24. October 2015 14:42
Renting out a home is not an easy task, specifically if you do not have any knowledge about the real estate market. You need to have a detailed knowledge about the renting process and the landlord-tenant laws in your state. Although renting a home can be a profitable venture, dealing with the tenant screenings and property maintenance can be quite exhausting.
Here are some of the useful tips for first time renters.
- Be sure about your abilities: You must be very clear in your mind about how you are going to manage your rental property. If you have a full-time job or live in another city/state, taking care of tenant issues can become a bothersome task. So, you need to know if you will be able to handle the stress.
- Chalk out a financial plan: Once everything is set, make sure you chalk out a financial plan that includes the cost of renting and repair work (if any). Do a thorough research about the rent quoted by other similar rental properties in your area. You must also be familiar with the amenities desired by most tenants in order to increase the demand of your home in the rental market.
- Frame a suitable agreement: It is imperative to make a comprehensive and unambiguous tenancy agreement. This will ensure you do not have to face any legal trouble during the tenancy period. A typical lease can be up to 6 months or a year, however, you can customize it according to your requirements.
- Know about the taxes: According to the U.S. law, a landlord is liable to pay tax on his rental income. Before putting your property up for rent, you must be aware about the tax implications for the rent amount that you are quoting.
- Hire an agent: An experienced real estate agent can help you find a suitable tenant. They conduct thorough background checks to make sure you are letting your home to reliable people. They will also deal with the maintenance and repair requests of the tenants.
- Stage your home: Make sure you present your home beautifully in front of the prospective tenants. The outdoor area should be properly cleaned and kitchen as well as bathrooms should be disinfected. The furniture should be properly organized to give a spacious and neat look to the home.
We, at John Reider Properties, can assist you in renting your home in Killeen, TX. Our agents will advertize your property through effective channels to reduce vacancy cycles and increase ROI from your rental investment. For more information, you can call at (254) 699 – 8300 or visit our office at 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548
16. October 2015 10:56
When living in a rental home, you have to pay a fixed amount of rent, maintenance fees, parking charges etc. However, there are certain expenses, such as the utility bill, which you can deliberately cut down to manage your overall rental home costs. Reducing utility bills does not only benefit you, but also contributes to the society as a whole. You can take the initiative yourself or talk to the landlord about implementing these ideas.
Here are some tips that can help to reduce utility bills in your rental home:
- Lighting: You can consider using CFLs instead of regular light bulbs to illuminate your home. The can help you lower approximately 20 to 25 percent of your total energy consumption. Also, you must always turn off the lights whenever leaving a room.
- Use an automatic thermostat: You should buy an automatic thermostat that can adjust the temperature settings of your home on its own. Setting the thermostat on energy-saving temperatures can save a lot on utility bills. This is particularly important if you are going out of your home for a longer duration.
- Switch off electronic devices: Electronic devices have high energy consumption and therefore, it is imperative to use them wisely. There are many electronic appliances and gadgets that consume power even when switched off. You should make it a point to unplug all the chargers and adapters when not in use.
- Prevent heat from escaping: You should prevent the heat from escaping outside. Seal all the window cracks and door vents to prevent over-exhaustion of your heating system. Get a tight-fitting AC unit cover to insulate air conditioners from outside. This will keep your home warmer as the outside air will not enter your home.
- Open drapes during winters: During the winter season, you can take advantage of the natural heat. Open all the curtains and drapes to let natural sunlight come in. This will not only light up your home but also keep it warm. Similarly, you can do the opposite in summer season by closing the window shades and drapes.
- Laundry: Whenever possible, make use of cold water for washing clothes. Hot water heating requires a lot of electricity consumption and this can significantly increase your energy bills. Also, wash full loads of clothes to avoid wastage of water. Reduce the level of water if you have a partial load.
For assistance in searching affordable rental homes in Killeen, TX, contact John Reider Properties at (254) 699 – 8300 or visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548.