How To Rent Your House In 2022

Getting Your House Resident-Ready

Consider many things before putting your single-family home on the market. While the cost of sprucing up your house can be overwhelming depending on the state of the house, it is not advisable to turn it into a DIY project. Most property management companies work with licensed contractors, ensuring everything is up to code and safe for tenants. We can help you refurbish your house with repairs and upgrades, allowing you to raise the rent based on the quality of living.

Renovations and Upgrades

The next step after ensuring everything is up to code is making renovations and upgrades. Since the coronavirus pandemic, most people have switched to working remotely. This means renovating existing space to create room for an office or turning the basement into a functional workspace by adding a desk and shelving. Fiber-optic internet is accessible in most parts of the country, and installing it is an excellent way of attracting at-home workers.

If you are on a budget, there are many cosmetic changes to choose from that won’t break the bank. One of the ways to achieve this is by modernizing the bathroom by updating the light fixtures or adding a fresh coat of paint in the living room. Ensure that the carpets are thoroughly cleaned and the hardwood floors resurfaced to enhance the appeal to potential tenants.

Landscaping

The lawn is usually the first thing people see when they walk by your house, so you have one chance at a first impression. Start by power-washing your sidewalks and gate to enhance curb appeal, and impress prospects looking for the ideal rental space. Consider livening the landscape with greenery like trees, flowers, and shrubs. If you have a garden, ensure it is well-maintained and the lawn is mowed regularly, giving your property an edge over other rental homes.

Conduct Market Research and Terms for Setting Rent

Once your house is resident-ready, you must conduct market research to determine how to rent without making losses or risking high vacancy rates. Property management companies have the extensive industry knowledge and a proven system for determining rent based on the current state of the rental market. If you are researching, start by visiting various neighborhood areas to assess available amenities like schools, hospitals, and shopping centers, among many others.

Hire a Property Manager

Homeowners who transition to landlords have no problem handling the leasing process, management, and upkeep of the rental home, but working with a property manager is crucial. At 3 Options Realty, we have a well-trained team that understands the particulars of managing rental property, helping you turn your home into a profitable rental property. Contact us today and start your journey to becoming a landlord with a team of professionals by your side.