Preparing Your Investment Property for New Tenants- Our 7 Point Checklist
Congratulations on your investment property!
Whether you've just acquired it or your current tenants are moving out, preparing your property for new tenants is a crucial step to ensure a smooth and successful rental experience.
A well-prepared home not only commands a higher rental income but also attracts responsible tenants and minimises potential issues down the line.
In this article, we'll walk you through a 7-point checklist to make your property tenant-ready.
1. Repairs and Maintenance
Before new tenants move in, it's essential to address any repairs and maintenance issues. Conduct a thorough inspection of the property, inside and out. Look for dripping taps, loose doorknobs, malfunctioning appliances, and other minor issues that might have gone unnoticed. Addressing these small repairs now can prevent them from escalating into bigger problems later on.
2. Cleaning
A clean property sets the tone for a positive tenant experience. Give the property a thorough cleaning, including all living spaces, carpets, windows, and flyscreens. Pay special attention to kitchens and bathrooms, ensuring they are spotless. Presenting a pristine property establishes a high standard that you can expect your tenants to maintain throughout their lease.
3. Presentation
Remember, you're effectively marketing your property to potential tenants. Curb appeal matters. Ensure that the exterior of the property is inviting and well-maintained. Trim the lawn, tidy up the garden, and clean the gutters. A well-presented property creates a positive first impression and demonstrates your commitment to maintaining the property.
4. Value Add-Ons
Consider making strategic improvements that enhance the property's appeal. A fresh coat of paint can instantly rejuvenate the space, and updated light fixtures can modernise the interior. Upgrading key areas like kitchens and bathrooms can significantly increase the property's value. Installing amenities such as a dishwasher or a reverse-cycle air conditioner can attract tenants seeking added convenience and comfort.
5. Minimum Standards
Familiarise yourself with the minimum standard requirements for rental properties in your area. Ensure that your property complies with these standards. This includes providing adequate heating, appropriate window furnishings, and functional smoke alarms. Meeting these requirements not only keeps you in compliance with the law but also ensures the safety and comfort of your tenants.
6. Thorough condition report
Preparing a detailed condition report is a must prior to a new tenant moving in. A condition report is an official record that describes the condition and inventory of the property before a tenant moves in and is a requirement if you are to collect a bond from your tenant.
7. Tenant Communication
Open clear lines of communication with your potential tenants. Provide them with comprehensive information about the property, lease terms, and any expectations you have for maintenance and care. Clear communication from the beginning helps establish a positive tenant-landlord relationship.
Preparing your property for new tenants requires careful attention to detail. By addressing repairs, cleaning diligently, enhancing presentation, considering value add-ons, meeting minimum standards, and fostering effective communication, you create an attractive and desirable rental property. Not only will this approach fetch a better rental income, but it will also attract responsible and respectful tenants, ensuring a hassle-free rental process for both parties.
Remember, investing time and effort into preparing your property sets the foundation for a successful and profitable rental venture. So, roll up your sleeves, follow this guide, and get ready to welcome your new tenants into a well-maintained and inviting home.
Contact the team at MIX Property today for a free no no-obligation rental health check on your investment property.
P.S. Did you know we offer a service guarantee? If at any time you're not happy with our property management services, notify us and we'll refund the last 3 months' commission PLUS you're free to transfer to any other managing agent with only 24 hours' notice.
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