Getting Your Home Rent Ready
Many people decide to move and choose to rent their homes out. How do you go about getting your house ready to rent? There are a baker’s dozen of steps to getting a property ready to show to prospective renters. You can call that process, getting it Rent Ready. That means the property has been cleaned, repaired, or remodeled and that it’s in rent-able condition for new tenants.
Getting Your Home Rent Ready
1. Re-key the locks. Re-key all outside doors: mailboxes, side gates, and outdoor sheds. Re-keying and recoding locks make old keys unusable. Finally, change the garage door and alarm codes.
2. Professionally clean the carpets. Full-steam and shampooing the carpet work best.
3. Do yard work. Cut the grass, trim the bushes, prune the trees, pull the weeds, fix broken sprinkler heads, replace dead or dying shrubbery, and add some new flowering plants
4. Change the air filters. Replace any reusable air filters with disposable ones. which don’t require monthly cleaning
5. Get a professional top-to-bottom interior cleaning. Renters expect their rental property to be clean for move-in, so have the property professionally cleaned
6. Let in the light. Replace any broken light bulbs; consider putting in energy-efficient bulbs, which reduce energy costs and don’t need replacement as often.
7. Inspect your home. Make sure that all fans (indoor and outdoor) operate correctly and are dust-free. Address potential problem areas including roof leaks, sagging or clogged gutters, driveway cracks, leaky faucets or pipes, electrical outlets, and burnt-out light bulbs.
8. Clean away the cobwebs.
9. Clean, repair, or replace. Torn screens can allow pests into your rental property (besides being a security and visual problem). Cleaning windows and sliding glass doors lets in more light and helps them work smoother. Cleanliness applies to furnishings and appliances, too. If you are providing a furnished home, make sure everything you provide is in working order. Fix any holes in the walls before applying a fresh new coat of paint. Repair or replace any carpet that shows signs of damage
10. Spray for pests. It’s best to hire a professional pest control company now rather than wait until there’s a pest problem.
11. Determine how to manage your house. If you plan to manage the rental yourself, then secure a legal lease document for you and your tenant to use. If you’regoing to hire a professional property manager, give yourself time to find a reputable property management company.
Property management firms typically charge 4% to 12 % of the monthly rent for their services. WorryFreeTenant, for example, will screen potential tenants, manage repairs, collect rent, handle IRS payments, and deal with evictions if needed.
12. Notify your mortgage and insurance companies
Contact your mortgage and insurance company to let them know you won’t be living in the home. Your mortgage company has certain rights to the house to protect its security interests. Once you’ve notified your mortgage holder of your intent to rent out your home, you may have to meet specific mortgage-as-landlord requirements.
It would help if you switched your homeowner’s insurance policy to a landlord property insurance policy to cover any losses due to the tenant’s negligence, natural disasters, fire, or water damage.
13. Secure rental information. Once you identify a potential tenant to rent your house, ask them to apply through your property manager. Be aware of landlord and tenant rights, which will vary by region but legally govern fair treatment.
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Terra Firma Property Solutions, LLC, is a professional, full-service real estate solutions firm.
We buy and sell properties throughout the greater Kansas City area. We specialize in buying distressed homes, then renovating and reselling them to home buyers and landlords. Terra Firma Property Solutions: excited to be part of the economic rejuvenation of Kansas City and its surrounding areas.
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