There is nothing more frustrating than having who always frustrate you in terms of payments. No one wants to be a landlord who has to deal with such tenants.
The question that many people ask themselves is why landlords get in such a mess in the first place. The correct way to answer this is that many landlords do not follow the right way when renting their property from the beginning.
Many of them view the process of filling the vacancy as the real task, but in reality renting out your property is the real task. If you know the right way to rent out your property from the beginning, then you will avoid all the headaches that many people go through.
Whatever the reason for renting out your property, doing it right is the key. Some of the factors that can make a person rent out a property are;
– A person has tried to sell it, but the market is too soft
– Temporary transfer from the area of work
– A person owes more than the worth of the house and can’t sell
There are many horror stories that you might have heard from other landlords about costly evictions, professional tenants from hell, destroyed properties and all other reasons as to why you shouldn’t rent out your house. While there are some incidences where this happen, there are millions of happy landlords who have rented out their properties to good tenants. While the hassles involved can’t be fully eliminated, the tips below will help you know how to rent your property.
The first step is asking yourself a number of questions
Before you hand over your keys to a complete stranger for care, there are a number of decisions you have to make. The decisions must be made before even finding tenants. This will determine the rate of your success as a landlord
Why Rent Your House?
This is applicable for people who are weighing between renting and selling. One thing to remember is that while a home is a necessity in life, it is not an investment or an asset.
What conditions do you want your house in?
There is no possible end on what you can do to our house before renting it out. Make sure that the property is in a good condition and free from any repair. Have a professional carpet cleaning to do cleaning before showing your prospective tenant the house.
Should you use a property manager?
There are advantages and disadvantages of using a property manager. They can charge around 10% of the monthly rent and 50% of the first’s month rent when there is a new tenant moving in. The property manager will do pretty much everything.
How much can you rent the house for?
The amount of rent paid is usually determined by what the market is willing to pay. Your work is to find out what the marketing is willing to pay before looking for a tenant. There are many different sources, both online and offline that you can use to determine the market rate.
The above questions will help you know more on how to rent your property.