When you are thinking about finding a tenant, and you’re ready to put your Memphis rental property on the market, it’s important to make sure your property is rent ready. You can’t do any marketing until you’re ready to show the place to prospective tenants. Repairs will likely be required, and you’ll need to decide how much you should spend on the house and how little you can get away with doing. At Reed & Associates, we always recommend that you do as many repairs as are needed to protect your property. You also want the property to be appealing to the tenants you hope to attract.
The major systems in your home will often need to be repaired or replaced. When you’re Find me a tenatndeciding whether to buy a whole new system, or just repair something that’s wrong with what you currently have, consider the age and condition. This is especially true for heating and cooling systems and major appliances. It might seem expensive to buy a new refrigerator, but if you’re going to have to repair your current refrigerator more than once, it might make more sense to just replace it.
Most of your repairs will be either cosmetic or mechanical. Some of the things you do will be cosmetic only, and it might seem unnecessary to take care of those things, but you really must. It’s going to help you market your property and attract a tenant. The mechanical repairs that are necessary will protect your home and provide a good living experience to the tenants you are trying to reach.
The first impression tenants have of your property is a big key to your marketing strategy. Spend some time on your curb appeal. Plant a few bright flowers, keep your mulch fresh and make sure your bushes are trimmed and your grass is cut. This will go a long way in attracting tenants and getting your home rented.
While you are deciding which repairs are absolutely necessary and which can wait, be sure to move quickly. Make a good decision and then get busy. Every day your property is not on the market is a day you are losing the opportunity to advertise it, find a tenant and collect rental income.
If you have any questions about how to get your property ready for the market, please contact us at Reed & Associates, and we would be happy to help you.