If you want to earn some extra income, then renting out your house can be a great option. But, before you start finding tenants and collecting rent, there are some important steps you need to take to prepare your property for tenants. While you might feel overwhelmed with the entire process from beginning to end, it is essential in order to give yourself and your future tenant a better experience.
Our guide below will go over some practical tips to help prepare your home for the perfect renter.
Declutter and Clean Up
Before you begin showing your property to any potential tenants, you have to make sure it is clean and clutter-free. Start with a deep cleaning of the bathrooms and kitchen. Take the time to dust and vacuum every room, and declutter any unnecessary items.
If you find that you have too many items then a storage might be the best answer for you. Take a look at self storage tips Singapore to see what the best thing to do is if you decide to move your items into a storage. Although this is a good option you need to make sure you choose your storage wisely.
Repairs
Before you start renting out your property, you have to take care of any repairs. This can include fixing leaky faucets, repairing broken windows, replacing worn-out carpets, etc.
Paint
New paint will always make a world of difference in a room. Consider painting your walls a neutral color vs bold loud colors. This will help create a clean and bright space that potential tenants can envision themselves living in.
Appliances
If it has been a while since you changed out the appliances and they are outdated or look worn out, consider updating them. Trust us, this can make your property more attractive to potential renters and it will also increase the rental value of your property.
Keep in mind that the average appliance lasts around ten years. This is a good starting point to make an informed decision if you have to change your appliances.
Security
You also want to make sure that your property is secure. We recommend installing locks on every single door and all of the windows. You might also want to consider adding a security system or surveillance cameras to give potential tenants extra peace of mind.
Take a Look at Local Regulations
You need to be aware of any local regulations or requirements before you rent out your property. This can sometimes include taking out certain permits or licenses, following safety codes, or complying with zoning laws.
Property Manager
If you don't have the time or experience to manage your rental property all by yourself, think about hiring a property manager. A property manager can handle everything from screening potential tenants to managing repairs and maintenance.
Ready to Prepare Your Rental Home?
Preparing your house for renting will require some effort if you want to find the right tenants and get the money you are asking for, but it's worth it to attract quality tenants, increase the value of your property, and enjoy the benefits of passive income. With these tips, you'll be well on your way to a successful rental experience.
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