Should You Rent Your Home?
Thinking of renting your home? Where do you start?
Get the house in shape, including interior and exterior painting and patching, carpet cleaning, appliance tune-up, ensuring adequate insulation, and fixing what needs fixing. Choose neutral paint colors and consider that most tenants will expect some sort of window coverings. A home inspection could help you to get your home in tip-top shape and give you a clear picture of the condition of your home before a tenant occupies it.
A property management company can research prices in your area and help you to establish a competitive price point. They can also help you to determine which services you should include as a part of regular maintenance and minimize costs over the long term. You may choose to include lawncare, pest control, pool service, etc.
It’s not essential to hire a property manager, but it can make life easier, especially if you move out of the area. Interview at least three companies. Ask about customer service, tenant screening, experience, vacancy rates, maintenance, monthly reporting, handling evictions, insurance, fee structure, and inspection of the property.