Converting a Home into a Rental Property

Are you preparing your home to be a rental property.  We have listed a few steps in the process you should complete first.

If you are having a difficult time selling your home or other property, renting your property is an excellent way to make a profit, take advantage of tax benefits, and assure maintenance of the property. You have a few important things to do before you rent your property vs selling it.  This list will help you prioritize your efforts when turning your home into a rental property.

Personal Property

Remove all of the stuff you have been storing in the property. Generally, if personal property is in the home or on the grounds, it is considered part of the lease and subject to tenants’ use. Think about what you want or need to leave for tenants’ use.

Clearing out nonessential clutter will improve the appearance of the property for advertising photos and will make it look better for showings.  It is usually best to have the property empty before showing the home.

Clean, Clean, Clean

Once all of your stuff is removed, begin the cleaning process. You may need to hire professional carpet cleaners and a house cleaning service to get the work done is a reasonable time. Dust bunnies, dirty windows, and soiled carpeting will turn off most responsible tenants and give you a reputation as a slumlord.

An immaculate home will give the most positive impression, attract the best renters, provide the highest rent, and will be the easiest to evaluate when the tenants move out.  At Real Property Management East San Gabriel Valley we make sure tenants are aware of the standards to professionally clean when they vacate the property too.

Curb Appeal

Your property should be as attractive from the road as possible, and minor inexpensive cosmetic touch-ups will enhance your property. Clean out the weeds from the flowerbeds and fence line, trim the grass, and wash the siding.

Painting the entryway walls and oiling the woodwork will add an attractive sparkle to your home and make it appear new and bright.

Maintenance

Try to imagine looking at your home for the first time. Would you want to live there? Are there curling shingles on the roof, broken windows, leaking faucets, peeling wallpaper, or door locks that do not work?Make sure that the appliances, heating and ventilation systems, and plumbing fixtures check out and are clean.

Code Compliance

Sometimes it is worth it to hire an inspector to come check out the property. He will then assess all systems of the property to make sure they are up to code. This assurance will be welcome news.  At Real Property Management East San Gabriel Valley in Pasadena we know of all the code requirements and things that are required in a home before renting.

Landlord Insurance

Your rental property is an important investment and source of income. If there were a kitchen fire or storm damages, your home may become uninhabitable. Landlord insurance coverage helps provide an income while the property is being repaired or rebuilt. You can add policies or riders to pay for debris removal, tree and plant replacement, and even fire department charges.  We also can require tenants to get renters insurance to cover their own personal property or accidents.