There are lots of reasons why you might be renting your home out to tenants. You may have moved into your new partner’s home. Perhaps you are moving away for your job but don’t want to rush to sell your home. It could just be that you’re taking a lovely long vacation, but could do with the income from renting. Whatever your reasons, chances are your home may need a little attention before you hand over a set of keys.
If you’re thinking about getting tenants to live in your home, you need to consider whether you will be letting it furnished or unfurnished. Even if you’re happy to provide furniture and appliances, you don’t have to leave your own personal items there. Many landlords buy cheaper, durable furniture and appliances. You can then put your things into storage with your other beloved possessions until you’re ready to use them again.
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Next you need to consider the local regulations for tenants and landlords in your area. You may need to install new fire alarms or special doors on your property. Some areas require that you provide fire blankets and extinguishers too. Landlords for furnished properties may also offer free WiFi or TV subscription packages to their tenants. It depends on the kind of people you’re hoping to attract to your property.
Now you can finalize the details of the contract and the list of contents and fittings. It’s time to advertise your property as available. There are plenty of different online websites to choose from. You could also pop an advert in your local newspaper, or leave cards in the window of your local stores. Alternatively, you could pay a property agent to manage the process of finding and vetting a suitable tenant.
Many landlords use property management service providers. This ensures repairs and maintenance of the property are carried out. Professionals are used without the need to manage contractors yourself. It takes the stress and hassle out of these kinds of problems. The company may also manage the tenants on your behalf too, allowing you to be completely hands-off. This is ideal if you are traveling.
It is also a better option than leaving the property empty while you are out of State. Buildings don’t always fare too well when they are left empty for long periods of time. They may become vulnerable to the weather, or you may end up with vandalism or squatters damaging your house. A small amount of mold left for only a short period of time can quickly lead to a serious health hazard and rot. A property manager ensures your home is structurally sound and suitable for living in
Taking on all the duties of a landlord yourself isn’t easy. Do you have a lot of good DIY skills? If you don’t, it could be best to make use of a service that will tackle repairs and maintenance on your behalf. Accidents happen too. To be sure a tenant is safe in the home, it can be essential to respond within just a few hours to make repairs. This isn’t practical if you don’t live nearby. Make sure your property is in good hands.