If you are finding a way to make some passive income, you can rent your house when you are traveling or rent your spare room. However, finding a tenant can be extremely difficult if your house is not in a good condition, which is why you must repair any damage and prepare your house before renting it out. Preparing and remodeling your house is also useful if you want to sell your property in the future. It may take some initial investment but the results make the money spent worthwhile. Here is how you can prepare your house for renting and make a good first impression on your tenants.
1. Clean it Up
Needless to say, you must clean your house before renting it out. You need to create a good first impression on your potential tenants, and a dirty house can be quite off-putting. Start by cleaning the carpets, tidying the openings, and changing the curtains. Reach every corner of your house and make sure that it is dust-free. If you do not have time, consider hiring a professional cleaner. Usually, the kitchen and the bathroom are the most unhygienic spaces in a house, which is why you must pay specific attention to these rooms. This will also instill a sense of responsibility in your tenants as they will keep your house cleaner than usual.
2. Consider Repainting It
If possible, repaint your house to enhance its aesthetic appeal. At times, simply repainting your house can give it a new look, which can change the entire vibe and make the space more pleasant and livable. If your walls have adorned the same old dark hues until now, it is time to change the color palette and decor theme. Find the latest trends and new color palettes used by interior designers. If you have the budget, consult a specialist to make minor changes in your spaces. You can also consider replacing the old furniture and appliances to provide a better experience for your tenants.
3. Repair the Damage
Inspect your rooms and the entire house to find areas in need of repair. Check your roof, openings, fixtures, electrical outlets, walls, and floors to find cracks, sags, or other signs of damage and get them repaired at the earliest opportunity. Once your property is ready, you can also list it on the market to sell it. Several websites sell pre-owned houses and can help you fetch a good price. If you’re interested in selling your house, the brokers from this link say you can take help from real estate agencies to get an overview of the listing types and the prices. Once you repair the damage and prepare your house for being rented out, you can demand a higher price for your property. Ideally, you will also be able to maintain your property’s value in the future.
4. Consult Your Insurance Company
When you become a landlord, you need to inform your insurance company about the changes in order to remain compliant with the relevant policy requirements. Typically, property owners get a house owner’s insurance policy which is then changed to landlord property clauses and policy. Failing to consult or inform your insurance company will result in major financial losses in case of accidents or fire caused during the tenants’ stay. This is a sure-shot way to keep your property safe when renting it out to other people. At the same time, consult your mortgage company too and inform them of the new changes.
5. Enhance the Curb Appeal
When you bring your potential tenants to your house for a site visit, the first thing they will see is your landscape and the curb. Even though the curb is not an integral part of your house and the living aspect, it can affect your tenants’ decisions. An attractive curb appeal and yard can make this offer more compelling and help your tenant make an informed choice. Mow the lawn, plant more flowers, and tidy your landscape. You can also add some accessories and night lights to make the setting more appealing. To take it one step further, paint your porch and change the front door.
6. Ensure Safety
As a landlord, you are responsible for your tenants’ safety to some extent. Check all the accessories and make sure that the smoke detectors and fire alarms work properly. If not, change them immediately. Broken fixtures and light bulbs can be dangerous too, which is why you must replace them at the earliest opportunity.
Take proper photographs and stage your house to rent it out quickly. Needless to say, you must be friendly and adhere to your tenants’ requests (as far as possible) to sign the deal without delay. With these tips, you are ready to rent your house or a single room and earn passive income every month.