Is your rental property ready for business?
Whether it’s an open-home inspection or by appointment, to be successful requires planning and preparation. How’s we conduct the perfect inspection. Early planning is crucial.
1. With or without tenants?
You are entitled to show the property to potential tenants prior to the current tenant moving out, in NSW two weeks written notice must be given to the tenant before the first and subsequent inspections are organised.
When the market is strong, we can often find a tenant to move in straight after the old tenant has vacated. However, it’s best to allow a little time to make any repairs or upgrades that may be necessary.
The main risk of hosting inspections in a tenanted property is that you don’t have much control over the presentation. Even with the best tenants however, there might be stacks of packing boxes scattered which may make the property look smaller and cluttered.
If the tenant is breaking the lease you can expect their cooperation. They won’t be able to vacate until a new tenant is found, so, it’s in their best interest as much as yours to find a new tenant quickly.
When showing the property with the current tenant still occupying, we try to arrange private appointments. This gives us time to to explain any awkward situations and also addresses the issue of security, as we are better able to look after the tenants belongings.
2. Open house or by appointment?
In the case of a vacant property, there are many advantages to having an open-house inspection.
Most tenants actually like the simplicity of just showing up without having to call an agent or owner to arrange an appointment. Additionally, having a number of interested tenants in the property at the same time will also create a sense of urgency. This is the main reason why we restrict inspection times to fifteen or twenty minutes – to make the inspection look busy.
With private appointments, we can give a more personalised tour, taking time to highlight all the best features.
3. First impressions
You only get one chance at a first impression.
We like arrive early and prepare the property to its best advantage.
* Open curtains, blinds, windows and doors to freshen the property. Use curtains and blinds to your advantage to soften less-desirable outlooks while letting in as much light as possible.
* Switch all lights on, even in rooms that may not need it; people love light. In the kitchen, turn on the range- hood light and bench-top lighting. Use lamps to create mood lighting where possible.
* Ensure sinks and basins are clean and clear of any residual water.
* In winter we’ll try to have the heating on and in summer the air-conditioner, to level out any extremes.
* Turn on outdoor spas, fountains and garden lights.
* Blend some essential oils to create a calming fragrance, such as lavender and bergamot.
We are now ready to host a perfect inspection.
George Astudillo is the founder of Property Quarters, an agency that values communication and great relationships with its landlords.
George now has more than 30 years in real estate, including 15 years as the owner of a national real estate franchise. He’s also an accredited auctioneer and is the author of “The Landlord Mindset”, a book with his best tips to help landlords look after their investments. His book has been quoted in the SMH, The Huffington Post and The Age.
As the founder of Property Quarters, George takes great care in looking after his landlord’s investments. Having seen it all and worked with may landlords and tenants, he’s a strong mediator and negotiator and knows how to navigate through property legislation.
George is trusted by his landlords to advise on the financial management of their investments. He’s put in place proven processes to ensure each property he looks after is managed effectively to retain its value, quality tenants and rental income.
If you’re looking for a property manager who thinks like a landlord and whose business is built on tested processes, contact us by clicking HERE.
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