Rental property management can be made a lot easier with proper preparation. This preparation will not only save you future headaches but it will help get your property rented as quickly as possible.
The main idea you should have in the back of your mind while preparing your Nashville property to be rented is that you are trying to convince someone to live here. Think of it like selling a home.
What would you like to see if you were buying a home?
A well-maintained property will attract better tenants and fetch a higher price. This is an investment — you want to get the highest return possible.
Here are 6 tips for preparing your Nashville property for rentals:
The first step is to take an honest inventory of your rental space. Take your time and walk the property, looking for anything that needs to be updated, repaired, or replaced. This will basically set the stage for every step after this, so it’s important to be thorough.
Inspect every detail so there aren’t any surprises when a tenant finally moves in. It’ll be much easier to perform the repairs before anyone shows up, and it’ll make your tenant much happier to avoid dealing with broken items.
Replacing items such as outdated cabinets should be weighed against the cost. Remember, this is an investment. You don’t want to throw a lot of money into it at the very beginning, but you shouldn’t be cheap about it either. Decide if updates are necessary to attract quality tenants or if it’s something that can be put off to a later date.
A fresh coat of paint can go a long way to revitalizing a space. Anyone experienced in rental property management knows the power of paint in upping the appeal of their Nashville property.
Walls can become dirty over time if they aren’t maintained properly. Old paint can become chipped and cracked which makes your property look old and run down. This is obviously a big turn off to potential tenants.
Be careful about which colors you choose when painting the various rooms of your property. You should use neutral colors like white, cream, and grey. Vibrant colors run the risk of working against the renter’s taste.
Don’t ignore the flooring of your property, particularly if you have carpeting. This fabric becomes stained over time and can hold odors. A dirty carpet immediately makes your property look much worse than it might actually be, no matter how well you maintain the rest of the property.
This should be replaced with either new carpet or hardwood floors. If the existing carpet is still in good condition, it should be at least cleaned very well.
Hardwood floors are the preferable option for rental spaces, as they are much easier to clean and won’t hold odors between future tenants.
The outside of your home is just as important as the inside. Make sure the walls of your home are cleaned and well-maintained. First impressions are important, and successful rental property management in Nashville will have a lot of competition.
A little extra landscaping can go a long way to making the property look a lot better. Be careful with this, though. Try to install landscaping options that are maintenance-free — you can’t expect your tenants to maintain these items.
Keep the lawn trimmed, do some edging, trim the bushes, but don’t worry about planting flowers or any other more extravagant decorations.
Even residential areas are prone to crime. Porch pirates and car break-ins are unfortunately common. The good news is security systems are becoming much more affordable. Something as simple as installing a doorbell camera can make your future tenants feel more secure in their rental.
You should also consider less technological methods such as installing a fence around the perimeter of your property, if possible. This can deter potential thieves while providing yet another reason for your tenants to feel comfortable in their new home.
The final step for rental property management before showing your Nashville property is to clean. Take your time and do a very thorough job of making sure the entire area is tidy. This includes areas such as the back of cabinets, underneath the sink, the toilet, the shower, and everything else.
A clean property is much more likely to rent quickly. It’s more inviting. It avoids giving someone an immediate reason to look elsewhere. You’ve spent the time and money getting your property ready to rent, take the final step to properly show off your hard work.
Do you have a property prime for renting but not the time to facilitate it? Synergy Real Estate Group can help!
Nashville Property Management
