An inventory is a list of all items in the rental property along with their exact condition. The inventory is sometimes also referred to as “schedule of condition”. Landlord’s inventories are essential to check for any damage caused during the tenancy period. Not only this, an inventory also comes in handy in case you need to make an insurance claim for property damage due to fire, flood etc.
It is best to understand the renter’s perspective and note down the problem areas in the inventory before they move in. Consider spending some money in undertaking the requisite repair and upgradation work. Make a positive impact so that when potential renters come in to view your property for the first time, they get attracted towards it immediately.
Some simple tips and suggestions can help you create the perfect rental home inventory. Read on:
- List all the items: Note down the items present in your property and also mention their present condition. It is imperative to jot down the condition of not only the movable items but also the non-movable ones such as floors, walls, doors, windows etc.
- Click lots of pictures: Take photographs of your rental home items as this will help you to compare the condition at the end of the tenancy period. You can even go a step ahead and make video inventories as they are a more reliable proof.
- Describe ‘wear and tear’: Since you will have tenants come over to reside in your property, it is bound to experience wear and tear. For instance, the paint may fade, appliances may be used,, carpets may become dull and so on. Therefore, you need to clearly mention in the inventory list the extent of wear and tear that is acceptable. This will avoid any disagreement with the tenants later on.
- Get a third-party witness: Having a third-party witness for your inventory can make it even more reliable. You may have a professional real estate agent or an inventory conductor as the witness. This will be of great help to support your inventory once the tenancy period comes to an end.
- Get it duly signed: An inventory is an important document like the lease agreement. So, it needs to be duly signed by you, the tenant and third-party witness as well. Without signatures the inventory does not hold any relevance in the eyes of the law.
For more information, contact Lone Star Realty & Property Management, Inc. We are located at 1020 W Jasper Drive, Killeen, TX 76542. You can also call us at (254) 699 – 7003.
It is important to make your property look attractive so that more and more prospective tenants are willing to rent it. One of the first things that a potential renter takes note of is the exterior of your property. Therefore, it is essential to invest time and money in beautifying your rental property and increasing its curb appeal. You need to upkeep your property in the best possible manner and use a little bit of creativity to make it stand out from the rest.
Below is a list of certain tips that can help you:
- Clean it thoroughly: Potential tenants will never like a property that is unkempt and dirty. So, pay attention to the exterior and make sure it is neat and clean. You can take certain steps such as trimming the lawn, shoveling the snow and power washing the outside of your property. Also ensure that there is no litter around the property. Apply a fresh coat of paint on the front door and ensure cleanliness on the porch. Make sure you do not stack up any unused or old appliances on the porch.
- Go green: Everyone gets attracted to greenery and you too can use this aspect to its fullest in your property. Go in for simple landscaping as it looks beautiful and does not fall heavy on your pocket too. You can create a miniature garden near the front porch and even plant a row of hedges to segregate your property from that of the neighbors. Paint the mailbox anew and use rocks or concrete blocks along the entrance. Plant seasonal and fresh flowers in small pots to further increase the beauty.
- Add simple accents: Addition of simple accents can go a long way in making your rental property more inviting. For instance, you can have chairs in your porch in materials such as wood or wicker. Display some nice cushions on the chairs for an enhanced appeal. You can even add a dash of color by opting for a bright colored mat at the entrance of the property. This will make the tenants take note of your rental home the moment they enter it.
- Have a center of attraction: Highlight the enticing features of your property in order to gain the attention of probable tenants. You can have a major feature that becomes the center of attraction in the exterior of your home. For instance, add a swing in your porch with bright-colored pillows or simply have a water feature such as a fountain or small pond in the garden. You can even have an outdoor seating area complete with a fire pit. Installing solar lighting all through the walkway can also lend a beautiful impression on the renter.