Whatever the reason may be for renting your home, deciding to get tenants is a big step. While it may be a lot to plan for, preparing the home and making it look its best will all but guarantee that it will be a lucrative adventure for you. Therefore, in order for the home to be ready for guests and achieve top dollar rental income, consider the following tips. Further, don’t forget to require tenants to carry their own Clifton Renters Insurance to secure their belongings and assets, as well.
Complete a home inspection.
When your home is empty, thoroughly inspect it and repair major problems. Address potential problem areas including roof leaks, sagging or clogged gutters, driveway cracks, leaky faucets or pipes, electrical outlets, and burnt-out light bulbs. Also, inspect your floors to make sure they are sound, says Realtor.
Ensure the renter’s safety.
If you plan on staying in a portion of the home, ensure the renter has their own separate space and privacy. Door locks, smoke detectors, and new blinds can add a sense of security for your new tenant.
Make it spotless.
Dirty walls and stained carpets will turn off a potential renter faster than they can say “no.” Do a deep cleaning of the home yourself, or hire a company for a professional job. Don’t forget to freshen up the paint on the walls and wipe down the blinds- the little things count in this circumstance.
Notify your mortgage company.
Let your mortgage and insurance companies know you will not be living in the home anymore. Once you’ve notified your mortgage holder of your intent to rent out your home, you may have to meet specific mortgage-as-landlord requirements, says the article. Next, equip yourself with landlord insurance to protect your investment while renting out your home.
About Tri-State Insurance Agency
At Tri-State Insurance Agency, we are committed to protecting renters and homeowners against the broad spectrum of perils they face. Our insurance is custom written to meet your specific needs and offers the coverages you need at prices you can afford. For more information, contact us today at (888) 990-0526.