Buying a property is like planning for a hike, and arriving at a destination while getting the property ready for the tenants is compared to the actual challenging hiking. Property owners should prioritize several things while preparing their house for rental, from clearing all taxes to installing proper safety measures.
Landlords should enlist the help of a good property management company to help them turn their investment into a rent-generating property. It is the smartest way to maintain their rental and earn consistently without spending much time or effort.
Essential Steps to Prepare your Colorado Springs Property for Rental
Below listed are the top steps to prepare your Colorado Springs Property for rental.
i). Hire a Property management company
Landlords should work with a plan and collaborate with the property management services to make their rental unmissable by the potential tenants. Rental owners must think like tenants while checking their property and other similar ones in their locality.
It will make them understand what their property is missing and the specialties of different properties kindling them to invest in the necessary changes.
Hiring a property management company makes all these tasks easier as there is an expert team to assist the rental owners in all their requirements. There are plenty of property management services across Colorado Springs, giving the rental owners ample choice to choose a company.
Everest is a well-known rental property management service with customer-friendly staff and branches in Denver, Chattanooga, and Memphis. Avalon Properties, Muldoon Associates, and Colorado Peak Real Estate are other famous property management companies situated in the area.
ii). Upgrade amenities
Upgrading the amenities in the rental property is a great way to add a new look to the home and attract new tenants easily. Install the latest bath fittings, lights, and kitchen gadgets to make the house look hi-tech.
Upgrade the safety features, and ensure the heating and cooling system works fine. Take a second look at the safety measures and add new touches to make the house look extra safe. Install new CCTV cameras if necessary, add alarms, motion sensors, and fire safety measures.
Talk with the property management company to narrow down the target customers, and they will tell you exactly what the tenants need. A student rental does not need child safety but requires good kitchen gadgets.
A posh house suitable for couples needs better bath fittings than motion sensors as it will be in a safe area. Upgrade essential things in your rental to get the best rent and long-term tenants who will maintain your house in great shape.
iii). Cleaning and repair
Be it old or a recently vacated property, focus on deep cleaning and fixing the repairs. Cleaning and repainting the rental creates a brand new look if the right professionals do the job. Property management companies often arrange for every nook and corner of the house to sparkle, including pressure washing the pavement.
Rental owners should team up to ensure the carpets get cleaned, the pavement looks spotless, the windows are new, and the floors look polished. Pay attention to fixing minor repairs and create a feeling of a brand-new house for the tenants checking it out.
Even an old, dingy house will look extra inviting if it gets cleaned appropriately, painted fresh, and decorated with some greenery. Ensure the attic, basement, and the less used areas also get adequately cleaned to get rid of unwanted debris.
iv). Add curb appeal
The house should attract the person right from the street with its aesthetic exteriors and clean surroundings. Property management companies specialize in adding curb appeal to any property, no matter how small or where it is located. Landlords should discuss how to create such an inviting look to their property with the company.
Several methods add curb appeal to the rental property, starting from making the outer doors and garage doors attractive. Adding plants on both sides of the walkway, landscaping, adding fancy solar light, or a white picket fence are other ways to make the rental look pleasing. A good coat of fresh paint with contrasting roof color and good lighting, adding a small gazebo with crawlers are a few other ways to increase the curb appeal.
v). Market the best features
Once all the work gets done to make the rental property look new, upgraded, and inviting to walk in, the rental owners should showcase their work to the right tenants. Property management services help screen tenants and arrange open house tours during weekends. Sometimes, they bring the potential tenants to see the property directly and explain to them the best features.
Advertising online and offline, listing in forums and social media groups about rental properties are a must to market the house.
Property management companies have professional photographers who can shoot the property from beautiful angles, making it look like a palace. Showcasing such attractive photos online and in other ads will attract more tenants, enabling the landlord to get better deals.
Tags: Buying a rental property , Property for Rental , property management services , property ready for the tenants