How to Make Renting Your Property Easy
In today’s economy having the ability to rent out a property for some extra monthly cash is extremely helpful. But – a lot of homeowners or condo owners turn down the opportunity to become a landlord because of the added stress.
Caring for the property and making sure your renters are comfortable and satisfied is no easy feat. However, there are ways to make the experience way less daunting and will have you pocketing that extra cash in no time.
We’ve put together some simple tips and tricks that you can follow – or take into consideration – next time you’re thinking about amping up your title from just homeowner to the landlord.
Whether you’re looking to rent out an entire home, condo, or floor of your house this article will work for you.
Hire a Real Estate Company
Hiring a Real Estate company is the easiest way around getting your property rented quickly. Depending on where your renting property is located Nomadic Real Estate can be the right option for you. However, there are plenty of databases you can look through for your right fit.
A real estate company will take the burden of not only finding you a tenant but taking care of all the legal logistics. Basically, they’d be taking the responsibility off of your shoulder and onto theirs.
Services that real estate companies generally offer to include:
- Marketing your rental property across different platforms
- Schedule and carry out showing off your property
- Take care of credit and background checks of potential renters
- Fill out and obtain all the needed paperwork to get the job done
While these companies are amazing at what you do and will almost guarantee you a renter stress-free, there is a cost. The price varies depending on your area so it’s important to do your research and decide whether it’s within your budget.
Every potential landlord has their own unique situation, and oftentimes it’s not the stress of renting that throws them off.
Sometimes individuals back down from renting out their property simply because they aren’t having any luck with potential tenants choosing their property. This could be for a variety of reasons, location, price, size – but one of the most common reasons is that they just don’t enjoy the aesthetic of the property.
Luckily for you, that’s a very simple fix. Cosmetic procedures like painting the walls, adding some new lighting, or even new countertops to the kitchen can make such a big impact on how potential renters view your space.
Promoting Across Platforms
Another common struggle landlords go through is actually getting their property seen by potential customers. With a real estate company all the marketing is done for you, but if you’re heading into the renting space yourself, here are some things you should know.
Cross-promoting your property is the way to go. CraigsList, Kijiji, Instagram, Facebook, Twitter – these are all places you’ll need to post about the rental opportunity.
If you want to go a step further, some professional real estate websites allow you to pay a fee to have your property listed.
Get On The Market
It’s time to get out there and hope for the rental market! Always make sure you do your research before hiring a real estate company and make those cosmetic fixes safely and using the proper materials. Good luck!