impress tenants, but it also sets a high standard for how you expect the home to be cared for.
- Focus on the details The small details make a big difference when potential tenants are inspecting your property. Fix marks or holes in internal walls, address any carpet stains or chipped floor tiles, and make any repairs that are needed. Tenants will notice if your property feels fresh and new with no existing damage.
- Don’t forget the outdoors Refreshing a tired old garden with some new plants is an inexpensive way to brighten up your property. And make sure lawns have been mowed, paths have been weeded and fences are intact and freshly painted to lift the mood of the home and impress potential tenants.
- Exercise your green thumb Talk to your property manager about the possibility of a small renovation that’s targeted to appeal to your market. For example, renovating an old kitchen or bathroom may justify a significant rent increase and will pay for itself – and then some – in the long run.
- Offer some inclusions Including a washing machine and dryer, dishwasher and even fridge can be a powerful incentive for prospective tenants – especially when they are comparing your property to others that don’t come with added inclusions.
Keep it neutral
A coat of fresh paint will do wonders for your investment property – but avoid the temptation to create bright feature walls. The key is to appeal to the widest range of tastes, so keep your colour scheme neutral so you don’t turn off any potential tenants.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.