How to Prepare Your Rental Income Property for the Next Tenant
Vacancies are a part of life with rental property. Tenants come, and tenants go (it’s known as a property’s turnover rate). As a result, when tenants do go, the need to find a replacement tenant as quickly as possible places a huge burden on the real estate investor.
Blog contributor, Paul Rossano, works all day long advising residential income property tenants what they should be looking when they go out looking for a property to rent. I believe the list he provides his would-be-tenant customers on things to watch for might be helpful for landlords to know, and Paul gave me the consent to post it. Maybe it’s common sense, but it’s not every day that the landlord can get inside the huddle of the tenant’s team, and at least the very least use it to provide a good checklist for how to prepare rental income property for the next tenant.
- Kitchen appliances in working order.
- Water pressure strong, plumbing without leaks.
- Electrical outlets and wiring working.
- Walls and ceiling painted or papered without cracks.
- Ventilation or air conditioning accessible.
- Floors, railings and bathrooms in good repair.
- Fire escape easy to use.
- No rodents or insects.
- Heating system in working order.
- If furnished, check and write down condition of all furniture.
- Windows and doors operable and weather-tight; screens provided.
- Check the security of the building to find out if there is a dead-bolt lock, security chain, or through-the-door viewer.
- In order to avoid being blamed for damages that already exist in the rental unit, the cautious tenant should take every step for self-protection. Before moving in (or as soon as possible thereafter), the tenant should make a list of all existing damages and repairs that need to be made. A copy of the list should he presented to the landlord and attached to the lease This way the landlord cannot blame the tenant for damages caused by others and the tenant will know what the landlord intends to repair. If the tenant keeps good records the landlord will not be able to keep the tenant’s security deposit for damages that were actually caused by others. Taking pictures before moving in is also strongly recommended.
ABOUT THE CONTRIBUTOR: Paul Rossano, associated with www.AllSpaces.com who “Conveniently Connects All People with All Spaces in All Places” has been dedicated to the Real Estate rental market for over 8 years. He has assisted over 25,000 tenants with their renting needs. Any questions about renting apartments, houses or other rentals, feel free to visit www.AllSpaces.com or email him at Paul@AllSpaces.com.
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