3 Things to Do Before Turning Your Home Into a Rental Property

If you’re moving in with a significant other or simply want to rent your home for other reasons, there are many things that you need to do to prepare for first tenants. Here are 3 things that you should do before you put your home on the rental market.

Have a Professional Property Inspection

Your home may look perfect to you, but there could be health and safety issues lurking that you are unaware of. In fact, millions of Americans live in hazardous homes and aren’t even aware of it. Hire a professional inspector to check for problems like gas leaks, HVAC issues, and pest infestations just to be on the safe side.

Get Rental Insurance

Rental insurance is imperative if you are renting your home to someone. Find out who insures apartments King George VA and interview a few companies to get an understanding of pricing and what each policy covers. In general, you will want enough coverage for everything in the home that is yours and that could be very costly and inconvenient to fix or replace should something happen.

Decide What Your Stipulations are BEFORE Move-In Day

All too often, homeowners get overly excited about the prospect of a renter and forget to ask the most important questions. Does the renter have a pet? Do they have small children? Decide in advance if you will allow pets, and if so, what types and size, and also if you will allow your new renter to have children (this mostly applies to those in 55+ communities). Avoid an awkward situation by deciding what you will and won’t allow and add it to your listing so there is no confusion.

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Renting your home for the first time is an exciting, and sometimes emotional experience. Ensure you prepare adequately in advance and you’ll have no trouble finding the perfect tenant.