Renting out your house is a great way to get started with real estate investing. Before you begin, you will have to prepare your home for tenants, and that can require a little more work than you might expect. But knowing what to do (or having a good property management partner on your side) can help you get through the process easily and quickly.
Perform Maintenance and Repairs
Your new tenants will expect the house to be move-in ready, so make sure the home meets rental property safety standards. This is a good time to test or install smoke detectors in bedrooms, the kitchen, and on every level of the house.
Install carbon monoxide detectors near the furnace, clothes dryer, and water heater. Provide fire extinguishers on every floor as well.
Additionally, address any maintenance issues. Tighten safety rails, replace flickering lights, and repair broken or leaky windows. Conduct the same repairs and updates you might follow before listing your home for sale.
Deep Clean the Property
The next step is to clean and sanitize the home. Launder rugs and curtains that will remain in the property. Steam-clean the carpets and upholstery if you’re marketing the home as a furnished rental.
Clean and sanitize all countertops, bathroom and kitchen fixtures, appliances, and any other commonly touched surfaces.
Check Out Appliances and Equipment
You can avoid immediate repair requests and complaints by making sure everything in the home is in good working condition. Test the HVAC system, washer and dryer (if provided to the tenant), kitchen appliances, and other equipment to make sure everything functions properly.
If it has been more than five years since your last electrical system inspection, this is the best time to schedule an appointment.
Change the Locks on All Doors
When you’re almost ready to market your rental property, change the locks on the doors. If you want to install a keycard entry system or smart locks, this is the ideal time to consider that update. Using an electronic entry system will make it easier to modify access when changing tenants.
Discover the Advantages of Professional Property Management
Reliable Property Management, Inc. provides a full range of services to help you be successful in owning a profitable rental property. To learn about our full range of services, call us at (443) 869-3799 or contact us online.