Saturday, October 15, 2016

Tenancy Tips: Prepare a Property for Rental

Decorating your own home is always fun. But there's something about getting to do someone else's. When you own property that you want to lease to others, you get to do a combination of the two. The property belongs to you, but it's going to be someone else's home. Getting it ready for tenants can be more complicated than you might think. Although you might want to go to town on the decoration, you have to think before you start on the interiors. There are other things to take care of too, before you can move anyone in.

Decorate Suitably

When you're going to rent out a property, you might want to have fun with decorating. But it's much more important to think practically when you prepare the space. Whether you're renting it out furnished or unfurnished, you have to consider maintenance. It's easier to maintain the property if you keep it on the plainer side. Neutral colours and simple furniture can help to make it more suitable for renting. You might also want to allow your tenants to decorate it as they want to. You'll find that a more neutral home can help to attract potential tenants. Anything more could put people off.


Get Someone to Manage Your Property

Being a landlord can be more stressful than you might think. It's even more difficult if you have multiple properties. There are many administrative tasks that can take up your time. You have to respond to contact from tenants and make sure you take care of maintenance issues. If you need help, you should consider property and asset management. You can have a professional firm take care of issues such as renewing tenancies and managing expenses. They could help you find new opportunities and grow your profits too.

Ensure Safety

It would be fun if preparing a rental property was all about decorating, but you have to think practically. One of the important issues is the safety of the property. It needs to be habitable and follow any safety regulations required of properties for rent. It's essential that landlords or property managers are aware of the law and how to make a home safe. Improving safety could include installing fire alarms, making sure exits are secure, and more. You have to be prepared to sort out any maintenance issues as soon as possible, especially when it comes to things like gas and electricity.

Spruce Up the Property Exterior

Before you have potential tenants come to see the property, make sure the exterior looks good too. It will be the first thing they see when they arrive, so you need to make an impression. At the least, it should look tidy and clean. Make sure you repair anything unsightly and tidy up any outdoor space, such as gardens or patios. A coat of paint for the windows and doors can make a significant difference to the overall look of the property.

Preparing a rental property can be fun, but the focus is on practicality. Don't get too carried away with personal touches.

xxo
Kim

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