Written by Tenant Screening Services, LLC
Many people may find that renting out their home may help them gain more financial stability and freedom. In order to have a smooth transition, it is best to consider all aspects before renting out your home. Here are 3 top tips for successfully renting out your home.
Understand the responsibility involved – The benefits of renting your home apart from the added income are numerous. However, once you rent your home, you will have other responsibilities, such as collecting rent and handling minor to major repairs. To reduce maintenance costs it is best to run a criminal background check on all potential tenants.
Prepare your home – Tenants can be choosy and since it is a down market, tenants will have higher expectations. Start by thoroughly cleaning your home and make sure all appliances are working. If you are renting a room in your home, make sure that you can secure it from the rest of your home. Once your home/ room is ready list out the benefits of your property from it being close to a school district, to being in close proximity to public transport. Once this is done, you can place an ad in the local paper or on a property web site.
3. Hire Professionals – If you are renting out a large property, it is best to hire an attorney. An attorney can help you understand landlord-tenant laws and your community’s rules governing rental properties. An attorney can help you draft your lease and make sure it follows local laws. You can also request assistance on completing a landlord credit check on any potential tenants.
Tenant Screening Services, LLC provides tenant screening services including background checks online.