subject: Looking For A Residential Property To Rent - Here's Your Checklist [print this page] Looking For A Residential Property To Rent - Here's Your Checklist
A lot of people have their dream homes. Most are still saving for the money to build one, and while doing this, they are perhaps just living with a member of family who owns a home or they might be renting a house. Another reason why a person or a family may rent a house is that they are new to a location because of a job transfer. Renting a residential property is more economical for most people.
Are you one of those who want to rent out your residential property because you need extra income? Renting out a house and letting somebody else live in your dream home is not for everyone. If you ever plan to rent out your residential property, make sure to consider the following points:
The Documents
Ensure that almost everything is recorded. It's essential to have a residential contract form wherein the regulations as agreed upon by the tenant and the lessee are clearly mentioned. This document also includes the property's address, tenant's details as well as the rent and payment information.
Cleanliness
Ensure that tips are well-established regarding cleanliness and maintenance of the house. Scheduled checks by the landlord are recommended.
Pets
Will you permit the tenants to keep pets in your house? Will their kids be permitted to have dogs? Birds maybe? Or cats? Whatever you decide, ensure that it is clearly mentioned or even documented and well understood by them.
Maintenance
If a fixture or part of your home was damaged during their stay, you should be able to identify what caused it: was it inaccurately utilized or was it due to natural causes? In this way, you'd know if you are supposed to pay for the repair or charge it to them.
Notices
The length of notice is important to both the property owner and the tenant. In case your tenants want to leave your home, you have to be notified in advance. The length of notice is a very important detail and must be included in your rental contract.
Payments
Identify a date when they should pay their rent. Make sure that a particular deadline is set for a rent to be regarded as late. Generally, landlords are allowed to charge a penalty fee for late rents. Deposits are required in most states. It will ensure that any damages caused by the tenants will be covered.
Furnishings
Is your residential property completely equipped? If not, what are the specific furniture that will be included in the rent out? Ensure that these details are included in your agreement, therefore when your tenants move out, you would know, what stays in your property.
The relationship between a tenant and a landlord starts after the agreement is signed. Most communities have their own housing rules. Those mentioned above are guidelines, that when considered, should turn into a smooth and long lasting relationship between you and your property owners.
