Tips To Get Maximum ROI From Your Rental Home

by Administrator 26. January 2017 19:54

When renting out a property in Killeen, TX, the ultimate goal of all landlords is to earn a significant and consistent profit from their investment. It is important that you use the right techniques to increase the demand for your rental home and live up to the expectations of the tenants.

Given below are some tips that can help you to get maximum returns from your rental home in Killeen:

Rent A Furnished Home

Renting a furnished home can be your best step towards securing a higher rent from the tenants. A lot of people, particularly students, short term renters and those who have recently moved to the city, look for furnished properties that are ready to move in. Having quality beds, sofas, dining room furniture, lighting, bathroom fittings etc. can seem to be appealing for the potential tenants. While furnishing the property, make sure you choose a modern and minimalist decor instead of going by your personal choices. This will make the property attractive to a broader pool of tenants.

Provide Some Additional Amenities

Besides the basic furniture and furnishings,you can even consider providing some additional amenities in your rental home. These may include electrical appliances such as refrigerator, cooking range, microwave, washer, dryer etc. If you have a patio or lawn, you can furnish these areas as well to create a comfortable seating area for the tenants or a place to host outdoor parties. Spacious wardrobes, cabinets, kitchen shelves, fenced yard, garage, security systems etc. are some other amenities that can increase the value of your rental home.

Invest In Home Improvement

Before showing your property to the potential tenants, it is advisable to invest in the necessary maintenance and repair tasks. Replace the rusty door knobs and handles as well as burnt out light bulbs. Mow the lawn, remove weed, trim overgrown bushes, clean the driveway and plant blossoming flowers to give an inviting look to the property. Look for any issues in the roof, basement and attic area as they may lead to major problems in the long run. You can also consider repainting the house if required. However, ensure that you invest in only those improvement tasks that can potentially increase the rental value of the home.

Install Energy Efficient Fixtures

You should focus on making your rental property energy efficient. Install advanced electrical fixtures and appliances that consume less electricity and help to reduce your utility bills. You can even invest in solar panels to further save on energy consumption. Making this initial investment will indirectly help you to retain tenants for a longer time and avoid the expenses of advertizing the property as well as finding new occupants again.

Allow Pets In Your Rental Home

Considering the shortage of pet friendly rental homes in Killeen, TX, it is a wise idea to allow tenants to bring their furry companions along. Renting to pet owners may decrease vacancy cycles as they are likely to stay for a longer period to avoid the hassles of moving and searching for another pet-friendly home. They may even be willing to pay a higher rent in return for a comfortable abode for their pet. If you are concerned about the damage that it may cause to your property, you can charge a security deposit and set guidelines about the type/number of pets allowed.

Increase Rent Strategically

Although setting a rent higher than the average market price may lower the demand for your home, keeping it the same for years can affect your revenue. You must follow a strategic approach so that you do not overcharge from the tenants and maximize your profit at the same time. The terms and conditions should be mentioned in the lease agreement, clarifying the time period and percentage with which the rent will be increased.

We, at John Reider Properties, can help you to get the maximum returns from your rental home in Killeen, TX. Our agents will guide you on the most effective strategies to set your property apart from the rest. For more information, you can call us at (254) 699 - 8300.

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Questions To Ask Your Landlord Before Signing Lease

by Administrator 20. January 2017 11:13

If you have found a perfect rental home, it is essential to sign the lease that states the important terms and conditions related to the rental process.  Make sure you read the agreement carefully before finalizing the deal. Preparing a list of questions will be beneficial in solving all your queries.

Let’s take a look at some questions which you should ask before signing the lease

How do I pay the rent?

Make sure you ask the landlord about the rent payment options. Most of the landlords have switched to online methods. You should confirm it before moving in the rental home. Choose the option which suits you the best.

What does the rent include?

You should know if the amenities such as electricity, water, gas etc. are included in the rent. Some homeowners even provide internet and cable facilities. In case, the rent is not inclusive of these facilities, ask your landlord about the extra charges required.

Are pets allowed?

If you are planning to bring your pet along, ask the landlord about any terms or conditions that may be applicable. Some landlords follow a restrictive or no pet policy for their rental home. That is why, it is important to get it cleared before signing the lease. In case the landlord has a pet-friendly home, make sure you read the guidelines regarding the type, size and number of pets allowed. Also ask about the pet deposit charged by the landlord.

What is the lease duration?

Asking about the duration of the lease is essential. You should know whether it is a short or long term rental agreement. In some cases the landlord might be interested in signing a two year lease. So, it is better to confirm beforehand. You can also inquire about the lease renewal policy as some landlords wish to sell their property once the term has been completed. This will help to avoid disputes later.

Are all the appliances working properly?

When you are renting a furnished home, it is important to check the working conditions of all the appliances such as washer, dryer, microwave etc. Ask the landlord if the electrical fittings are energy-efficient. Also ascertain that the plumbing fixtures are not leaking.

What’s the late fees policy?

Most of the homeowners allow residents to pay the rent until the third or fifth of the month. Ask your landlord about the due date and any late fees policy. This can help you to avoid penalties and the risk of eviction.

What is the guest policy?

As a tenant, you must clarify with your landlord about the guest policy. You must know how many people can live in your rental home and for what duration. Ascertain that the clause is mentioned in the rental agreement.

Is renters insurance required?

Having a renters insurance can help to protect your valuable assets and personal belongings. You should ask your landlord if it is necessary to get insurance before signing the deal.  Also inquire if his homeowners insurance policy covers the rental property as well.

What are the safety measures in the home?

Having safety measures in your rental property is very important. You should know if the house has CCTV cameras or double door locks. You can even ask the landlord if anti-theft devices and alarms have been installed.

Can I makes any changes to the apartment?

You must discuss about the changes which you can make to the apartment. Ask if you can repaint the walls or make any other renovations in rental home. Also clear your doubts regarding maintenance and home repairs.

Is there any parking space in the rental home?

You should know if the rental home has a garage or parking space available.  It will help to keep your vehicles safe.

We, at John Reider Properties, provide a wide range of rental homes in Killeen, TX. The agents will answer all your queries and provide complete guidance in renting a property. For more information, you can call at (254) 699 - 8300 or visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548. 

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