If you have a home in a certain location, and nobody is living in it because you had to move to a new place due to your job or for whatever reason, one thing that you can do to your old house is to rent it out. You can also sell it if you wish to, but if you don’t want to lose it, then might as well look for a tenant so you can earn money from it. However, before you rent out your home, there are certain things that you need to do.
Important steps to take when renting out your old home
Having a rental home can help you make good money, but, of course, this will come with several responsibilities. So, below, we are going to highlight some important tips that you have to keep in mind before you have your house rented.
Inspect the house
The first step that you have to take before you start looking for potential tenants is to inspect the rental home. You have to make sure that it is in good condition prior to advertising it. Check and see if there are necessary repairs that need to be done. You can also repaint the exterior and interior of the home if its paint has already faded through the years.
If there is any sign of a pest infestation, make sure that you address it before you let somebody occupy the home. The last thing that you would want to happen is your tenants coming to you complaining about bugs. This will ruin your reputation as a landlord.
Advertise the rental home
Next up, if the home is ready to go, then you can already start advertising it. Where? Well, there are lots of places where you can post ads. You can list it on the classified ads in newspapers. You can also advertise online which is the most effective way of marketing a rental home. Here, more people will get to see your advertisements, and so, this will increase your chances of having tenants pretty soon.
Screen the tenants
Sure thing, you would like your home to be rented out as soon as possible, but this does not mean that you can already give it to the first group of people who come knocking on your door. Take note that the rental home is your investment and you have to protect it. With this, it is extremely important that you screen the tenants. Make sure that you have responsible people occupy your house.