There are some important things that need your attention before you begin marketing your rental property, showing it to tenants, and collecting applications.
You have to make sure it’s ready for the rental market.
Whether you’re renting a home in Mesa, Gilbert, Phoenix, or anywhere else in the East Valley, don’t waste valuable time and extend your vacancy period by trying to rent out a home that isn’t move-in ready.
Tenants have higher standards than ever. They won’t be eager to apply for a rental home that’s not clean, not modern, and not well-landscaped.
We know you’re in a hurry to find a tenant and start collecting rent. But, you have to make sure your investment property is ready to attract those tenants. Otherwise, you’ll be spinning your wheels while good residents continually pass on your property.
We have a few things to check off your list before you put your property in front of prospective tenants.
Think About First Impressions and Create Curb Appeal
Getting your property ready for the rental market starts with how it looks. Tenants are emotional, and they’re going to be attracted to a home that looks like…well, a home. Once your property is listed as available for rent, you can expect tenants to drive or walk by it, just to get a feel for the neighborhood and an idea of how the home looks.
A lot of your likely tenants will form an opinion about your property just by the way it looks from the outside.
Leverage that first impression. Give prospective tenants a reason to schedule a showing, complete an application, and sign a lease. Good curb appeal is welcoming and attractive. It taps into the emotions people feel about their homes and it draws them closer to wanting to rent your property.
In the East Valley, low-maintenance landscaping is best. Your single-family home likely has a bit of yard space, maybe a front patio or a backyard. Pay attention to the exterior. If you have grass, keep it mowed and healthy. If there are trees and bushes, make sure they’re trimmed and pruned. Make good use of gravel, brick, and other desert-friendly landscapes.
Everything outside must be clean and pretty. Remove any debris or trash, and throw away that rusting patio furniture and the old grill a former tenant might have left behind.
Install sufficient lighting and make sure the front door and the walkway are clear, clean, and easy to see.
Stand on the street or the sidewalk in front of the property. Does this look like a property that good tenants will want to enter and inspect? If it does, then you’ve created some great curb appeal.
Inspect and Look for Repair Needs
Does everything in your property work?
You need to inspect those systems and functions before you offer a rental property to tenants. They won’t want to move into a home with a missing appliance or an air conditioning unit that still needs to be fixed. Cross all maintenance to-do items off your list before you market your home and show it.
The property is simply not ready for the Mesa rental market until everything is safe, functional, and habitable. There’s no sense in trying to rent out a home that has faulty wiring or a back door that doesn’t lock. Everything needs to be working well before you dive into the marketing process.
Complete a thorough inspection so you can make a list of the things that need work. Get your vendors and contractors scheduled so you can move forward quickly.
The condition of your property sends a message to your future tenants. If you show a home that is deteriorating and broken, tenants will think you’re slow to make repairs. They might not bother taking care of things during the tenancy. But, if you show them a perfect home that’s welcoming and attractive, and they can imagine moving their things right in - you’re showing them that you care about your property, you have high standards, and you expect them to take good care of it when they’re living there.
Beyond Repairs: Consider Improving Your Mesa Investment Property
You can make the necessary fixes and move on.
Or, you can increase your rental value and reduce your vacancy time by attracting the best tenants quickly.
With a few cost-effective upgrades and updates.
To get your property ready for the market and to enjoy a fast, successful leasing process, it’s about more than just maintenance.
You want to offer a modern, impressive rental home that stands out from competing properties.
When your investment is already in good condition, there’s no need for a full renovation. No one wants to pour additional money into a home that’s not earning any rent yet. But, investing in some small upgrades can really help you earn more and ensure your property is ready for the rental market.
Here are some examples of quick things you can do while you’re preparing your property for the rental market:
- Put complete coats of fresh paint on all the walls
- Tear out the carpet, which traps allergens and dirt, and install low-maintenance hard surface flooring
- Install new hardware on the drawers and cabinets in the kitchen and bathrooms
- Invest in better lighting inside and out
- Replace current faucets and hardware with shiny, modern faucets and hardware
- Update your window coverings
These things go a step further than simply getting the property ready to rent. It shows tenants that you want them to love your home. It invites them to choose your property over the competition. It also increases your rental value and ensures high quality renters are applying to live in your home.
Hire Professional Cleaners To Make Your Mesa Rental Property Shine
Cleaning is critical when you’re getting your property rent ready. It should be exceptionally clean and free of dust and debris. You don’t want to see stains on the tub or hair in the sinks.
Unless you have a passion for cleaning, we recommend you work with a professional team. Hire a cleaning crew to really do a deep clean, which should include pulling the appliances away from the wall to clean and dust under them and behind them. You’d be amazed at the crumbs and dust that can gather around appliances.
There’s a lot of dust and mess that can be made while work is being done and repairs are being made. So, schedule the cleaning service after all your vendors have cleared out. Do it before you begin showings. In fact, you should have the property professionally cleaned even before you take any marketing photos. It should look dazzling and inviting.
If you don’t pay attention to the cleaning, you’ll have a longer vacancy. Good tenants will never be willing to move into a property that hasn’t been recently and effectively cleaned.
Pricing and Marketing East Valley Rentals
After the property has been repaired and cleaned, the only thing left to do is attach an accurate rental value and put together a listing that’s bound to get a lot of attention from potential tenants.
The right rental value will make a big difference in the leasing process.
To increase your rental income and your long term ROI, you need to avoid vacancy and get a good tenant into your property as soon as possible. Overpricing your home will not help. You need to take a close look at the market, and establish the right rental value.
Focus on the competing properties in your neighborhood. Look for properties that are similar to yours, and make sure you aren’t pricing your home higher than they are. That will only give your prospective renters a reason to choose a house that isn’t yours.
Underpricing your home is a bad idea because that’s going to hurt your cash flow and your long term ROI. Don’t overprice either, or you’ll extend your vacancy. If it takes you a month longer to rent out your home, you’ve lost an entire month’s rent. That’s going to hurt a lot more than reducing your rent by $25 or $50 or even $100 per month.
Take some amazing marketing photos. The pictures will get your prospective tenant’s attention first. While your description is certainly important, you want to make sure your photos tell the real story. Include as many as you can; you should have pictures of the front of the property, the bedrooms, the kitchen, bathrooms, and the living room. If there’s outdoor space and a garage, snap some photos of those, too.
You need high quality pictures and a concise, accurate description.
These steps are important and they keep you from losing time and money. A rent ready property will rent faster to better tenants and for more money.
If you don’t have the time or the resources to take care of these things, we can help you. Our leasing steps include a detailed rent-ready process. Please contact us at TCT Property Management Services. We manage homes throughout the East Valley, including Mesa, Gilbert, Chandler, Scottsdale, and Phoenix.