By Ros Burton (Principal – The Real Estate People)
Renting out an investment property for the first time can be a daunting prospect, but it doesn’t have to be overwhelming. Follow our top seven tips to make the process a breeze and get in touch with The Real Estate People today!
1. Check out comparable homes
Looking at comparable properties on the market will give you an indication of realistic rental expectations. It will also reveal what sort of improvements might be necessary to make your property a competitive contender in the current market.
2. Maximise kerb appeal
Ensure that your property’s exterior is clean, tidy and in good repair for a positive first impression. Some fresh paint, a manicured front lawn and a healthy garden creates a welcoming atmosphere and ensures any viewings will start off on the right foot.
3. Clean, clean, clean!
Invest in a professional deep clean of your property before having photos taken or setting any inspections. A fresh, clean space will always be more inviting to tenants and shows that you are a conscientious and considerate property owner.
4. Make repairs
Walk through your property with a critical eye and make an honest assessment of its condition. Tackle any repairs before photographing and listing the property for rent – all plumbing and appliances should be in good working order, doors and windows should be functional and safe.
5. Upgrade interiors
Improving the cosmetic features of your property is equally important to maintaining its functional condition. Tenants are more willing to sign a lease with a more modern property, such as with modern appliances and finishes. Tenants are far more likely to picture themselves living in your property if it is decked out in a fresh, neutral colour palette rather than garish bright colours.
6. Garden maintenance
Sorting out long term garden neglect can be a very costly endeavour, so consider hiring a gardener to make upkeep easy. Renting a home with a low maintenance garden they don’t have to worry about maintaining can increase your property’s appeal to tenants immensely and gives you peace of mind.
7. Use a property manager
Managing a rental property is a full-time job, something most property owners already have! Property managers are experts in their field, and enlisting their services can save you time, money, and stress. An experienced property manager will be able to assist in preparing your property for rent by organising quality photography, interior styling, property inspections and rental agreements. They understand what tenants are looking for, are up to date with tenancy laws, and specialise in helping you get the most out of your investment property. Enlisting a property manager eases the stress of self-property management – the manager takes care of everything whilst keeping you in the loop with prompt communication.
Here at The Real Estate People, we are passionate about great service and helping our clients achieve their investment goals. Contact us today on (07) 4633 8899 to find out what we can do for you.