How to Prep Your House For Rental
Renting your home out is a big deal, talk about first impressions! A lot can go into the preparation of renting out a property to guests and we are here to talk about what you can do to make sure you are prepared. Keep reading to see what Team Olivas has to offer for your future property management skills in El Paso.
- Make Your Potential Occupants Feel Safe
When it comes to renting out your home, the #1 thing you should consider is the safety of your home. It is important for potential residents looking at your home, to make sure everything is top condition. You could do this by repairing any damage to the home, including leaking roofs, checking the piping systems, fixing any electrical outlets that could be exposed, and so on. It is also important to check out any other media that are huge in safety precautions. This includes ensuring that your smoke detectors work, having fire extinguishers in different areas in the house, and installing CO detectors.
- Have Your Home Look Presentable
As you deal with property management in El Paso, the most important way to sell your home is to have it look nice. Nothing turns a potential renter away faster than when a house looks sloppy and unpresentable. So it should be no surprise to make sure your house is clean with the floors, windows, carpets, and anything else in the interior. It would also help your goals of achieving a rental owner, if the exterior of your home was kept up with as well. This includes the yard being tasteful, the paint on the house being unchipped, and the driveway being free of any debris.
- Remember the Behind-the-Scenes
Now that you set up your home to have new residents moving in, the next step involves the behind-the-scenes that many might not realize. For example, determine how you’re going to rent out your home. Whether you deal with your own property management or have a property management company in El Paso do this for you, it is critical to get these situations figured out for legal purposes such as your lease set up and IRS payments. You also need to notify your mortgage and insurance companies about not being an occupant in your rental home anymore so that they may help you switch out your insurance plans.
- Market Value and Viewing
Once you get through the biggest parts of setting up your home for rent, all you need to do now is figure out your rental value of the home, and have potential renters go through your newly set-up home. Once you find a potential candidate, make sure you ask them to fill out an application that includes information about their previous landlords, credit scores, employment, and things of that nature.