Temecula Rental Properties: How to Get Your House Prepared for the Rental Market

Temecula Rental Properties: How to Get Your House Prepared for the Rental Market

If you are moving out of your existing house and planing on renting it out, it can be a very stressful time. Not only do you have to deal with the inconvenience of moving all of your belongings into a new residence, but you'll also be forced to prepare the home you are vacatingfor the rental market. If you are new to the process, you will quickly learn that it can be a troubling and time consuming task, depending upon the locality and condition of the property. Here are a number of things to keep in mind when you find yourself in this situation

Get Professional Assistance

With 15 years as a Temecula property manager, I have witnessed people make costly mistakes that a property management company could have eliminated. Hiring an experienced property manager can instantly reduce your anxiety. They will know exactly what needs to be done in order to rent your home quickly and for the best possible price. Many people will mistakenly assume that they can save money by managing the property themselves, but in nearly every occurrence, a management company will rent the home faster, at a higher price, and to superior qualified tenants. Think of it this way If the home remains vacant for just one additional month, it has just cost the owner more than they would pay a property manager over the entire year! So getting a tenant in rapidly is critical to the bottom line profits.

Property Condition and Maintenance

Make certain that all basic maintenance issues are resolved prior to showing the home. A leaky faucet, dirty carpets, appliances/lights that do not work, and walls that need paint are just a few of the items that are very noticeable during a walk-through by a prospective tenant. Problems in these areas will result in longer vacancy periods as well inferior rents.

Proper Insurance Coverage

Hazard and liability insurance is different on investment properties than it is on a primary residence. The insurance carrier needs to be contacted immediately when you vacate the home and let them know that you will be renting the property. The last thing you want is to incur a loss and then find out that you are not covered because of inadequate coverage.

Put a "Team" List Together

If you hire a property management company, you won't need to worry about this one. But if you do not, then it is essential for you to have a quick and easy list of every potential maintenance person for every possible problem. It never fails that maintenance problems will occur on weekends, holidays, and the middle of the night and you'll need to know just who to call. Plumbers, electricians, air conditioning, heating, gas, carpet cleaners, gardeners, and appliance repairmen are just a few of the professionals that you will want to have on an accessible "speed dial". You might even want to have 2 of each in case one is unavailable. You don't want to be fumbling through the yellow pages at 10:00pm on a Saturday when a broken pipe is flooding the kitchen in your rental home!

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