If you are planning to rent out your home, your home must be in good shape. In some ways, renting a property is similar to dating. You want your property to look its best, have quality photos, and have a lot to offer. Here are three things you should do to prepare your home for renting.
What should I do to prepare my home for renting?
- Do a thorough inspection. The first step is to do a thorough inspection. Not only is this inspection necessary for your own records, but if you have pictures of the property, it is difficult for renters to make false claims. It is also important for your property to be as safe as possible, so uneven steps and cracked sidewalks must be addressed before you have renters move in.
- Assess your appliances and furnishings. The next thing you should do is you should assess all of your appliances and furnishings. Even if you do not plan to rent your place with furniture, you still need to look over your appliances. It is imperative that you make sure everything is in working order before you list your home for rent.
- Talk to your mortgage lender and insurance company. Finally, you should contact your mortgage and insurance company to inform them you will not be living in your home. Sometimes mortgage companies have rules on how soon you can rent your home after purchasing it. You may also have to switch your insurance from homeowners insurance to property insurance.
Renting out your property can be a big step, but you do not have to do it alone. If you’re looking for a property management team to work with, Walters & Co can help you transition seamlessly from being a homeowner to a landlord. We can help you list your property, assist you with property management, and even help you find investment opportunities in the Denver residential real estate market.