Ensuring your property is ready for the rental market.

As a Landlord, you will need to ensure that before you put up your property on the rental market, that it is truly ready for renting and has the ability to attract potential renters. If your property doesn't meet a good standard then putting it on the market can essentially be seen as a waste of time. You will either not get any prospective tenants or you will but there will be continuous maintenance issues or just general issues with the property. Therefore, it is better to follow this blog and create a rental that you are proud of. 

The property that you wish to rent should; first of all be checked for any repairs needed. It is essential that you carry out these repairs within the home to allow the tenant a safe and functional space. There are so many examples of repairs that you should be carrying out where needed. For example; fixing any leaking taps, broken fixtures and ensuring any white goods that you have supplied the tenant are in working condition. In addition to these fixtures, your should check that the property has the correct amount of smoke alarms installed (one on every floor - at a minimum - in the U.K) these alarms need to be tested and working, heating systems and any cooling systems should also be checked. 

Before you seek to put your property on the market, you should ideally refresh the property. This details, putting a fresh coat of paint over worn areas, cleaning the carpets, polishing any hard floors and cleaning the windows. All of these things can transform a property and make it look far more welcoming and appealing to a wider range of tenants. If you also begin the tenancy with a high expectation of cleanliness than your new tenants are more likely to up keep this standard. 

If your property has a space outside, for example; a front garden. This is the first thing you should work on, especially as it is the first thing that the prospect tenants will see. Making these spaces presentable may mean that you need to mow the grass and remove any weeds and clutter off any pathways. This shows the tenant that the property they're about to walk into is well looked after and in good condition. Further enticing them to rent out your property.

If you are a Landlord who rents out furnished properties, you should ensure that the furniture that you are providing has a more modern feel to it as it is the most appealing style to many. Having modern light fittings, energy efficient appliance and extra storage will upgrade your property to the next level and may also cut down energy costs. 

Another essential aspect of renting is ensuring that your property meets the legal requirements, it is so important that it meets your local safety, health and rental regulations. Meaning that you must be able to supply a EPC, EICR and Gas certificate to the tenants. In England it is required by law that your EPC is at least a C. 

Lastly, you must make sure that when you are finally ready to place your property on the market, that it is set to a fair price. When rentals are priced too high, you drastically lower your pool of customers and set yourself up for rent arrears. As a Letting agency, we suggest you work with a Agency, property manager or use valuation tools to know that your price is fair. 

Additional reads:

A Letting Agent: Why Use One?