If you’re a new rental investor or just have bought one of our investment properties then you’re on the right track to earning more money this year.
(If you haven’t still, check out all the available Edmonton rental properties for sale on our new and improved Edmonton MLS Listings, updated daily for your convenience.)
We’ve summed up 3 fundamental things to help you get new tenants for the best rental price. These are the core things that you need to remember. Since its Sunday, we didn’t go in-depth. The intention of this article is to be light and easy to read.
Learn and enjoy your new investment!
MANAGE THE EXTERIOR: Let’s start from the outside. Assess your property’s windows, doors, landscaping and walkways. The first that your potential tenants would see will be the exterior, make sure to remove unnecessary objects in the front yard. Mow the lawn and have the windows cleaned as soon as possible. A fresh look of the exterior would attract and encourage potential tenants view the interior.
INTERIOR DESIGN: As obvious as this may sound, you should not forget to manage your interior. Design, re-arrange or renovate the interior to suit your target clientele. Apply a fresh coat of paint, set-up flowers and plants to enhance the warm ambiance and make sure that everything is clean and tidy-no bugs crawling whatsoever.
Some landlords just tend to leave the interior of the property “as-is”. They don’t bother to clean or make effort in having it pop-out of the competition, the result-it takes longer to get a good tenant and rental price is sometimes much lower than the market average. It’s an investment, so landlords should make an effort to invest time in increasing its value.
MAINTENANCE AND REPAIRS: Everything should work in harmony. A perfectly managed exterior and well-designed interior would go up in smoke if the internal mechanisms of the house are in shambles. MAKE SURE that the plumbing, electric, heating and cooling systems are all in top-top shape. Faulty wiring, leaking faucet would be enough of a turn off for potential tenants.
If need be, hire professionals. Team Leading Edge is in partnership with Edmonton’s reliable maintenance specialists. You can find them all here.
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