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Rental Report: Is Your Home Ready to Rent?

by ARLnow.com Sponsor January 8, 2015 at 12:00 pm 0

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Editor’s Note: This biweekly sponsored column is written by Rick Gersten, founder and CEO of Urban Igloo, a rental real estate firm that matches up renters with their ideal apartments, condos or houses. Please submit any questions in the comments section or via email.

You’ve decided to rent out your home. You’ve created a business plan, opened a separate checking account, and called your insurance company.

Now what? You have to prepare your home to be shown and rented. Here are some tips to get your condo or house “ready to rent.”

Tidy Up

We all know that beauty is in the eye of the beholder. You may love knick-knacks on the coffee table and pictures on your refrigerator. In the rental world, however, these items may deter a potential renter from choosing your apartment. People want to picture themselves and their own items in their new home. Make this easy for them by removing things such as pictures, stacks of papers, personal items, laundry, litter boxes, and anything soiled or less than pristine. Clean and uncluttered surfaces, neatly arranged furniture, and organized closet spaces go a long way toward making your condo or apartment feel like “home” for someone else.

Inspect Your Home

The last thing you want is for your renters to move in the first day and your washing machine to flood the apartment. Check that all major appliances are running smoothly. Fix any leaks or cracks in the home — these problems will only get worse as time goes on. Make sure you have working smoke detectors and fire extinguishers on each floor and the kitchen. Screens and doors should be inspected and properly adjusted before the showings. Plumbing fixtures and electrical outlets all need to be in working order.

Kennel Pets for Showings

Landlords should remember that not every tenant is a pet-lover. Tenants must be free to view your condo or apartment without running headlong into your Doberman. Even smaller pets, such as cats, could pose a problem for renters who may be allergic to, or fearful of, them. Your goal is to rent your place as quickly as possible. To that end, kennel your pets for all showings or have a friend on-call who can house your pet briefly for a last-minute showing. If there are stains on the carpet or wood floors with damage, think about removal or repair. Do the sniff test; ask a friend to make sure there are no odors reminiscent of your best friend Fido living there.

Remove Valuables

You hope that the renter will treat your home as if it was theirs, but it’s not worth taking the risk. If you have an heirloom, such as a grandfather clock or chandelier that you find irreplaceable, consider removing it first. And always put your personal items away when there is a showing as things can have a way of disappearing. You can put a lock on an “owner’s closet” to store items but make sure your renters know this upfront so there are no misunderstandings.

Now that your property is cleaned and fixed up, it is time to put it on the market. First, set a realistic timeline for finding renters and create a plan for marketing to them. Also, outline any non-negotiable items for your lease before showing your property to prospective renters. The more organized you are, the more the seamless process will be. If you don’t have the time or could use some help with the process, you can enlist the help of a rental brokerage to help find renters, show your property and facilitate the lease and application process.

Have a rental-related question you’d like Rental Report to answer? Email it to [email protected].

The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.

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