EP 103 | How To Prepare Your Rental Property

For this episode, instead of the usual Highest and Best episode we release on Wednesday’s, I decided to do an #AskMarcAnything episode. As a property manager, many landlords will ask me how to properly prepare their rental to list on the market. It’s very similar to preparing your home to sell. In this episode, I break down some techniques and give you tips on how to prepare your rental property whether it is a single family home, condo or multi-family building.

RENTING OCCUPIED OR VACANT

Always Rent Vacant

Property is empty, appears bigger

No mess or personal distractions to prospects

Awkwardness of walking into random people’s home

Allows for simple and good looking 3D virtual tours

Allows for staging

Easy for prospects to measure

Easier to show = More showings = If more demand then higher price

Occupied By Owner

Sometimes due to budget or other reasons, cannot vacate prior than being on market

If you have a manager, leave during showings

Similar to selling home

Allow flexible showings times

If not flexible on time, create open house blocks

Occupied by Tenant

Reduce turnover by showing a rental occupied by tenant

Troublesome if tenant refuses entry = notices = will you evict?

Difficult setting up showings

Same issues as previously mentioned with owners

CURB APPEAL AND INTERIOR APPEAL

Curb Appeal

Lawn - Cut It

Landscape - Keep landscape looking good. No need for big upgrades

Trend is moving to low maintenance

Drive up to other rentals or homes for sale, take photo and compare to your home

Exterior of building

Windows/Doors/Garage Doors and anything visible

Multi Family (MF) - Building appearance to neighborhood

Interior Appeal

If vacant, look at needed repairs

Colors - Dont forget paint job and neutral colors

Staging

Matching Look - Cohesive

Matching features - fan in each room? Cable in each room?

 

PROPERTY CLEAN UP

Exterior

Cut the lawn & handle landscaping

Trim bushes and cut back tree branches

Schedule landscaping as owner - avoids violations & headaches

Garbage/debris cleaned up

Replace anything missing - garden lights/backflow caps

Interior

If occupied, clean up all mess (clothes, toys, counters, etc)

If tenant occupied, difficult - cant force cleanliness

Broom swept condition is good enough, full cleaning prior to tenant

Light bulbs

 

HOMEOWNER ASSOCIATIONS

 

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