Make it Rent:
Having trouble renting your home? Has it garnered some interest, but no serious applications? As a landlord, sometimes it is possible to miss certain factors that your potential renters prioritize, especially if you are new to renting out a property, so here is a list of things you may want to consider as you offer your place.
The top priority of many searching renters (after location) is cost. Even if a house or apartment is fairly close to where they work, it may simply be too costly for them to consider. It is important for landlords to be fair in their pricing, and to be especially conscious of this factor if they are first-time landlords. It is a good idea to be aware of the rental market for comparable living spaces in your area, and then use that information to determine what you want to charge – but also be realistic about what you are offering. If you would not pay what you plan to charge, either change the price or modify the unit accordingly.
Now that you have determined your base price, it is time to consider if and how you will tackle renovations. You may need to pay somebody to install things or fix problems, so be aware of that potential cost. Honesty is key when showing your rental unit, whether in person or online, so be sure to notify future tenants of any problems or modifications that will need to be addressed. Experienced renters can identify when they are being misled by inaccuracies or exaggerations, and they will not want to rent from an untrustworthy landlord. You may choose not to make certain alterations to the rental space if they are minor, but if the issues have any potential to be hazardous, they must be addressed immediately so that you are not in a place to inadvertently harm (and possibly be sued by!) your tenant. Be sure to research your state’s and city’s regulations concerning issues such as placement of carbon monoxide detectors and disclosure of hazards like lead paint.
Cleaning is another way that you can entice renters into wanting your available space. This is a no-brainer: while searching renters can expect to have to do some cleaning as they move their furniture and possessions into their new rental, many will be put-off by dirty or messy units, and decide to look elsewhere. Even if your unit is perfectly suited to their needs, it can be very difficult to see past an unclean first impression, so make sure that you give adequate time or hire help to clean the unit and make it as inviting as possible. On a related note, you should include pictures with your listing, if possible. Pictures with furniture in the unit are not a bad idea because they can show how the space can be utilized, but it is vital that everything showcased in the pictures be organized and neat.
In short, you want to make the renting process as easy as possible for both yourself and your renters. You can also save time and money by using PayRent.com, a landlord can accept online rent payments from anywhere at any time.