Home Owners - Helpful Tips For Preparing & Successfully Renting Your Home or Apartment

During difficult times many people are forced to downsize. Many people think about the idea of renting out their home and/or apartment. They may want the benefit of extra income to save money or pay down bills, or they may choose this method as a way to wait things out until the economy improves. Whatever the case is, there are some important facts you need to know and understand before taking that step of becoming a landlord/landlady.

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:

• Pay special attention to the kitchen and bathroom area. Be sure to clean all the drawers and cabinets, stove/oven and refrigerator. If there is any sign of termite (roaches, rats) hire a professional to exterminate the premises. 
• Bathroom - clean the shower, toilet, sink and any/all cabinets and drawers
• Paint the walls in neutral color
• If there is carpet -  replace/clean it

• Hallway/Stairs - must be kept clean

Curb Appeal:
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.

HIRE A PROFESSIONAL TO ASSIST YOU IN ALLOCATING A TENANT
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.