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5 things to do before renting your home

Renting your property may seem like an easy way to increase your passive income, but as you begin the process, it may be more complicated than expected. Your home can remain in the market for months without a rental applicant because it is priced higher than the fair market rent. A bad tenant may be late or directly refuse to pay the rent; They have the potential to make thousands of dollars in property damage and can ignore their attempts to evict them from the property until the authorities are involved.

So how can you avoid the headache of these common difficulties associated with renting a property? Here are five things to do before renting your home to reduce the risk and stress of being a new owner.

1. Take photographs of the property

 They are an important part of online advertising; otherwise, potential tenants often overlook favorable rental listings without images of the property because they do not want to have to wait for a tour of the house to discover that the property does not have a design or design that suits them. These photographs will also be useful when your future tenants move, as you can use them to measure any property damage that occurred during the rental period.

2. Evaluate fair market rental

While it may be tempting to charge a higher rent to recover money from recent renovations you have made or moving costs since you left the property, the best thing you can do is conduct a market investigation: check with the websites of rent, newspapers, local owners, real estate brokers and property management companies to determine the amount for which properties of similar location, size and condition are rented.

3. Create a concise and effective rental application

An effective rental application will not intimidate potential tenants with its length, but will be complete enough that it can be used for tenant selection purposes. Any additional information you need from the tenant in case they pass the evaluation can be included in the lease documents. A good application will have spaces for the following elements:

Date of birth
Social Security number
Phone number
Current / former addresses (last 7 years, including owner names and contact information)
Current employer (name, address, hiring date, income, contact information)
Authorization to obtain the declaration of the consumer report
Tenant's Signature
4. Consider using a property manager
Property managers will generally charge a percentage of the monthly rent for their services, but in return, they will take care of things like finding new tenants, creating / signing leases, collecting rent and issuing legal notices (including evictions). Hiring a property manager reduces the profits you will get from renting your tenants, so you should carefully consider the cost-benefit of these services.

5. Find good tenants

Finding a decent tenant is easier said than done: many applicants can be friendly, polite and seem to be a good option, but they will create a flood of problems for you. The best way to improve the quality of the tenants to whom you are renting is to perform background checks of the tenants, that is, choose tenants based on tax liability and measurable rent. Most landlords will charge rental applicants an application fee to cover the cost of the tenant's evaluation.

Common tenant evaluation services provided by AAACSS are credit reports, criminal background checks, landlord checks and employment verifications.

AAA_Credit Screening Services has provided tenant background checks for more than 20 years. Reports include criminal records, credit reports, eviction records, reference checks, employment verification and more. For more information, call 1-888-282-0447 or visit our site at https://www.hrbackground.com/property.html

AAA_Credit Screening Services is an A + qualified company with BBB (Better Business Bureau) and a member of NAPBS (National Association of Professional Background Examiners). All reports provided by AAACSS comply with the FCRA (Fair Credit Reporting Act).

Registering is easy and customers can start running reports immediately

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