How to prepare your property for the rental market
When it comes to owning an investment, a well-prepared rental property attracts renters faster and also commands higher rental returns.
But what exactly is involved in readying a property for the rental market? Because it’s not just about making the property attractive. It’s also about ensuring the residence is safe, secure and complies with the law.
Here’s our step-be-step guide to getting your investment property market-ready with insights that protect the residence and maximise appeal.
A property health check
Long before you take your rental property to market, it’s critical to have a solid understanding of its condition.
Inspect the property thoroughly, assessing its structure, safety and functionality. In safety terms, this means looking at things like smoke alarms, electrical safety, pool fencing and locks.
Structure wise, it’s about ensuring everything’s up to par, especially when it comes to potential building issues such as wood rot, rising damp, termite damage, roof leaks and sinking footings.
This preparation also involves addressing any required repairs, such as leaky taps, broken blinds, and cracked tiles.
A deep clean and tidy garden
A clean, tidy and clutter-free property creates a positive first impression for renters. It also sets the standard of how you want your investment to be looked after and maintained.
When cleaning the property prior to renting it out, focus on kitchens, bathrooms, windows, and carpets. These are the areas renters notice most.
Meanwhile, professional cleaners and carpet services might be worth considering in a bid to give your investment a thorough, professional clean.
A quick refresh
Regardless of the investment property’s age, every rental benefits from an occasional refresh, and the reality is first impressions matter just as much in rentals as in sales.
Cast a critical eye over the residence, gauging its general condition and signs of age.
Fresh paint, neutral colours, and updated fixtures can really give a rental a new lease on life while also increasing its perceived value.
Compliance, certificates & legal essentials
The safety and security of rental properties has been a hot topic in recent years, with states such as Queensland and Victoria bringing in minimum housing standards.
Before you bring your rental to market, review current state or territory legislation in the knowledge safety standards vary.
This is particularly the case when it comes to things like smoke alarm testing, gas/electrical checks, and pool safety certifications.
Meanwhile, good insurance is a must. Look for policies that offer specific landlord protection, covering the property, public liability, and also extras such as loss of rent.
The right property manager
Partnering with the right property manager is essential when it comes to protecting and maximising the return on your investment.
A proactive property manager not only assists with compliance, marketing, renter selection, and collecting the rent, they also protect your property from damage or loss of income in the long-term.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
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