Concerned that finding the ideal occupant for your beloved home is in the hands of your real estate agent, you may be wondering what you can do to be fully prepared when the phone rings.
Renting out your home can seem overwhelming, we’ve highlighted 7 key steps.
1. Get A Survey Done
Start from the ground up, you’re not going to be around so why not get a clear image of how structurally sound your home is before you have renters move in.
2. Install New Locks
This is especially important if you’ve had previous renters. In order to deem any potential loaned or lost keys useless it’s best to just replace the locks before moving day. You will need a few extra copies cut for the estate agent and/or yourself as a backup.
3. Do A Test Run
There’s no better way to find any issues in a rental property than to let the family stay and offer feedback. This will create a thorough to-do list!
4. Check And Optimize Utilities
Maintenance of the utilities usually falls in the hands of the homeowner so it’s best to make sure they’re in full working order. Consider exchanging them for more cost-effective items to reduce electricity and water cost. Or perhaps install a Hydrosolar geothermal heater.
5. Make All Repairs
Fix it now, or replace it later. While in some cases property damage can be recouped from the security deposit, it is important to first make sure the home and furniture are well maintained. Not only are broken or well-used items unappealing to prospective renters, what is considered ‘fair wear and tear’ is much more ambiguous if it was already in some way damaged. Failing to make repairs often result in further costs replacing items later.
6. Photograph & Market
Once you have cleaned and styled the house, have a professional take the photos. Having these taken by a photographer, as opposed to your local real estate agent will make a big difference. Presenting the right image of your home is crucial as it shows potential renters your unique selling point. People can be put off so easily by poor advertising!
This website goes more into the importance of optimizing for the best search results. When it comes to marketing, you’re going to want to consider the type of renter you are looking to fill your property and tailor your efforts to them. For example, if you are looking to attract a family, you’ll want to stick to the usual property websites and online platforms.
However, if you were interested in renting to students, you might want to look into a platform like Hybr (https://www.hybr.co.uk/landlords/list-your-property/) who can help you find the very best student tenants for your property.
7. Exchange Contact Information
Of course, the real estate agent is likely to handle the exchange of details whilst filing the rental agreement and signing the contract. However, make sure to request a copy for your own records.
It is also worth providing a book of pre-vetted contractors that, should there be a late-night emergency or they are unable to reach you, they can contact for immediate help.
This will help to reduce the chance of shoddy workmanship or extortionate costs being approved without your consent.
Check!
Checking off the items on this will not only help you to relax throughout what is, commonly, a very stressful experience. But will help to increase interest in your property over others in your area.
See here to learn more tips about coping with stress during a move.
