5 Tips for Renting Out Your House for the First Time
Renting out a property can be a rewarding and profitable experience, but may be difficult if the right steps are not taken. Renting out your property does not have to be a challenge! Follow these 5 simple steps for a quick and tear-free experience.
1. Price competitively
Prior to listing your property, research properties for rent in your area. Consider the size, location, and amenities of your property and compare prices of properties with similar characteristics. Many websites can provide an accurate range of prices for properties that are similar to the one you're renting out.
2. Promote effectively
Promote the property with a well-written profile and pictures that help summarize the home. Create a full description of the property, and include everything that it has to offer to the prospective renter. Remember that you also want to find clients right for your house, so be sure to include any specifications that will go along with the contract, such as property policies and tenant responsibilities.
Bonus Quick Tip
The pictures that you use to promote your property should be of clean, well-lit rooms and should include any of the "selling points" of the property.
3. Cross-list your property
Reach out to more potential renters by posting your advertisement on numerous web pages, including RentalGuide.net and HomesAndLand.com. In addition to online posts, adding signage to your yard or local community board will help promote the property to any passerby.
4. Maintain often
Ensuring that the property is visually appealing to potential renters is also a major component in successfully renting out your home. If the exterior has an unkempt lawn, trash, or any other visual disturbances, this could deter prospective renters that view the house. The maintenance of the interior of the house is equally as important. When you are showing your house, present it in "move-in condition." The tidier the property looks, the more positive of a takeaway the prospective renter will have about the property.
5. Practice professionalism
The level of professionalism of the landlord can be a major impact on a person’s decision to rent a property. Be knowledgeable about the property and neighborhood. When prospective renters ask a question or voice a concern, you can demonstrate professionalism by answering any questions with confidence and ease. When a person contacts you with an interest in your property, return correspondence in a timely manner. Even if you are receiving numerous inquiries about your property, treat each person with an equal amount of respect, and you will find a tenant in no time!