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Tag Archives: rental property

Tip Sheet: Four Preventative Measures for a Tenancy

When it comes to filling a rental vacancy, a preventative approach can help you avoid future problems. Photo: The Dave Keefe Real Estate Team (2017)

While part of preparing a rental property for market is getting the physical space move-in ready, the other part is addressing non-physical details such as tenant screening. Due to the potential consequences of oversights or poor decisions in this area, it’s important to take a meticulous, preventative approach. To learn a few critical steps, read the following tip sheet by Diamond Certified Expert Contributor Sam LaPlaca of CM Property Management Inc.:

1. Verify income. Accepting a tenant who can’t afford the rent is a mistake that can cost you a lot of time, money and frustration. That’s why, in addition to asking for pay stubs and bank statements, you should run a credit check to further verify an applicant’s income. Continue reading “Tip Sheet: Four Preventative Measures for a Tenancy” »

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How to Prepare a Rental Property for Market

From basic maintenance to upgrading outdated features, there are several steps involved in preparing a rental property for market. Photo: Howard Blood – Intero Real Estate (2017)

If you own a rental property that has recently been vacated, you’ll need to prepare it for going back on the market. While this primarily consists of cleaning and basic maintenance, a vacancy also provides an opportunity to increase the property’s value and maximize your investment. Here are some steps to consider:

Address maintenance needs. Four to six weeks before your intended market date, make a list of maintenance items that need to be addressed. This should include standard maintenance measures like cleaning the carpets as well as deferred tasks such as fixing a roof leak or broken window blind. It’s also a good idea to have preventative HVAC, plumbing and pest inspections performed during this time. Continue reading “How to Prepare a Rental Property for Market” »

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