If you are thinking about preparing your house to be a rental, there are things you need to consider. If you’ve been living in the house a while, there may be broken or worn-out items that you have overlooked, or there may be safety issues or even legal issues that need to be resolved before you put your house on the rental market. It is in your best interest to do some preparation before you post the “for rent” sign.
Just because the house was “good enough” when you lived in it, doesn’t mean that it will stand up to the demanding standards of today’s renters. Some of the things you need to do to prepare include:
Remove all personal property.
Especially leftover items like paint cans, old tables, yard tools (unless necessary), or things that are cluttering up storage spaces. These items tend to be magnets for additional items left behind by future tenants, and can become unmanageable over time, not to mention unsightly. It is also difficult to inventory items you have left and keep them separate from tenant property.
Clean out the garage.
One of the pet peeves tenants have is a messy garage that can include dirty floors or walls, pet reminders, burned out or broken light fixtures, and cobwebs. Take the time to sweep out the garage and perhaps add a coat of paint.
Repair structural or systems defects.
Tighten handrails, repair steps, and remove hazards inside and outside the home. Make all repairs. Make sure all heating, plumbing and electrical elements are up to code. Elevated decks, and deck rails, flooring and framing should be inspected by a Class A contractor for structural safety.
Supply working appliances.
Repair or replace any appliance that is not working property, to include the refrigerator, washer, dryer, stove, microwave, etc.
Install smoking detectors. At least 1 working smoke detector must be installed on each level of the home.
Your Home Now Becomes a Business
It is important to note that when you become a landlord, or an absentee landlord if you hire a property management company like Propman, you are going into business and need to consider all the things that a business owner needs: special insurance, IRS filings quarterly estimates, quarterly maintenance expenses, tenant damages, HOA violations, etc.
Propman Can Advise You
Although we at Propman Property Management are not professional inspectors, we do have many years of experience in the rental home business and can walk through your home with you to point out areas that, in our professional opinion, need attention.
We can also describe how we work with absentee landlords to attract, qualify and keep high-quality renters, manage rent payments and disbursements, handle repairs and emergencies, and make your job as a business owner easier.
If you have a home you’re thinking about renting out, call Propman. We’ll be glad to walk through your home to help you ready it for the market.
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