A number of homes we work with are properties belonging to first-time investors. Either they have a house they purchased and they don’t want to sell it, or they are accidental landlords who inherited a property or adopted it through marriage. They want to transition the home into a rental property. There are a few things to consider before turning the property into a rental and moving in tenants.
Invest Money in Repairs and Maintenance
If you’ve lived in the house for a year or five years or 10, you really get to know the nuances of the house. You know that the faucet needs to be turned a certain way or it won’t turn off. Or, maybe there’s a leak in the backyard that you manage with a bucket. Perhaps you do beautiful landscaping in the front of the house with some planters, but you don’t have a sprinkler system or a drip system, so you go out to water everything yourself. Or, you have a door that only locks when you push it a certain way. You deal with these things without thinking about them when you live in a home. It’s not a big deal
But, when you move a renter in, you need to give the property an inspection with a fresh set of eyes. Think about when you stay in a hotel. You expect the faucet to work and the doors to lock and the shower to work. You want windows to open and close and lock properly.
It’s the same with your rental property. When someone moves in, they expect things to work. They don’t want to have to do all the small things that you did to make the house comfortable. So, put together a list of small maintenance items that you’ve been meaning to get to over the years. Taking care of those items will make the house comfortable and worth something to a renter. Gather the resources you need to make the updates and repairs.
Phoenix Property Management: Cleaning and Painting
When is the last time the house was painted inside? Before you put it on the market, give the place a fresh coat of paint. Fill and patch any nail holes in the walls. If you don’t have paint to match, get new paint for an entire room.
Do a thorough job of cleaning, too. Scrub the baseboards and the cabinets and the appliances. Make the place look nice. If your renters see that you have maintained the property and you care about it, they, in turn, will care about it as well.
These are some tips about getting your home prepared to be a rental property. We can help you with all of these things and guide you through these projects. We can also provide resources and help you take care of your to-do list, so please contact us at Keyrenter Premier Management. We’d be happy to be your Scottsdale property management resource.