Getting your property ready for tenancy

First impressions are critical when a prospective tenant inspects the property.

First, decide what sort of tenant you are targeting:

THERE ARE TENANTS WHO WANT TO SAVE MONEY AND ARE HAPPY TO LIVE IN A PROPERTY THAT IS NOT IN A FIRST CLASS CONDITION. THERE ARE OTHERS, SUCH AS PROFESSIONAL PEOPLE, WHO ARE HAPPY TO PAY TOP RENT, BUT EXPECT THE PROPERTY TO PRESENT AT ITS ABSOLUTE BEST.

There is no doubt that well presented properties achieves top rents and usually attract the better quality tenants. That adds up to a higher investment return, together with fewer and shorter vacancy periods.

Here are some valuable property presentation tips: 

• Tend the gardens, mow the lawns and clean the windows, paths, gutters and outside paintwork. These are all thinks seen from the street, and you don’t want prospective tenants to dismiss the property before getting in the front door.
• Repair or replace leaking taps, sticking doors, broken light fittings, loose door handles, rotten floorboards, leaky gutters and torn flyscreens.
• If you are thinking about painting, only paint those areas that really need it otherwise it will be hard to find a place to finish. Use light, neutral colours as strong colours may not be to the tenant’s taste. If paint is generally in good condition, touch up the scuffs.
• Get rid of odours that you may not notice but prospective tenants will, such as cigarette or pet smells. Carpets, blinds and curtains to be cleaned, neither of which are very expensive. Clean all windows, sliding glass doors and tracks.
• Open the curtains and blinds to let the sun and the view inside. Nobody likes a dark house, and the view will make the rooms feel bigger (when space may be an issue)
• Have the property clean, tidy and uncluttered at inspection times.
• If your property has a pool, ensure the pool and the surrounds are sparkling clean. You want the prospective tenant to think is it an asset, not a burden. If the filter or pool needs professional repairs, it is better to do it now rather than putting it off.  The repairs are usually tax deductible. Ensure all safety issues are covered i.e. fencing to conform to Australian Safety Standard. We suggest all pool owners use a professional pool cleaner on a monthly basis.
• Ensure that all electrical wiring and power points are safe. This includes any electrical appliances to be included with the property. Have 2 RCD’s installed and hard wired smoke alarms installed at the property if not already installed. THIS IS MANDATORY!
• Take out comprehensive insurance cover on the property (including public liability and Workers compensation). You don’t want to be sued by a prospective tenant who accidentally injures himself or herself while inspecting the property.