How to Prepare For a Tenant to Rent Your Home
Having new tenants move into your property can be exciting, but it can also be very stressful, as there are many things you need to take care of before they move in.
However, having so many things to do, there a high chance that something will be forgotten, which is why it’s always advisable to plan everything on paper first. And to help you with that, here’s a list of some of the things you should check before having new tenants move into your property.
Additionally, when the time comes, you’ll need to keep in mind that selling a house with tenants is not always easy. Read what you need to know at Maximum Real Estate Exposure before making that final commitment.
First things first, you want to repair any possible damage and anything that could be a health hazard to your new tenants. This includes potential holes in the walls, broken locks, peeled paint, etc.
Moreover, make sure your smoke detectors are still working correctly, and if they are not, replace them. As for the health issues, check your property for mold and moisture, and if it’s an older property, also check for any lead-based paint hazards. Finally, have your property examined for any bugs, and exterminated if needed.
Clean your property
Needless to say, your home needs to be clean when your new tenants move in. This is especially important if somebody has been living in it before. The rooms you need to pay a bit more attention to are your bathroom and kitchen, as they play a bit more critical role in terms of hygiene.
If you’re not that thorough when cleaning, don’t hesitate to hire a professional. If you don’t clean it thoroughly, rest assured that your new tenants would notice, so don’t skip this step.
Update your furniture
Your furniture should be up to date. If you furnish your rental in a way that would make you feel comfortable in it, you can be more confident that your new tenants will be satisfied as well. So, if there are any required furniture repairs, take care of them. Any items that are starting to look old should be replaced or refurbished.
Also, think about your target audience. For instance, if you’d like to rent your property to students, they will need a place to study and lots of shelves for their books and notebooks, so keep that in mind too.
Check the heating, plumbing, and wiring
Next step is to check whether all the utilities are working correctly. Your heating and cooling units should be in good shape, and you should also check for any leaks or clogs in the plumbing.
Moreover, make sure all the outlets are functional. These things might seem irrelevant, but they can significantly affect your tenant’s quality of life, so have no doubt that they would appreciate you checking these details.
Review the lease
When you do find new tenants, go over the lease agreement slowly with them. They need to understand their responsibilities, so there aren’t any misunderstandings later. Once you do go over every section, ask them if they have any questions or perhaps anything they’d like to discuss regarding the lease.
If you both agree with all the terms, you should sign the lease and date it. Just don’t forget to check the lease yourself before you show it to your tenants – perhaps there is something you’d like to change or add based on your previous experience.
Consider your tenant’s wishes
As mentioned, sometimes, the tenants will have their own requests and desires. For example, they might want to repaint the apartment in a specific color, they might want to have a small pet, or they may need something specific, like a suitable computer desk and chair for their home office.
In these cases, you decide how much you want to accommodate them. And if you choose to do so, you should also add those things to the new lease agreement as written proof.
For example, if you agree to provide the desk, but they already have their own chair, you also need to add that, so there are no misunderstandings about what belongs to whom when the day comes for them to move out.
Change the locks
Before your new tenants move in, make sure to change the locks on the doors. This is done for their safety, as you never know whether the past tenants had made any spare keys or given them to their friends.
Even if you never had any problems with them, your new tenants will still not want anybody to have the keys to their new home beside them. Plus, it’s not that big of an investment, so it shouldn’t be a problem for you.
Review the condition of your property
On your new tenant’s move-in day, go over the state of the property – describe every room and every item in it. This is essential for both of you because it allows you to compare the condition of the property when they move in vs. the condition when they move out. After going through your checklist, you should both sign it and have copies of it.
Additionally, you should also add to your lease details about who pays for which potential repairs. For instance, while your tenants should change the light bulbs and fix smaller issues if any major appliance gets broken down, it’s your responsibility to replace or repair it.
Exchange your contact information
Last but not least, you should give your new tenants your contact information, and you should have theirs. This is essential in case they have any questions or in case something gets broken, and they need to let you know.
Also, you should set some rules in advance. For example, maybe you don’t want to be called during business hours, or perhaps they don’t want to be disturbed in the evening. Either way, discuss these things to avoid any issues in the future.
Having new tenants move into your rental is a big deal. So, to make this transition as smooth as possible for both of you, there are some things you need to take care of in advance. Therefore, think about the listed tips, follow them, and you should have no problems with your new tenants.
More Great Real Estate Articles Worth Reading
- Do I really need a real estate agent – see why having a top-shelf real estate agent is a critical part of buying and selling a home. To not have someone in your corner, fighting hard for your best interests is a huge mistake.
- Garage improvements worth doing – learn about what garage improvements can be worthwhile investments, especially when you are going to be selling you home at some point in the near future.
- How to make your rental more energy-efficient – see some great advice on how to make your rental property far more energy efficient.
Read these articles to make excellent decisions when you are going to be purchasing or selling a home.