The Renting Guide- Things to Know Before Renting Your House

Renting out your property is a challenging task. There is marketing, planning, and responsibility involved with it. For renting your property you need to make sure that you find the perfect tenant who will follow their fair share of responsibilities while you do yours. If you want to be a successful landlord and to rent your house, you must keep up with the following points.

Is It Rentable?

One thing to ask yourself before you rent out your home is to make sure that your house is rentable or not and therefore habitable. Make sure that your house looks in the best manner possible. You don't want your house to look like something out of the set of an apocalyptic movie. You need to make sure that your house is in the best shape possible before you rent it out. The first thing that you need to do is to have a home inspection which will allow you to know the weaknesses of your house to be it structural or mechanical or electrical etc.

You can find a good number of house inspection services in Philadelphia, Pennsylvania. You will be provided with a deep analysis of your house which you can use at your expense to mend the repairs of the house. The report will tell you how habitable your house is. Make sure you get the repairs done timely and properly because it is your house after all. Make any repairs or upgrades that are necessary for you to maintain your house. Fix anything that could pose to be a danger to your tenants or their occupancy.

Landlord Services

A landlord's job is just about giving a habitable home it is about some services that are to be provided. These services include the repair work, the paint job as well as the cleaning of the house which might even be a clause in your contract and a job that every owner should do. You should make sure that your house is maintained properly so that no fault lies at your end.

Make sure that you get your insurance done and that your agent knows about your rental information. You want to make sure that you have higher liability coverage. Your insurance agent will know what all causes and terms will be needed to rent your house, with accidental coverage.

The Rent

You don't want to have a handsome rent that will cover most of your expenses and maybe even is saved for future investments. You cannot go on charging and realistic rates because then you'll never find any renters. Make sure that it is searched about the rent in your area and the third research on rent rates before renting your property. You could search online, on websites etc for the perfect rental. It also depends on how and what your house has to offer. It could have some extra bedrooms or a library backyard with the pool or even a Jacuzzi. These features do help in increasing your rent.

The Legal Stuff

Make sure that you make the legal rental policies and leases known to your tenant. These policies could include an agreement to all the various properties that you wish to have.

It couldn't wall what kind of rentals you need, a pet policy which allows or denies your tenant having pets. Then there is another clause which makes sure that the tenant pays the rent on time. There could be clauses about the damages that are caused due to the tenant. They could even be a behaviour clause which bars your tenant to have any sort of illegal prohibited activity in your home

The "not My Fault"

There could be Times at the end of the move out that your tenant might not accept. This is where the most common and famous lines of "this were already there", "this had happened even before I moved in", "this is not my fault". You need to have proof that the damage caused is not from your end. Make sure you take photos of your home before the move-in of your tenant. This doesn't end with you taking the pictures before the movement but it also requires a discussion on the condition report with your tenant about all the cracked walls or leaking taps and even the loose doors. Minor damages can be paid for what if the tenant's damage exceeds a common price or even the security deposit.

Conclusion

Giving your house on rent and being a landlord involves a lot of responsibilities. There could be pending damage repairs or any other problem that could affect the life of your tenant as well as you. Make sure that you follow a proper pathway to put your house up for rent.