If you own more than one house (either through buying a new one or inheriting a home from a relative), and you wish to make money out of the “extra” house, your two options are to sell it or to rent it out. Many homeowners opt to rent out their house for practical reasons: they have plans for it in the future, it’s sentimental, or they’re just waiting for the home’s value to increase significantly in a few years. Mind you, renting out a home is a huge commitment as you’ll have to deal with the financial aspects, marketing it to tenants, collecting rent, confront non-paying tenants, and so on.
So, once you’ve finally decided to become a landlord, your first big hurdle is in preparing the house (physically). That said, let’s take a look at vital tips you should remember when preparing your house for rent, not only to attract potential tenants but be able to seal the deal with it just with the house itself:
The main purpose of a home is to have a safe and secure place to rest your head in. So, if your rental property is filled with various health and life hazards, don’t expect to seal the deal with potential tenants — although, it’s still possible that you’ll have some people who’d want to rent your unsafe home, these might not be the tenants you’d want to have. Inspect every inch of the house, from the walls, floors, stairs, loft, and so on. Better yet, hire a professional to inspect the home and see which repairs are needed to make it a safe place. In some cases, you may even need to renovate certain parts of the house which, although costly, can go a long way when you’re renting out the home (and eventually selling it, should you opt to). Additionally, don’t forget the exterior of the home; check the roofs, walls, path walks, decks, and everything in the property that may require repairs.
Once all the necessary repairs and renovations are done, your next step is to clean up. Even if you don’t allocate a lot of money to beautifying the place, many tenants would prefer a clean and simple home over an extravagant-looking yet dusty and cluttered home. Clean everything from top to bottom (and sides) — floors, ceilings, walls. Remove any stains and dust that you can see. The exterior of your home would also benefit from tidying-up. Take note of the exterior walls of your home, as they may need to be pressure-washed to remove layers of dust, mud, and dirt that may have accumulated for years.
When it comes to renting out a property, first impressions are everything. So if you’re looking to quickly rent out your house, making it look more attractive can go a long way in doing so. However, you have to make smart choices when it comes to decorating and painting your home. It should be pleasing yet neutral enough to have a general appeal. Don’t impose a specific style as it may turn off other potential tenants. And don’t forget your lawn, garden, landscaping, and plants. When it comes to first impressions, it’s not only the façade of the house they see but also the greenery in front of it. It’s also a good idea to contact your local professional tree care services in Guildford to trim, prune, and treat (if needed) any trees in the rental property as well.
All you need to remember when it comes to house rental prepping is to make your house safe, attractive, functional, and welcoming to your potential tenants. And these tips will be able to help guide you in achieving that goal. Before you know it, you’ll have tenants applying for it left and right.