Whether you have just purchased an investment property or your current tenants are moving out the first question you as a property investor need to ask is…
Is Your Property Ready To Rent?
Renting out your house or unit involves a number of steps. You need to advertise and promote the property to attract people looking to rent a house or unit like the one you have, in a market of many rental properties. If you’re looking to achieve a rent of say $350 per week you are asking someone to pay $18,200 (plus 6 weeks bond of $2,100) which is $20,300 in the first year. You should ask yourself if you were looking to rent, would you be happy to pay this large amount of money to live in your property?
To increase the chances of prospective tenants wanting your property, using property managers from Salvan Property Management Adelaide is your first, most important step.
Salvan property managers can guide you on how to present the property in the best possible condition, so you maximise the return on your investment. Some of the key areas you should consider when getting your property ready for rent include:
How does the property look visually and how does it smell. A professional clean of the kitchen, bathroom, windows, walls, air conditioner vents, power points and oven can make a significant difference in appearance, especially if the property is old. Cleaning professionals can clean everything required for about $400, if you don’t want to clean your property yourself.
A fresh coat of paint on the walls, ceilings, doors and skirting boards if required can also give your home or unit a new lease of life, making it more desirable than a similar property down the road.
If you can’t excite family members to help and you don’t fancy painting yourself, Salvan can organise a quote for what’s required.
Neutral coloured curtains and/or blinds add style to a room and will harmonise with most furniture your tenants will be bringing in.
How does the carpet look? A carpet shampoo can clean your carpet if it looks dirty, but if it has become thread bare, now is the time to roll out new carpet.
Is the garden neat and tidy? low maintenance plants and river pebbles need next to no maintenance. Many types of roll out lawn such as Sir Walter Buffalo are drought tolerant, look good all year round and require little maintenance. Instead of dirt that gets muddy after a rain, tough instant lawn can lift your curb appeal.
Good quality, high resolution photos of your property are extremely important, even more so in this digital age with the internet. People looking online for properties to rent will be looking at the photos to help them decide whether it’s worth taking the next step and contacting Salvan Property Management Adelaide. If you don’t have current photos of the outside and of the different rooms inside to showcase your property online, discuss having some taken with your Salvan property manager, who can organise this for you.
Does your property lend itself to practical modern-day living? If the stove is over 50 years old, it may be worth looking at a new one. Living in Adelaide, during Summer its hot! Is the property airconditioned or have ceiling fans?
How secure are the front and back doors? Are the screen doors in good condition? Your tenants will want to open doors and windows to let fresh air inside, while still feeling safe and secure; especially at night.
Our statistics show over 60% of long term renters have pets, such as cats and dogs and pet friendly rentals Adelaide landlords to accept bring in higher rental income. If you do allow pets, make sure the fencing is adequate. Side gates should open and close with a lock for security and be child safe to help protect young children.
Renting out your property does have legal considerations. Property managers from Salvan Property Management Adelaide can advise property investors of their obligations and also their rights, handle all required agreements, so you can spend more time on what you do best, or simply relax.
Getting your property ready to rent out to new tenants is not difficult for experienced property managers from Salvan, who can not only advise you what you should, but what rent you should expect each fortnight.
Natalie Salvati (Principal of Salvan Property Management) is a registered Real Estate Agent (RLA 276287) with over 20 years experience in the property management market, looking after metropolitan Adelaide property investors.