Putting up your home for rent is a great way to enhance your income. A number of people in Killeen, TX rent out their home or a unit to get an extra income every month. However, it is very important that you find the right renter to minimize any troubles and successfully rent out your home.
Here are some tips that will help you in renting out your home without any hassles:
Review your insurance plan:
When you plan to rent out your home, the first thing that you need to ensure is that you have landlord insurance policy instead of homeowners insurance. The landlord insurance policy offers protection to your property and covers you if you lose your rental income. As landlord insurance does not cover tenants’ possessions, you need to inform your tenants about getting a renters insurance.
Screen the tenants:
To avoid eviction and other tenant issues, it is crucial that you screen the tenant properly. This may be tricky; however, with little patience and caution, you can get reliable tenants. In order to find a good tenant, you should verify the employment of the prospective tenant, screen tenancy history, secure references and run a credit check. You should make sure that the tenant keeps your property in the best shape and pays the rent on time. You can also ask the tenant to pay
a reasonable security deposit.
Complete the legal formalities:
You should make sure that your tenant and you, both sign the lease agreement. You can consult an attorney to help you with the legal documents and ensure that local rules and regulations are followed. You must also discuss the payment schedule with the tenant in advance.
Enhance curb appeal:
In order to attract potential tenants, you need to make your house attractive so that it lists in renters list. You can spruce up the house, lawn and yard, clean the rooms, and repaint the walls. You must inspect the house and fix anything that needs attention. This will help you maintain your house as well find good and reliable tenants.
Price the home competitively:
To attract good tenants, make sure that you decide a reasonable rent. For this you should check out some of the local real estate sites, visit a few competitive properties and then decide a fair price. Highlight the important aspects and features of your home and besides deciding the right price, make sure that you market your house in the best way.
We, at Hunter Rentals & Property Management can guide you throughout the home renting proces. For details, visit us at 1503 W Stan Schlueter Lp, Killeen TX 76549 or call at (254) 634-3311.