Key Takeaways

• Inspect, repair, and deep clean the property before listing to attract quality tenants.

• Replace locks and document the unit’s condition to improve security and avoid disputes.

• Use strong marketing, including high-quality photos, to help your rental stand out.

• Understand local rental laws and consider professional management to simplify the leasing process.

Thinking about renting out a property? You should go for it! Rental properties are a great source of passive income. Moreover, they allow you to grow your wealth and equity over time. 

However, getting a property leased isn’t a walk in the park. Tenants have high expectations, so you have to ensure the unit is in top shape before even considering listing it for rent. 

Moreover, you need to think hard about your marketing strategy. Otherwise, you won’t be able to compete with the thousands of properties listed for rent online.  

If you want to rent out a property but don’t know how to get started, you’ve come to the right place! In this guide, the team at KRS Property Management will go over the best strategies for getting a property ready to rent quickly. Let’s dive in!

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Tip #1. Thoroughly Inspect the Unit

Before listing your property for rent, you need to inspect it. This will help you assess the unit's current state and determine whether any upgrades or repairs are needed. This will help you ensure your property is up to tenants’ standards. 

Moreover, you must record the property’s condition before it’s leased. This will help you identify any issues or problems that arise during the tenancy. It can also be helpful in diffusing security deposit disputes. 

If tenants claim they left the unit in good shape, you can use the report or any pictures you took before the tenancy to prove any damage that was made. 

Tip #2. Make Any Needed Repairs

As a landlord, you’re responsible for keeping your rental property in good condition at all times, not only for legal compliance purposes but also to attract renters. After all, no one wants to live in a property in dire need of repairs. 

That’s why, before listing your property for rent, you need to make sure that all needed repairs are addressed. It doesn’t matter if it’s a leaky faucet or a major issue like a damaged roof; even the smallest issues can drive prospective tenants away. 

Tip #3. Install New Locks

Whether you’re renting out your property for the first time or you’re finding new tenants after a lease ended, it’s always a good idea to install new locks. This way, you can avoid holdover tenancies and ensure no one but you has access to the unit. Moreover, new tenants will rest easy knowing that the unit is safe and sound.  

Tip #4. Deep Clean the Unit

Tenants have high standards for their rentals. Not only do they expect the property to be in good condition, but they also want it to be clean and tidy. 

If a landlord can’t be bothered to clean the property up for pictures or showings, tenants might think that they don’t care about their property. That’s why you should deep clean your unit thoroughly before listing it for rent.  

If you want to take it a step further, you can also stage the unit. Adding some pictures, art, plants, or other decorations can bring life to the space. Moreover, strategically placing furniture throughout the property can make it look more lived-in and make tenants envision themselves living in the space. 

Tip #5. Familiarize Yourself with the Local Rental Laws

As a landlord, you’ll have to comply with the local rental laws. These regulations govern everything from the basic services your unit must include to how much you can raise rent every year. 

Fair housing laws even regulate the language you can use in marketing materials, as well as the criteria you can use for selecting tenants. Familiarizing yourself with these regulations will help you avoid common pitfalls and start your journey as a landlord on the right foot.

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Tip #6. Take High-Quality Photos of the Unit 

Tenants tend to ignore listings without photos. They also pay less attention to listings with grainy or low-quality pictures. So, if you want to advertise your property successfully, you need to take quality photos of your rental. 

You can hire a professional photographer, ideally one with real estate experience, or you can do it yourself. All you need is your phone and good lighting!

If you further want to make your rental stand out from the rest, you should also consider filming a video of the property. A video tour will help you showcase the best features of your rental more easily. Plus, it’ll grab tenants’ attention more easily! 

Tip #7. Get Landlords’ Insurance

Renting out a property can be incredibly rewarding, but it also comes with some risks. This includes financial losses, property damage, and legal disputes. Luckily, there are plenty of things you can do to mitigate these risks, including getting the right insurance. 

Most landlords’ insurance plans offer protection against tenant-caused damages, natural disasters, accidents, and some even offer protection against missed rent payments.

Tip #8. Hire a Property Manager 

Leasing a rental property can be time-consuming. You need to schedule inspections, coordinate maintenance and repairs, and handle paperwork. On top of that, you’ll need to write a listing, respond to inquiries, and coordinate showings. If this sounds like too much, you should consider partnering with a property manager. 

Bottom Line

Getting a property ready to rent sounds easy, but in reality, it involves a myriad of tasks. Landlords need to inspect the unit, make repairs, clean the property, write an attractive listing, coordinate showings, and keep up with inquiries. 

Failing to do any of these things can lead to long periods of vacancies. But by following the tips outlined above, you’ll be able to avoid common pitfalls and get your property ready to rent in no time! 

A company like KRS Property Management can help you with anything from preparing your property for renters to writing a solid lease agreement and collecting rent. This means you’ll get to enjoy all the benefits of being a landlord, without any of the hassle!

Our team would love to help manage your property! Contact us today!