One Thing To Do Before You Rent Out Your Home
Before you rent out your home it’s important first to identify the problems and fix them. This way, there will be minimal issues and disputes and you make your property more attractive to potential tenants as well.
The business climate is getting more competitive and this applies too in rentals. Clients/tenants always have options which is why it’s important to secure tenants and keep them as long as possible. And with population growth (e.g. NSW population has grown to more than 7.9 million) and movements (e.g. migration, business and job opportunities, property prices, evolving demographic), rental income becomes uncertain. To work around that uncertainty, landlords and property owners need to secure as many advantages as possible.
Before you rent out your home
One of those advantages that landlords need to secure is about the attractiveness of the property itself. Although location (e.g. proximity to schools, universities, railway stations, workplace) has always been a huge factor when tenants decide where to live, many of them might still be willing to commute for additional minutes in exchange for some cost savings. The soaring prices of renting homes and apartments near commercial centres and other modern essentials make tenants consider other options.
In addition, the government wants to make things easier for people (so that people can become more productive) by making transport faster and easier. For example, the completion of the Sydney Metro West and Western Sydney Airport can make commute times shorter because of new transport infrastructure (more roads will surely be built) and the opportunities are being brought closer to the people. This also opens opportunities for landlords and because more tenants will consider the landlords’ properties. And because new transport projects often result in new jobs and business opportunities, expect more people to flock in areas where economic progress is certain.
As a result, your home or rental property always stands a chance of being filled by tenants if you do a few things right (even though your location is sub-optimal). One of those few important things is about your property’s safety and security. As mentioned earlier, the attractiveness of the property is also a huge factor (aside from location) when tenants decide where to move in. What makes a property attractive? This could mean many things but often security and safety top the list.
Tenants most likely check how far a property is from the railway station, major roads, shopping centres, workplaces, churches and schools. In addition, tenants also check the crime stats in the area and search the news for recent events in the suburb or neighbourhood. This can help them gain peace of mind about their decision.
When it comes to the home or property itself, potential tenants also look for the property’s security features. Are the security doors and window grilles sturdy enough (e.g. made from strong and thick material, properly installed, no rusting)? Do the windows provide enough visibility of the outside while the tenant is inside (i.e. check for intruders and suspicious noise)? Are there enough outdoor lights that illuminate the streets and pathways?
Before you rent out your home, it’s crucial to think about the tenant’s needs and worries. It’s especially the case with families with babies and young children. Parents need to gain that peace of mind so that they can better focus on work and their children’s future. Sturdy grilles and screens can help with that by providing that extra layer of security and protection.
Additional protection
Intruders may attack anytime which is why sturdy screens and grilles and security technologies (burglar alarms, CCTV) are a must for the tenants’ peace of mind. In addition, insects and little animals may also attack anytime which is why other measures are required.
Screen doors and window screens protect homes and apartments from flies, mosquitoes, insects and little animals. Although modern neighbourhoods and urban areas are almost free from such insects, the risks are always there. Insects and animals can cause or transmit diseases and it only takes a single occurrence. As a result, tenants also look if there are screens on the windows and doors of a property.
As a landlord, you have the responsibility of giving your tenants the feeling of safety, security and peace of mind. Aside from complying with rules and standards, it’s also good to consider the tenant’s point of view. This way, you can better understand what the tenants require and what makes them stay for long.