LANDLORD TIPS
FIRST THINGS FIRST…
v Select a Property Manager with experience and training, with whom you are comfortable.
v Schedule a survey of the property to make a list of things that will need to be done to get the property ready to rent
v Decide who will be responsible for ordering any work needed to prepare the property for rent.
v Set a budget for repairs and have the funds available to pay for any items needed.
v Vacant…most property managers want the property to be vacant so that renters can see how their furniture will work in the property. Also, often times the previous tenant is not available to show the property losing valuable time on the market.
PREPARING YOUR HOME FOR RENT…the property survey will provide you with the items from this list that apply to your property…
v Curb appeal. A manicured yard, shrubs & trees is very important. Fence gates should be working property & freshly painted.
v Front door. The front door greets the prospect, so, make sure it is freshly painted, clean, & has a new mat and the door bell is working properly.
v Stucco & driveway. Repair stucco discoloration & cracks, remove oil & rust stains from driveway & garage floor.
v Repair or replace the things that detract from the property like:
o loose knobs on doors & cabinets
o squeaky or sticking doors
o broken windows
o kitchen appliances
o leaky faucets & other plumbing
o caulk bathtubs & showers
o noisy bathroom & laundry vent fans
o light bulbs in all inside & outside lights
o light switch & outlet covers, light fixture covers & other electrical items
o dirty air conditioner filters
o you know what your other maintenance items are, so fix them!
v Paint & polish. Faded walls & worn woodwork reduce appeal.
v Spotless & odorless. Clean, & then clean some more…shampoo carpets, clean window coverings and get rid of odors!
v Pools should be operating properly & sparkling!
IF YOU HAPPEN TO BE THERE WHEN AN AGENT SHOWS THE HOUSE…
v The salesman knows the renter’s requirements & can better emphasize the features of your property when you don’t tag along. You will be called if needed.
v If you know someone who may want to rent is the surest way to ruin a friendship! Do not get to know the tenant, you have hired the Property Manager to handle things.
v A word to the wise. Let your Realtor discuss price terms, possession & other factors with the customer. He is eminently qualified to bring negotiations to a favorable conclusion.
v Use your Property Manager. Show your property to prospective customers only through your Manager. Your cooperation will be appreciated & will help rent the property more quickly.
AFTER THE TENANT MOVES IN…
v Use your Property Manager. Do not give the tenant your phone number. You pay the manager to take calls about items that need repair…or any other issue!
v Use your Property Manager. Tenants that become friendly will expect you to do special favors which can be costly. It is hard to say no to someone you know. Let your manager be the one to do that.