Wednesday, 10 August 2016

How to secure the best tenant to take care of your investment property?

Making the decision to purchase an investment property is a sizable one. Faced with the up-front costs of a mortgage, taxes, insurances, property management service fees and repairs, it is important to attract the best tenants to lease your home and keep it in a great condition.

So how do you ensure a great tenant leases your property?

Other than employing the services of an experienced local real estate agency to manage your property, a clean, tidy and well-maintained property priced at a reasonable rent will appeal to great quality tenants.

As a general standard here at Prudential Real Estate we advise our landlords to present their property in the best manner possible to attract the right tenant. Poorly presented properties run the risk of failing to attract good tenants, leaving only less qualified tenants to apply.

Here is a quick checklist to help you present your property at it’s best:

  • Spruce up all around the home. Keep lawns and shrubbery trimmed and free of clutter. Keep the garden beds weeded and mulched.
  • Fill potholes in your driveway and tidy up walkways
  • Clean off your outdoor entertaining areas
  • Clear everything out of the garage (and we mean everything!)
  • Straighten gutters, the mailbox, the fence and other things that sag
  • Fix doorbells, tighten loose doorknobs, and oil squeaking hinges
  • Repair broken/cracked windows and shutters
  • Clean everything in and out of sight. Shampoo carpets and rugs and wax floors. Wash or brush walls.Wash windows and clean blinds/draperies. Remember the ‘white glove’ test.
  • Bathrooms are very important. These should be in sparkling condition including walls, floors, sinks etc. Check the shower recess is free of soap scum and have a look at your vanity; repair doors, knobs and water damaged sections.
  • In the kitchen clean up your countertops and cupboards, fix doors, handles and knobs, scrub out the “under sink” area and inside drawers.
  • Completely degrease the oven. Let the kitchen smell fresh and fragrant
  • Remove debris (dust, flies, moths etc.) from all light fixtures
  • Get rid of all stains and install new washers and dripping taps  
  • Repaint where needed. Freshly painted properties rent faster and to better tenants for more money.
  • Fill any ‘holes’ in your gardens with new plants
  • Check every light switch and bulb to ensure they all work correctly

The cleaner and better presented you make the property, the more likely you are to find a great tenant who will maintain the condition of the home.

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