8 Tips to Prepare a Home for Rental Part 1 of 2 The number of renters in the United States—currently at 40 million—is expected to increase by between five million and six million in the next decade, according to the National Association of REALTORS®. That’s opportunity if you want it. Yet before you post a ‘for rent‘ sign and advertise your rental property, take time to prepare your place. These steps will help you prep your rental property and attract premium tenants. Prepare a Home for Rental 1. Inspect Your Home When your home is empty, thoroughly inspect it and repair major problems. Address potential problem areas including roof leaks, sagging or clogged gutters, driveway cracks, leaky faucets or pipes, electrical outlets, and burnt-out light bulbs. Also, inspect your floors to make sure they are sound. 2. Think Safety Tenants will feel more at ease if they have a safe place to live. If you’re renting out a portion of your home, secure and separate the rental area from the rest of your home. Ensure smoke detectors are in good working condition. Equip the kitchen and each floor of the home with a fire extinguisher. 3. Clean Up Nothing will turn off a potential renter more than a dirty place. Clean the floors, windows, and blinds. Shampoo the carpets to remove stains. Repaint walls with a neutral color to make the rooms seem cleaner and brighter. 4. Evaluate Your Furnishings and Appliances Cleanliness applies to furnishings and appliances, too. If you have valuable furnishings or fixtures you don’t want stolen or damaged, remove them. If you are providing a furnished home, make sure everything you provide is in working order. If you are providing appliances, ensure they’re clean inside and out. Keep in mind, renting a home with appliances may allow you to boost the rental price, but it can cost you if the appliances require frequent repairs or maintenance. Turnkey rentals, or passive investment opportunities available, learn more 877-452-6569 x115
Posted on: Fri, 08 Aug 2014 17:00:01 +0000
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