You may already be thinking of posting an ad for your unit. But before you do, you need to make sure that the unit is in great condition. Doing so allows you to check if there are any maintenance or repair jobs in order. By prepping the unit before putting it out for rental, you can attract more prospects and possibly raise the lease. Here are a few simple steps in preparing your unit for new occupant:
Do a thorough inspection
Now that the unit is unoccupied, you get the chance to do a walk-through and see what damage needs to be dealt with before you even accept new tenants. Don’t simply check the paint, floor, doors, and windows. Check if all utilities are in good condition, if locks are working, and if anything needs to be replaced. For instance, you find that the floor now needs a replacement, then find a local company in Notting Hill that provides flooring. After the repairs and maintenance, make sure that you have the property cleaned and organized.
Call in a property inspector
Not all states require a property inspection before you accept new tenants. Some have this as a requirement every time a new occupant comes in, while others do this only every five years. Make sure that you complete the necessary inspections as soon as possible to avoid any complications in the future.
Review the lease agreement
Each year, make sure that you go over the formal rental agreement and make the necessary changes before letting new and old tenants sign it. This enables you to review each section and check if some clauses are no longer applicable to your current terms. Discuss the lease agreement with potential tenants and answer all questions they may have before finalizing the deal.
Update your locks
The old locks may still be in good condition, but you can never tell if the old tenant gave extra keys or kept duplicates before leaving. If this is the case, then your property and tenant are at a safety risk. For safety reasons, it is best to replace them with new locks. You can protect yourself from liability and give your new tenants peace of mind.
Create a move-in checklist
Before a new tenant moves in, it is a good idea to create a detailed move-in checklist. This includes all of the property’s condition in detail. You use this by allowing the new tenant to sign the checklist, which means that they agree and acknowledge that the state of the unit is as described on the list. You can use this in case they decide to leave though they have incurred damage, which makes them liable for the repairs.
Managing a rental property is hard work. Not only do you need to market the property and screen the applicants. You are also in charge of maintaining the property. By keeping this list in mind, you can make your rental unit ready for the next tenant in no time.
