If you’ve decided to consider renting out a house in Charlotte, NC, consider these tips before moving forward, so your home and investment in your home is protected.
Hire a Professional
A property management company can help, if you are short on time or the ability to navigate the rental market. They are able to screen candidates, give you advice on what to expect financially and will be there to make sure that anything that needs to be fixed in the home is delegated. There are also professional carpet services and cleaning services that will give your home that extra sparkle, as to attract more renters.
Require Renters Insurance
Renters insurance is inexpensive and will protect your renter’s property, as well as your investment. This will also insure that if something goes wrong it is more likely to be covered, if the owner and renter both have insurance.
Choose the Right Rental Price
If you don’t hire a professional company, do research in your area for rental prices. If your asking rent is too high, you may lose money waiting for someone willing to pay a higher price.
Consider Renting as Corporate Housing
Renting for shorter term, may not be ideal as corporate housing is usually a month to month, 3 month or 6 month lease, but the rent being paid on time is more of a guarantee. The renters are also usually backed by the company they work for, so it is less likely that they will mistreat your property.
Renting out a house requires a lot of consideration and attention to details. You should list your pros and cons and analyze if you will hire people to help or list your home alone. Requiring renters to have insurance and a background check, will help you spend less money on repairs and give you more of a long-term profit. Once you’ve considered these tips and made your decision to rent out a house, you should feel confident that you’ve spent time on the details and should find good renters.