Whether you intend to move out of your current Carolina home and rent it out instead of selling it or you own properties in addition to your primary residence, getting a house ready for the rental market can seem a daunting task. While your process may differ slightly depending on who your target demographic is, there are a few things every prospective landlord should do to get a house ready for renting. Some helpful tips are featured below.
Make sure essential repairs are done
Essential residential systems, such as electrical, plumbing, and HVAC, should be in perfect working order before you rent out your North Carolina or South Carolina property. If any light fixtures, outlets, drains, bathtubs or heating/cooling units are not in tip-top condition, they ought to be repaired or replaced before the house hits the rental market. Nobody wants to move into a new space and have a necessity (like the air conditioning during a Carolina summer) stop working almost immediately.
Make the exterior look great
Curb appeal matters, even to people who don’t own their homes. More and more renters are choosing leases over mortgages, so it’s important to understand that they want residences that look great. If the exterior of your rental property could use some sprucing-up, do so before you officially put it on the market. Not only will this attract high-quality tenants, but it may allow you to ask for higher rent each month. Quick, relatively inexpensive ways to add curb appeal include planting flowers, giving the front door a fresh coat of paint, and making sure the walkway and front porch don’t have cracks or crumbling areas.
Do some updating
Depending on when your rental property was built, this tip may or may not apply to you. If, however, the house is older, it’s a good idea to make some high-impact updates. Remember, this doesn’t have to cost you a lot of money! Light fixtures, for instance, are a great place to start. Inexpensive, but aesthetically pleasing, overhead lights and sconces are available at most home improvement and decor stores.
Another way to make the interior of your rental property look more modern is to paint every room. A neutral grey throughout is a great option right now. This is a popular color that will work with nearly any furnishing style, so almost any potential tenants will be able to easily visualize their personal belongings in the space.
Consider hiring a property manager
This is a particularly important tip for first-time landlords. If you haven’t ever rented out a property in the past, it’s a good idea to let a qualified North Carolina or South Carolina property manager handle the bulk of the work for you. There are both individuals and companies that offer this service.
As a rule of thumb, consider what you would find irritating as a renter and have it fixed. In addition to saving you headaches and money later, this will get you off on the right foot with your new tenant. Renting out a home may initially seem overwhelming if you’ve never done it before, but it can be an excellent way to earn extra income once you get the hang of it, so don’t give up!