You’ve just purchased your first investment property or your principal place of residence is becoming your first investment property. Even if this is your 10th investment property, getting a property rental ready is vital before it hits the rental market. Here are some of our tips to think about before your property is ready to hit the market!
Walk through the property and make a note of all the things that require fixing – having a fresh set of eyes go over the property can help. Look out for leaking taps and toilets, doors not closing properly and even fly screens that are ripped. Some major items to be on the lookout for are wobbly stairs and even broken appliances. Once you have a list, consider having the items repaired or replaced. Also look to obtain a water efficient certificate to on-charge water consumption to tenants – without this certification a landlord cannot charge water usage to tenants.
Most tenants will prefer a property which has adequate security, whether this is keyed window locks, dead lock doors, security screens or a 5 star back to base alarm system. Fly screens might provide security from the creepy crawlies but they certainly don’t provide any further security than that. Consider replacing fly screens with security screens and whilst security screens probably won’t increase the rent by much, it will provide peace of mind for your tenants.
When it comes to fire alarms in Queensland, under new legislation all tenanted properties must have interconnected alarms. If the property has recently been purchased, then the upgrade would have been required prior to the sale of the property. If the property has been in the family or inherited, you will need to ensure the alarms have been upgraded prior to tenanting. To find out more, head to QFES.
Carpets are great when they are new. Not so when they are worn and stained. Do a health check on the flooring, particularly carpets, and consider whether they need replacing prior to a tenancy agreement commences. A great alternative to carpet is vinyl planks which has a longer life span, is easier to clean and is still cost effective.
Privacy is important and windows should have some form of covering whether it be blinds, shutters or curtains. If there are blinds or curtains, check the cords as these are a strangulation hazard for children and any good property manager will request a Certificate of Compliance.
Once you have checked through your investment property, its a great idea to have a property manager view the property and provide you with any tips or further solutions to making your property rental ready. The team here at Green Kite Property Management are only more than happy to view properties prior to placing on the market. Its also a good idea to have a read of our property management fees to get a better understanding of how property management fees work.
If you would like a free appraisal prior to going to the rental market or need help with getting your investment property rental ready, then give Green Kite Property Management a call on 0421 757 100 – we are only more than happy to help you achieve your investment goals!