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How to prepare your Miami property for rent like a pro

Updated: Dec 24, 2022

When listing your property for rent, the goal is to spend the least time on the market while securing a great tenant for the highest price possible. And there's good news! You can take steps to prepare your property before listing it for rent to help you achieve these goals. This blog will share four tips for prepping your property for the rental market. These tips will help you make your property more attractive to potential tenants, shorten the time it takes to find a tenant, and increase the rental rate.



In this article, landlords will learn the following when it comes to preparing their property for rent with a real estate agent:


Why you should prepare your rental property before listing

There are several reasons why landlords should consider making improvements and repairs to their rental property before listing it for rent.


Here are a few:

  1. Attract higher-quality tenants: A rental property that is in good condition and has been well-maintained is more likely to attract high-quality tenants. These tenants are typically more responsible and less likely to cause damage to the property, which can save the landlord money in the long run.

  2. Increase rental income: By making improvements and repairs to the property, landlords can increase the value of the rental and potentially charge a higher rent price. This can help to maximize the landlord's rental income.

  3. Reduce vacancy times: A rental property that is in good condition and well-maintained is more likely to attract tenants quickly. It will help marketing efforts and show well in person, which can help reduce vacancy times.

  4. Improve tenant retention: Tenants who are happy with the condition of their rental are more likely to stay longer, which can help reduce the landlord's turnover costs. Landlords can improve tenant satisfaction and increase retention rates by making improvements and repairs to the property.

  5. Protect the landlord's investment: Making improvements and repairs to the rental property can help protect the landlord's investment. By maintaining the property and keeping it in good condition, landlords can increase the property's value and sell it for a higher price if they decide to sell it later.


Coordinate with your tenant

It is common for landlords to start looking for new tenants for their rental properties at least a month before the current tenant's lease is set to expire. By finding a tenant while the current tenant is still in place, landlords can find a new tenant without experiencing a significant loss of rental income.


To avoid any issues, put your agent in contact with your tenant to coordinate with the current tenant to allow for showings of the property to potential new tenants. Having your agent coordinate with the tenant may involve scheduling specific times for showings or allowing access to the property during certain hours. The landlord should also ensure that the tenant keeps the property in presentable condition for showings, making it more attractive to potential tenants.


Overall, the landlord and their agent should plan and communicate with the tenant regarding finding new tenants for the property. This helps ensure a smooth transition and minimize disruption to the current tenant.


Pro tip

Hire a real estate agent or company that takes high-quality pictures of your property and a video and 3D tour. Then relist with that agent, so when it's time to hit the market again, your agent will have everything ready to go. It also helps if you have a tenant who may not allow the property access.



Inspect the property

It is a good practice for landlords to conduct a thorough inspection of their rental property after a tenant has moved out. Landlords should have a move-in/move-out checklist to compare the property's condition from move-in to move-out. Using the move-in/move-out checklist can help the landlord identify any damages the previous tenant may have caused. In that case, the landlord can claim part or all of the security deposit to make repairs.


Landlords should also take the opportunity to evaluate the needs of the rental property and make a list of any improvements to make. These improvements may include deep cleaning, painting, repairing or replacing damaged fixtures or appliances, and making any necessary updates or upgrades to the property. By making these improvements, landlords can ensure that their rental property is in good condition and appealing to potential tenants. Which can help attract higher-quality tenants and increase the property's rental value.


Suppose you are an out-of-state landlord and do not have a property manager. You may need to conduct the walkthrough with your tenant via video call or ask the tenant to send you a walkthrough video. Your agent most likely does not operate as a property manager, and the landlord or property manager should conduct tenant turnover. However, your agent may do a walkthrough to give you feedback on what's needed to get the property listed.


Typical improvements to make

There are many things that landlords should do to prepare their rental property for listing photos. These may include making the following improvements:

  • Clean deeply.

  • Fresh neutral color paint

  • Caulk tubs and windows

  • You can make major repairs, such as replacing your counters or appliances if needed and within your budget.

  • If the property has a rug, have it shampooed

  • Upgrade your lighting or lightbulbs

  • Replace the A/C filters

  • Replace smoke detector and carbon monoxide batteries

  • Replace any damaged or missing window treatment

  • Swap out damaged outlet and light switch covers

By making these improvements, landlords can ensure that their rental property is in top condition and appealing to potential tenants when the listing photos are taken.


Avoid skipping preparing the property before listing

As a real estate agent who has worked with tenants, I've seen many properties where landlords skipped preparing before listing. Skipping over preparing the property leads to prospective tenants skipping over the property, which leads to a stale listing.


Here are a few reasons why I advise against this:

  • It affects marketing efforts: Getting an excellent 3D tour and high-quality photos of the property are challenging when not in good condition. This leads to the listing being overlooked by prospective tenants searching online. Suppose you have good images from the listing if previously it's not a good idea to "catfish" prospective tenants when they view the property in person.

  • It can affect the tenant's perception of the landlord: As a landlord, you want to present your property(s) as a professional.

  • It can affect the rental price: If the property is not in good condition, tenants may feel like it is worth less than the advertised price.

  • It can delay the move-in date: Many landlords wait to secure a tenant before making improvements or repairs. But this can cause a delay to the move-in date if the improvements or repairs aren't made in time.

  • It can cause issues at the walkthrough: The walkthrough is when the tenant gets the keys and pays the move-in payments. The tenant will walk through the property, and your agent may complete a move-in. The worst way to start a lease is to find out that repairs must be made.


How to find professionals

Suppose you are managing your rental property on your own. In that case, finding professionals to assist with various tasks and projects can be helpful. There are a few ways to find professionals, such as:

  1. Agent recommendations: If you are working with a real estate agent to list your property for rent, they may be able to recommend professionals who can help with various tasks, such as cleaning, repairs, or maintenance.

  2. Word of mouth: Ask friends, family, or neighbors for recommendations for professionals they have used in the past and were happy with the service received.

  3. Online resources: There are many online resources available that can help you find professionals in your area. Handy is a website that can connect you to top-rated professionals. Nextdoor and Facebook Groups can help you find professionals through word-of-mouth recommendations from your neighbors and other landlords.

By using these resources to find professionals, landlords can ensure that they work with reliable and skilled individuals who can help them manage their rental properties effectively.


The link to Handy.com is a referral link. I may be compensated by using the link, and you will get $30 off your first house cleaning.


Conclusion

Ensuring that your rental property is in the best condition possible is one of the fastest ways to attract high-quality tenants. By following the tips mentioned in this blog, landlords can create a system for turning over tenants and help to keep new tenants in their properties for extended periods.

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