Corken & Company has become a bit synonymous with our tagline: “Real Estate Solutions Without Limits.” If you have worked with us in the past, you know it to be true. Our dedicated team of real estate professionals has extensive resources and experience to help you buy and sell residential and even commercial property. What you might not know, is that our expertise extends to luxury leasing and property management. We honestly know no limits.
One of the smartest investments you can make in this active market is real estate. Purchase a second, third, or even tenth home and let the rental income flow. In the spirit of hospitality and opening your home up to long- or short-term occupancy, we wanted to share a few tips from Better Home & Garden Real Estate to help you get your home ready for renters.
The Outside
-Catch up on your exterior maintenance. Mow the lawn, clean the gutters, and replace lightbulbs or even update light fixtures.
-Paint your front door. Consider maybe a bright, classic, eye-catching red or a moody statement of black or dark blue. If you love the current color, maybe just give it a fresh coat. A bold and welcoming front door goes a long way to making your home stand out on a rental website.
-Clean your windows and the screens. In fact, if it needs it, you might as well power wash your entire exterior.
-Repair cement cracks and uneven areas in outdoor pathways. Check steps and retaining walls for any decay or erosion. Check that all railings are sturdy and secure. Your home should not only look well-kept, butt the property should be safe to navigate about freely. You don’t want to worry about your tenants tripping and injuring themselves.
-If you don’t already have keypad locks, consider installing them. This is an easy way to ensure tenants can only gain access during their lease or rental term. Once they leave, change the code and it’s safely ready for new renters. This is especially helpful for short term rentals because turnover happens so often. Either way, ensure access to your home is easy and secure. Locks on all doors and windows should be in good working order.
-For long term rentals, where tenants are responsible for lawn maintenance, stock the garage with the tools they’ll need to do so: lawn mower, leaf blower, shovel, etc.
The Inside
-Deep clean. We’re talking top to bottom: ceiling fans, blinds, walls, and baseboards. A clean, orderly home will attract clean, orderly renters.
-Depending on the terms under which you want to lease your property, retrieve and organize all of your belongings, especially valuable ones. Maybe install a safe or use a locked closet for safe storage. You may even want to remove all personal effects entirely from the premises.
-Do a check up on all of your appliances, this includes your water heater and HVAC systems. All should be clean and regularly maintained.
-Perform paint touch ups or if necessary, repaint. A clean bright white always feels fresh and inviting.
-Properly label your electrical panel and display information nearby of trusted companies to contact in the case of a heating or plumbing emergency.
-Replace the batteries and test your smoke alarms and carbon monoxide detectors. Put working fire extinguishers on every level of the house in a conspicuous place. A pleasant, but also safe environment for your renters is paramount.
-Make all other necessary repairs and updates.
Cross Your T’s & Dot Your I’s
-Research and compile the local rules and regulations on short- and long-term rentals in your area. Being informed now should help you avoid problems in the long run.
-If you have an HOA, be sure to share all of their rules and regulations with your renters. They must abide by them in the same way you do. As the owner, you are ultimately responsible to the HOA for your renters’ behavior, as well as costs.
-If you have a mortgage, inform your bank or lender when the property will and will not be occupied by renters.
We can imagine this all might start to feel a bit overwhelming. That’s where we come in. In a property management role, we deal with all tenant complaints, maintenance, and repairs.
We know good tenants are attracted to well-kept properties. We also know that no matter how lucrative, preparing your home for rent and sustaining a rental income requires time and energy you may be unable or unwilling to sacrifice. We don’t blame you! We’ll take it from here! Let Corken + Company bear the burden and offer you peace of mind. Give us a call to learn more about our luxury leasing and property management services!
