How An Owner Should Prepare To Rent Out Their Home

If you’ve been searching for a way to earn some extra cash, you might consider renting out your house. Some people do this after moving out of their longtime home that they don’t really want to sell. So, if you’re moving out but want to keep your homestead in the family, why not make some money on it by renting it out?

The thing is, if you’ve never done this before, you might wonder how you even prepare your old family home to be inhabited by total strangers as a rental.

We’re here to help. Here are some tips on getting your house ready to rent out. That way, when people out there start looking for houses for rent in Columbus, GA, or wherever you may be, their eyes will fall upon your property.

Create a lease with a lawyer

The first thing you’ll want to do is work with a local lawyer to draw up a lease that complies with the rental laws of your area. The important thing about a lease is that it adheres to all the basic rights that a landlord and tenant should have.

The rental agreement will detail the length of the lease, the responsibilities of each party, what the rent and security deposit will be, who makes repairs, whether pets are allowed, and so on. A good rental lease prevents problems down the road, so this is a vital step.

Get landlord’s insurance

You’ll need to protect your house from any and all catastrophic damage that can happen to it. Even beyond your renters themselves, who themselves could damage your house, natural disasters can blow through and cause lots of issues to your property. So it’s vital that you get landlord’s insurance on your home.

This kind of policy will cover damages to your home’s structure, major repairs, loss of income, medical costs arising from damage to the house, and more. This is a wise move if there ever was one, so don’t skimp on insurance.

Market your house correctly

The best rental homes wouldn’t make a single dollar if landlords didn’t do a good job advertising them. It isn’t enough to throw your house up online and expect people to come calling. You’ll need photos, good descriptions, and of course, some worthwhile features about your house that make it desirable.

People like high ceilings, granite countertops, central air conditioning, a yard, and hardwood floors. Of course, you don’t necessarily control what your house already has, but if you can manage to do some remodeling beforehand, this will help. Then, you’ll need some high-quality photos to show it all off.

Follow these steps, and in a short time, you should have some renters in your house and will be making some money!