For this episode, instead of the usual Highest and Best episode we release on Wednesday’s, I decided to do an #AskMarcAnything episode. As a property manager, many landlords will ask me how to properly prepare their rental to list on the market. It’s very similar to preparing your home to sell. In this episode, I break down some techniques and give you tips on how to prepare your rental property whether it is a single family home, condo or multi-family building.
RENTING OCCUPIED OR VACANT
Always Rent Vacant
Property is empty, appears bigger
No mess or personal distractions to prospects
Awkwardness of walking into random people’s home
Allows for simple and good looking 3D virtual tours
Allows for staging
Easy for prospects to measure
Easier to show = More showings = If more demand then higher price
Occupied By Owner
Sometimes due to budget or other reasons, cannot vacate prior than being on market
If you have a manager, leave during showings
Similar to selling home
Allow flexible showings times
If not flexible on time, create open house blocks
Occupied by Tenant
Reduce turnover by showing a rental occupied by tenant
Troublesome if tenant refuses entry = notices = will you evict?
Difficult setting up showings
Same issues as previously mentioned with owners
CURB APPEAL AND INTERIOR APPEAL
Curb Appeal
Lawn - Cut It
Landscape - Keep landscape looking good. No need for big upgrades
Trend is moving to low maintenance
Drive up to other rentals or homes for sale, take photo and compare to your home
Exterior of building
Windows/Doors/Garage Doors and anything visible
Multi Family (MF) - Building appearance to neighborhood
Interior Appeal
If vacant, look at needed repairs
Colors - Dont forget paint job and neutral colors
Staging
Matching Look - Cohesive
Matching features - fan in each room? Cable in each room?
PROPERTY CLEAN UP
Exterior
Cut the lawn & handle landscaping
Trim bushes and cut back tree branches
Schedule landscaping as owner - avoids violations & headaches
Garbage/debris cleaned up
Replace anything missing - garden lights/backflow caps
Interior
If occupied, clean up all mess (clothes, toys, counters, etc)
If tenant occupied, difficult - cant force cleanliness
Broom swept condition is good enough, full cleaning prior to tenant
Light bulbs
HOMEOWNER ASSOCIATIONS
Vidcast Version:
