Get Your Home Ready to Rent with These 5 Steps
May 1, 2020
Thinking of renting out your home but aren't sure where to start? We've got you covered. When turning your property into a rental, you want to make sure it's in great shape and "rent ready". This means that everything is in good working condition, it's clean, and you've made the necessary repairs. Let's dive into the details with five specific steps to ensure success.
1. Deep Clean
Get your home professionally cleaned before tenants move in. This means scrubbing baseboards and getting carpets shampooed. Every area should be sparkling. A perfectly clean property is easy to promote. It also sets expectations in terms of what your property must look like when renters move out.
2. Prepare Utilities
If you have an autopay set up for your utilities, this should be cancelled once a tenant has been placed. Utilities such as electric or gas should have a Continuous Service Agreement completed to assure the home has electricity and gas if it is vacant. Propane tanks should be filled or at least ¾ of the way full and tenants are responsible to have the same amount of propane in the tank when they vacate. If on a septic, make sure that it is serviced before a tenant moves in so that you can guarantee it functions properly.
3. Check All Appliances
Check your appliances' warranties. If you are using a property manager, always let them know if you have appliances under warranty and give them that information. That way, if something comes up, the property manager can take informed action. Change furnace and fridge filters before a tenant moves in and leave at least one extra filter in the home for routine changing.
4. Provide Info About Any Additional Services
Some homeowners include landscaping services in their rental agreement. If you want to do this and you are using a property management company, make sure your property manager knows the landscaping company’s contact information. This will make it easy for them to discuss scheduling and to inform the tenants.
5. Make Safety a Top Priority
Make sure all personal items are removed from your property unless there is a way to secure those items from damage or theft. Household items such as paint, filters, lightbulbs, or yard tools can be left for tenant use if you want, but all personal items should be removed.
If your home has a chimney, it should also be cleaned before the first tenant moves in. Once a tenant is placed, it normally falls on the tenant to have the chimney cleaned upon vacating. This can change with owner preference but make sure you are clear about what you want from the beginning. It's also important to change out any fridge filters and heater filters and flush out the septic system.
If your home has a chimney, it should also be cleaned before the first tenant moves in. Once a tenant is placed, it normally falls on the tenant to have the chimney cleaned upon vacating. This can change with owner preference but make sure you are clear about what you want from the beginning. It's also important to change out any fridge filters and heater filters and flush out the septic system.
And, for those of you who live in Bremerton, Washington, you will need to apply for a landlord license. The fee is $75 per year and your property manager can help you set this up in most cases.
How a Property Manager Can Help
Getting your property ready to rent can feel overwhelming but a highly skilled property manager can help. They will drastically reduce your to do list and take work off your plate every step of the way. They provide a range of benefits
including: marketing your home, managing tenants' concerns, and maintaining or increasing your property's value. To find out more, feel free to contact us.
Information in this article was provided by Crystal Avery, one of our property managers who works with clients across Kitsap County, Washington. For more information about her, check out our Q&A.
Information in this article was provided by Crystal Avery, one of our property managers who works with clients across Kitsap County, Washington. For more information about her, check out our Q&A.
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Renting out your home often comes with a mix of emotions and expectations. Managing your expectations as the owner and those of your tenants is a crucial part of the rental process. Here are some tips to help you achieve successful outcomes. Understanding the Rental Market Before renting out your home, do your research. Look at your local rental market. Are there a lot of homes for rent in your city? What about in your neighborhood? Do they sit unoccupied or are they rented out quickly? What is the average rental price for a home that is similar to yours? It’s important to set competitive rental prices while understanding supply and demand. If you work with a reputable property management company that has local expertise, they will know the market well and will properly price your rental. Preparing Your Home for Rent Ensure your home is rent-ready by prioritizing safety. As a landlord, you will be required to keep the premises fit for human habitation . This Washington state law encompasses many safety standards and home repair projects. For example, landlords must make sure that carbon monoxide and smoke detectors are in working order, as well as major electrical and plumbing fixtures and appliances. Now is the time to make any necessary repairs and deep clean your property. Whether you are renting your home furnished or unfurnished, everything should be in good condition. Check out our article for tips on preparing your property for rent . Additionally, you may want to consider some budget-friendly upgrades to enhance your home before you rent it out. It can increase the value of your home and attract more attention. Setting Realistic Financial Expectations While an investment property can be financially beneficial, we highly recommend calculating potential rental income and expenses. It’s important to understand the costs of property management and maintenance. Also, you’ll want to prepare for potential vacancies and financial fluctuations. Consider the legal side of rental properties as well. Every landlord should be familiar with local, state, and federal fair housing laws . For instance, Washington has specific laws about how security deposits are assessed, held, and returned to tenants. Increasing the rent or terminating a lease requires adherence to specific guidelines. Therefore, you’ll want to take time to do your research and consider these legal factors when pricing your home for rent . If the legal side of property management or the time required to effectively manage a rental seems overwhelming, you may want to utilize a property management company. While this does come at a cost, it can be beneficial , saving you time and money by offering professional marketing, preventative maintenance, built-in tenant screening, and property managers who are well-versed in landlord-tenant laws. Check out our local experts here at Windermere Property Management . Communication and Relationship Management After screening potential tenants, conducting credit checks, and calling references, it is essential to foster positive landlord-tenant relationships with your new renters. This begins with clear, open communication. Setting expectations with tenants from the start paves the way for transparency and builds trust. Renting out your home requires both project management and relationship management. This means that you are ready to handle sudden, needed repairs, answer contract questions, and deal with unexpected issues in a prompt and professional manner. Long-Term Planning It’s wise to set long-term goals for your rental property from the start. Renting out your home for a couple of years while you’re living elsewhere comes with one set of expectations and requirements, while renting it out as passive income for the next 10+ years is very different. Additionally, if you plan to sell it within the next few years, you will also have certain objectives to meet regarding upkeep and preserving or increasing its market value. Your local rental market may also change, so creating a plan that is both proactive and flexible is the key. If you have any questions, our property managers are here to assist you.
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