Preparing your property for rent

You’ve worked hard to acquire an investment property so ensure you leverage the most out of it by getting it ready for rent. The goal is to attract a great long term tenant and there are many factors that contribute to achieving this outcome.

  1. If it’s broken, then fix it! Everything should be in tip top condition inside and out. Not only will this attract tenants but will often save in costly repairs in the future.
  2. Install white goods. Dishwashers, machine machines and dryers add value! Not only will you able to ask for a little more rent but your property will likely rent faster than the neighbours.
  3. Make improvements. New floor coverings, window treatments, fittings and paint can make a profound improvement to the presentation of your property for very little costs. Remember to talk to your accountant about tax incentives when making property improvements.
  4. Perth is hot! Most tenants will not bother inspecting your property if it doesn’t offer air conditioning.
  5. Keep it low maintenance. Gardens look lovely but require a lot of time and money. If you have the choice, then go with the low maintenance plants and lawn otherwise you may have to include a monthly gardener in the rent.
  6. Arrange landlord insurance! This will protect your investment property against loss of rent if tenants default on their payments or damage from an insured event such as flood or storm.
  7. Clear out the gutters. This should be done regularly! It will prevent fire and allow water to flow freely.
  8. Clean everything! Don’t just do the basics. If you’re busy then it’s worthwhile getting professional cleaners in.
  9. Ensure your property is compliant. This could include performing, electrical safety certificates, smoke alarms checks, or ensuring pool fencing and balcony railing compliance.
  10. Talk to your local leasing agent about planning the right pricing and marketing strategy.