Position: Is the property close to transport? Are there
shops close by? Are there restaurants to visit? Where is the closest school?
While you cannot change the position of your property; you
could let your Property Manager know of the area and what you have found to be
handy, including the reasons you moved or purchased in this area. Sometimes,
adding these things to the advertising can entice people to view who would normally
have looked past your property.
Presentation: Is the property clean and tidy? Are the yards
maintained? Does it look like repairs are completed regularly? If the Landlord
is not doing repairs now, they may not do things for new tenants and this can
be a big factor if tenants have had this issue before.
Sometimes we see past what is always there. Try coming to
the property a different way or have someone visit who has never been there.
Look at the street view. Are there over grown trees? Do the gardens need a
weed, spray and mulch? Could the house use a wash down or perhaps a pressure
clean of the paths and drive? If a property looks messy and unkempt it may stop
people from even booking for an inspection. It may be beautiful on the inside
but they will never know.
Internally, a fresh coat of paint and professionally
cleaning carpets and tiles will really give the property a lift. I also cannot
recommend a professional bond cleaner enough, we don't realize just how big
this job is! Make sure all power points are clean and without any cracks or
damage. Check that all screens are in good condition and that all vents are
clear.
Bathrooms and kitchens will usually be a deciding factor. I
recommend putting an exhaust fan in all bathrooms and a window security screen
so the windows can be left open even when no-one is home. Surprisingly it is
not too expensive and can save money in the long-term. Mould can quickly take
over and cause a lot of expensive damage.
Have a professional company check the bathrooms for any
leaks around tiles as this can leak for quite some time before you can
physically see the damage. A professional company such as Megasealed can
provide a free report and guide you as to the most economical repairs.
I would also consider an exhaust over the cook top to take
away cooking smells and condensation.
Did you know that air conditioners require servicing? This
can help keep replacement costs down and ensures the unit is working as
expected.
Price: Is the price of the property correctly situated in
the market with comparable properties? While it can be confusing to look at
what is advertised, it can also be misleading. One 4 bedrooms, 2 bathrooms and
2 car garage does not necessarily reflect the same value as yours. Others may
have extra or less features such as a pool, a study, outdoor living and much
more. Your Property Manager can give you comparable prices based on achieved
rentals as well as their own rental portfolio.
Lastly, don't be tricked into thinking the listed rental
prices will be achieved either. There can be price reductions as well as
negotiation, so it is best to be guided by achieved rental prices. If in doubt,
your Property Manager is an expert and could guide you on value adding to your
property, including helping to obtain quotes.
Do you want more information about Property Management or
becoming a Property Manager? Contact Brenda at brenda.mitchell@live.com.au or
visit my Facebook page https://www.facebook.com/brendaleemitchell1971/about
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