Do you wait until a current tenant vacates, or do you show off the property while the tenancy is still in the house? This is a question that many landlords ponder. There different pros and cons to either approach:
Pros for showing an occupied house
- You avoid a vacancy and keep your cash flow going
- You transfer utilities directly from the leaving tenant to the new one
Cons of showing an occupied property
- There is no chance of preparing the house as well as you would like to. The current tenant may not be cooperative
- The current tenant might sabotage and hold on to the property as long as it is legally allowed
Pros of showing a vacant house
- You can engage a professional end of tenancy cleaning service to prepare the property thoroughly. With an empty property, the end of tenancy cleaning prices is lower if the cleaning crew do not have to deal with household items.
- You can show as many prospective tenants as you want without the need to notify anyone unlike the case in an occupied property.
The disadvantage of keeping the property empty is that you lose out on the rent. You will also have to pay for the utilities before a new tenant gets in.
Preparing the property
Make the property as presentable as the budget can allow. The first order of business would be to do basic repairs. This includes fixing broken utilities, changing old fixtures, and applying a fresh coat of paint. Work on the property’s kerb appeal as well. This includes mowing the grass, pulling weeds, and applying a coat of paint on the exterior of the property as needed.
Secondly, engage a professional end of tenancy cleaning service to clean the house in every corner, nook and cranny. Professional cleaners have the resources and skill to clean the property regardless of the size.
Third, you have to look at the tenants that you are targeting versus the facilities and add-ons in the house. If you hope to attract young professionals as tenants, for example, you would need to install wifi as they need to work from home from time to time.
Use staging techniques
Staging involves making a property look good for a sale. It involves arranging furniture in a functional way that also appeals to the eye, using lighting and interior décor skills to bring out the best in the house. If you can afford an interior decorator, use the services. It will be a worthy investment as you can expect a higher interest in the house and quicker occupancy.