Ask yourself one question, are you ready for the responsibility and do you understand them?
With that said, being a landlord is one more responsibility you'll need to fit into your life, and it's safe to assume that things will sometimes fail to run smoothly. You'll need to stay on top repairs and maintenance, collect rent, dole out more for your home insurance policy and try to avoid creating a less appealing home for potential buyers by keeping an eye on your tenant's housekeeping skills.
Tips For Preparing Your Home or Apartment For Rent:
No one wants to rent a dirty property no matter how great the rent or the neighborhood. The cleaner your home is, the easier you can find a tenant. Before you put your rental on the market spend some time and thoroughly clean it:
Get raid of the weeds and garbage from in front of the premises. Add some seasonal flowers. A welcome mat can make a big difference.
Remember, good tenants are vital to success.
Often homeowners/landlords think that they have a better chance of renting their home or apartment by themselves by putting a "FOR RENT" or "APARTMENT FOR RENT" sign on their window. Yes, you will receive lots of calls from people wanting to rent but ask yourself one question, are they qualify to rent your home or apartment? Do you know how to qualify them? Hiring a Real Estate Professional will assist you with this process and help you secure a qualify long term tenant.
Benefit of enlisting the service of a professional:
- A Real Estate Professional will advertise your home or apartment for FREE on several online marketing websites.
- They will pre-qualify all potential tenants through a screening process before bringing them to view your home or apartment.
- They will provide you with all the necessary documents needed in order for you to make your decision.
- They act as a "buffer" with negotiations with all parties throughout the entire transaction.
- They help with all disclosures and paperwork necessary in today's heavily regulated environment.