If your browser settings allow, we and our partners will have placed cookies on your device when you accessed this website. We and our partners use these cookies for making the website better, customizing content and advertising based on your interests. By continuing to access this website you consent to these activities. See our Privacy Policy to learn more and change your preferences at any time.

By accessing this website you consent to us and our partners placing cookies to improve the website, customize content and advertising based on your interests, view Privacy Policy

What Needs to Happen to Get the Space Ready to Rent?

Many people are using rental as a way to finance their mortgages. In addition to living in part of the home, a room or section is rented out to another person. This can also apply to full properties. Real estate investment is as popular as it has ever been and rental properties are one of the most likely ways that people are choosing to invest in the marketplace. 

Are you considering investing in a rental property or renting out a separate part of your current dwelling? If so, then you’re not alone. However, you it’s not as easy as just posting an opening and someone immediately filling it. It needs to appeal to renters. Thankfully there are some baseline things to take care of without too much trouble. Here are a few tips to help you prepare the space for a new renter.

What Needs to Happen to Get the Space Ready to Rent?

The first thing you should do is a complete inspection of the space, there are a number of conditions to look out for:

  • Water damage - This can occur on the floors, walls or ceilings – ensure any spot is checked before just hiding damage with a coat of paint.
  • Smells - There are plenty of odd smells that could be around and may be evidence of something wrong or of mildew or mold building up. 
  • Leaks - There could be leaks in the kitchen or bathroom fixtures. Fixing them will help prevent potential water damage in the future.
  • Electricity - Test all electrical outlets and ensure all outlets are up to the correct code
  • Cabinets - Ensure cabinets are on their hinges and the hardware is tight.
  • Windows - Make sure that window coverings are staying in place are in working order with no damage. 
  • Walls - Look for any holes in the wall or significant markings that will need repair. 
  • Carpeting - If there is carpet, does it need to be cleaned? This is almost always a must as carpeting tends to do poorly with renters. 
  • Paint - Is the paint fading or is the color off putting? A nice coat of paint is one of the easiest and best ways to improve a rental space. 
  • Appliances - Make sure that all the appliances are in working order.  Are they reasonably up-to-date? Really old appliances might need to be replaced in short order or be a safety risk. 
  • Flooring - If the home makes use of hardwood or other flooring, make sure that they are in good shape. Check to see if the hardwood floors need to be refinished.
  • Entrances - Make sure that all doors and windows open with ease and have well maintained hinges. 
  • Safety - Ensure smoke and carbon monoxide detectors are working on each floor / area. Most renter’s rules require a fire extinguisher to be included as well. 

Once you have completed any items that need repairs or updates, it is a good idea to hire a cleaning service to thoroughly clean the space. Take good notes of the final condition of the room to be able to refer to when a tenant departs so that you can use them to determine if you will need to make any deductions from a security deposit. Copious pictures can help keep a complete history. 

It is best to consult a professional to ensure that the space meets any local legal requirements and the lease agreement is legal and protects the renter and the tenant both. Without the proper paperwork in order, evicting an unruly tenant can be a daunting task.

MORE FROM HOMESMAGIC