Tips for renting your home for the first time
Renting your home can be of great benefit to you. At the same time, you will receive money, and someone will take care of the maintenance of your home, yard, etc. Good combination, right? So, if you just got the opportunity to rent your home, and it’s the first time you’re doing it, you’re in the right place. We at All State Moving and Storage company will help you and reveal many useful and important tips for renting your home for the first time. That’s why we’ll get straight to the point. Come on!
When renting your home for the first time, you need to meet Housing Laws
Renting out real estate does not mean just giving the key to the tenant and taking the money. This is one of the legal affairs, and it’s very important that you as a landlord are familiar with the law, as well as act in accordance with it. Therefore, you as a landlord mustn’t discriminate against people on the basis of color, race, or religion. Also, your rental property must be safe, which means that you must check the electrical installations, water, gas, etc. because if an accident occurs, you can be held responsible.
Also, the law regulated other acts of renting real estate, such as determining the rental price, eviction of tenants, the stay of pets, as well as respect for public order and peace. Observance of peace and order is very important if you rent out, and this rule applies to your tenant. But if they don’t exist, you will pay the fine.
Also, when it comes to renting out real estate, the most important thing is to make a contract with your tenants. In the contract, you should clearly state the period in which you rent the apartment, the rent price, your terms and conditions, the length of the notice period, as well as a list of inventory. Also, a clause can be included in the contract that after signing the contract, all damages in your house/apartment will be borne by the tenant.
Post an online ad for renting your home
One of the most important things is posting a quality rental ad. But before that, there is something you have to do. And that is to prepare your apartment. Because neatness and cleanliness will certainly attract your tenant, right? So, first, you need to clear the apartment of your belongings. If you don’t have them anywhere, you can always count on storage units Virginia. Next, you need to clean your apartment. Also, cleaning agencies can complete the job. And you decide whether you rent out a furnished apartment or an empty one.
After cleaning, your home is ready for photography. Try to take good photos and capture every detail. But also, avoid taking many photos, 10 is quite enough. After that, you can place your ad. And you have one more thing to consider and that is the rental price. Local movers Virginia revealed to us that the real estate market in Virginia is large, and prices depend on many factors. If you are renting out real estate in Virginia, do your research. Rental prices in Virginia are around $1,792 and the price depends on the size of the apartment and house as well as the location.
Hire a real estate agent when renting your home for the first time
If all of this seems a bit complicated to you and you are not sure that you can do it yourself, perhaps the best solution is to hire a real estate agent. Because your real estate agent will do all the work for you. Just like long distance movers Virginia when it comes to moving. So, your agent will take care of posting the ad, making an inventory list, and estimating the rent. The real estate agent will help you plan everything down to the smallest detail. And at the same time, it will protect you legally from any problem that may arise. Because lettings and the role of the landlord is very demanding. Also, the real estate agent will conduct the first meeting with your tenants and also check their rental history and experience with previous landlords.
Meet your new tenants
This is perhaps one of the most important tips that we will give you. And that is to meet your tenants. Because you can’t let everyone into your home and let them live there, even if you get money for it. Renting out an apartment can be a good thing because you will provide someone with a place to live for an affordable price, especially if it’s a family with children. But even in those situations, you have to be careful. So, here are some ways to check your tenants:
- Ask for a copy of your ID, bank statement, and proof of employment
- Read the letter of recommendation
- Contact the previous landlord and ask about the experience
- Check the tenant national database
This is one way to insure yourself when renting your home for the first time. By checking tenants, you will protect your property and save yourself from unpleasant situations. If your new tenants have a bad recommendation or their finances are not stable, keep looking for other people. Because it can lead to unpleasant situations, rent arrears, destruction of property, as well as the eviction of tenants. That is why it’s very important to be familiar with hosting law, as well as to ensure you and your property with a contract. And of course, always be on friendly terms with your tenants and respect their privacy. And yes, don’t forget to check that they pay their bills regularly!