21. July 2015 05:28
There are varied reasons why homeowners may consider renting out their home. Whether it is due to relocation to another city, payment of a mortgage or to cover the cost of buying another house, renting is always a good idea to bring in additional income. However, a hassle free renting experience implies avoiding legal violations and knowing ways to attract quality tenants.
Here are some of the things that potential property owners must keep in mind in order to successfully rent out their home:
- Research Market Trends: Do a thorough research of the current rental rates in your area to determine the amount you can quote. Asking for a rent too high or too low could possibly be a deal breaker. Decide what all the rent will include, i.e. water and utility bills, landscaping, maintenance etc. You should also consider the amenities provided in the house while settling on a rent amount.
- Renovate: Before planning to rent your home, you must carefully seek any repairs or renovations that might be needed in the property. These may include looking for cracked windows, rusted doorknobs or handles, burnt-out light fixtures, damp walls or ceilings, pest infestations etc. Make sure you inspect each corner of the home carefully. You can also consider repainting to give a fresh look to the house.
- De-Clutter: Before the scheduled visit of potential tenants, you must clean and disinfect your home as much as possible. Wash the yard, patio, driveways and sidewalks to do away with all the stains. You should also empty the closets and remove your personal belongings from the house. Make sure that the home looks at its best before tenants arrive.
- Insure Your Property: You might also need to include your rental home in your homeowner’s insurance. This is important to safeguard your property in the event of damage due to flood, earthquake, water line burst etc. You can also choose to insure tenants’ personal belongings or necessitate a renter’s insurance policy before leasing the property.
- Hire A Property Manager: Professional property managers have complete knowledge about the entire renting process. They can help to search the right tenants and get the best possible rent for your property. The property management company will advertize your home for rent, screen potential applicants and assist you with lease preparation as well as other necessary paperwork.
For professional assistance in renting out your home in Killeen, TX, feel free to contact John Reider Properties at (254) 699 – 8300 or visit our office at 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548.
14. July 2015 12:14
Real estate investment comes with a huge set of responsibilities, both for residential and commercial properties. While it can be a great source of additional income, handling tenant complaints and managing the financial aspects can be quite overwhelming. Hiring property management services can be a big step towards making your rental business a success. A professional and experienced property manager can ensure that you get the best possible returns on your investment.
Here are some of the reasons that you should consider hiring property management services:
- Managing Workflow: Most property owners are not familiar with the efforts that go into owning and managing a rental business. Right from conducting frequent inspections to carrying out timely maintenance work, all these things demand a lot of time. Landlords who live in another city or have other important responsibilities may find it difficult to spare time for these jobs. A property management company provides an ideal solution to this problem by assisting you through every aspect of the renting process.
- Advertizing Proficiency: Finding reliable tenants for your rental home can be quite debilitating. A property management company has years of experience in leasing properties. Thus, they are aware of the most viable modes of advertizing in order to attract quality and long term tenants for your property.
- Knowledge of Local Real Estate: Overvaluing your rental home can be the biggest factor in driving away most potential tenants. Property managers have a good knowledge of the local real estate market and can help you get the best possible rent for your property.
- Financial Assistance: This is probably the most difficult aspect of renting a home. Majority of landlords feel exhausted to collect timely rents, maintain records and handle tax rebates. A property management company has precise systems to ensure timely collection of rent, transferring it into your bank account and providing detailed monthly reports of all financial transactions.
- Extensive Network Of Vendors: It is important that you hire credible and professionally skilled workers for the proper upkeep of your rental investment. A property management company has an extensive network of qualified vendors and contractors to get the repair work done at the most reasonable rates.
We, at John Reider Properties, provide complete property management services in Harker Heights, TX. We can help to keep your rental home in the best condition and reduce vacancy cycles for a consistent income. For more information, you can call us at (254) 699 – 8300 or visit our office at 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548.