Renting out a property to tenants can be an excellent way of earning a passive income. Many homeowners find that renting their homes out can indeed be more profitable than simply selling on, and it’s a more viable way of either adding to a monthly income or even providing an income altogether depending on the size of the property or the number of properties owned. If you own a home that you no longer live in and are considering putting it on the rental market for tenants, there are a number of things that you’ll need to do before you can allow your new tenants to move in.
Thorough Spring Cleaning
It goes without saying that your home should be spotlessly clean before you allow any new tenants to move in. The best thing for you to do is to hire a professional cleaning company to ensure that no areas are missed out and that your new tenants can move into a home that is absolutely perfect when it comes to cleanliness. Not only is thoroughly cleaning the home important to hygiene, you’ll also be able to spot any problems which could have been missed in the past as you go round making sure that everything is clean and neat.
Claim up to $26,000 per W2 Employee
- Billions of dollars in funding available
- Funds are available to U.S. Businesses NOW
- This is not a loan. These tax credits do not need to be repaid
Tenants don’t want to live in a home that has structural or other issues any more than you do. In order to make sure that your property is a safe place to live in, you should book a professional building inspection from a surveyor or other qualified professional. This will allow you to discover any issues with the home which may not have been spotted by the untrained eye, allowing you to rectify them before your new tenants move in.
Depending on whether or not you’re going to allow your new tenants to carry out their own decorating, you should consider how you are going to decorate your property before you rent it out. Many landlords will allow tenants to redecorate to their own tastes providing that it’s easy to paint back over once the tenancy agreement is up. If this is the case in your situation, the best thing to do is decorate the home in neutral colors such as white, cream or magnolia so that your tenants have a blank canvas which they can work with.
Maintain Outdoor Areas
Taking good care of the outdoor areas of your property not only makes things easier for tenants when they move it, it’s also a good way to improve your curb appeal and increase interest in the property whilst it’s on the rental market. Keep the garden trimmed and well-maintained and also invest in professional outdoor cleaning services such as floor power washing and covered gutters maintenance before the new tenants move in. For more information on professional gutter services, see thompsoncreek.com.
If you’re renting out a property, it’s important that you make sure it’s as nice as possible for the new tenants by following these top tips for preparation.