{"id":9906,"date":"2018-08-04T15:15:55","date_gmt":"2018-08-04T22:15:55","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9906"},"modified":"2018-07-28T08:53:53","modified_gmt":"2018-07-28T15:53:53","slug":"tips-to-help-make-the-home-rental-a-success","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/tips-to-help-make-the-home-rental-a-success\/","title":{"rendered":"Tips to Help Make the Home Rental A Success"},"content":{"rendered":"<p style=\"text-align: justify;\">Renting out your home is a great way to make some money and help pay down your mortgage. Read on to learn 10 tips to help make your home rental a success.<\/p>\n<p style=\"text-align: justify;\"><strong>1. Screen Tenants<\/strong><br \/>\nIf you\u2019re letting people into your house, obviously you want to screen them. This can involve asking questions, checking references, and reading reviews (if using a rental site that offers them). Letting strangers into your home can be a bit nerve-racking, but a robust screening process should alleviate most of your concerns.<\/p>\n<p style=\"text-align: justify;\"><strong>2. Set a Competitive Price<\/strong><br \/>\nDetermine the right amount of rent. You obviously need to get enough to make it worth your while, but you also need it to be competitive. Check out comparable rentals in the area and find out what they\u2019re offering.<\/p>\n<p style=\"text-align: justify;\"><strong>3. Protect Yourself With a Lease<\/strong><br \/>\nDepending on what you\u2019re renting out \u2013 an income suite for a year, your home for the weekend, etc. \u2013 you\u2019ll want to make sure you\u2019ve got some type of agreement or lease. Some rental websites have standard lease agreements, while others allow the homeowners to set their own terms and conditions. Do your research and get a legal document in order.<\/p>\n<p style=\"text-align: justify;\"><strong>4. Top Up Your Insurance<\/strong><br \/>\nRenting out your home has an effect on your insurance. Make sure you\u2019ve topped it up appropriately. Usually this means getting a different policy, and depending on what or how you\u2019re renting, getting a new policy may not necessarily be the case. So talk to your insurance agent about what you need.<\/p>\n<p style=\"text-align: justify;\"><strong>5. Make Minor Upgrades<\/strong><br \/>\nYou may not be in the market for a big renovation, but make any minor upgrades you need to in order to make the place look and feel more appealing. You might want to upgrade a countertop, faucet, or even the lighting. Repair any cracks and tighten hardware. Perhaps a new front door is a good idea. The idea is to improve the value of your home and make it more appealing to renters without overextending your pocketbook.<\/p>\n<p style=\"text-align: justify;\"><strong>6. Put Away Valuables<\/strong><br \/>\nNo matter how much you\u2019ve screened tenants, you still want to make sure you\u2019re putting away any valuables or important items. No matter who rents your place, accidents happen and things get broken. Protect the things you love by putting them behind locked doors if you can.<\/p>\n<p style=\"text-align: justify;\"><strong>7. Prepare the Furniture<\/strong><br \/>\nIf you\u2019re renting out your furnished home, make sure you protect it appropriately. Consider a stain-repellent on fabrics, and think about slipcovers for sofas and chairs. Washable fabrics and easy to clean floors are always the way to go!<\/p>\n<p style=\"text-align: justify;\"><strong>8. Clean Up<\/strong><br \/>\nYou\u2019ll definitely want to clean up before a renter arrives and if you can make it work with your budget, I would recommend hiring a professional \u2013 particularly if you\u2019ve got a vacation rental and\/or a lot of turnover. A professional housekeeper can provide some peace of mind that everything is in tip-top shape, and it will save you time \u2013 especially if it\u2019s a vacation property that isn\u2019t close to your primary residence.<\/p>\n<p style=\"text-align: justify;\"><strong>9. Understand Your Responsibilities<\/strong><br \/>\nThere are certain rules and responsibilities you have to adhere to, as the owner of the property, when renting out your house. Make sure you know what they are before you sign an agreement.<\/p>\n<p style=\"text-align: justify;\"><strong>10. Plan for Emergencies<\/strong><br \/>\nYou never know what can happen to your property, so make sure you\u2019re ready for everything. Have an emergency fund ready, and also have a list of tradespeople you can call in case of an emergency. Also make sure you\u2019ve got a list of emergency contacts in the residence, and let the tenants know where it is.<\/p>\n<p><a href=\"https:\/\/www.hgtv.ca\/real-estate\/blog\/10-tips-for-any-homeowner-looking-to-rent-out-their-home-1919194\/\" target=\"_blank\" rel=\"noopener\">10 Must-Know Tips for Homeowners Looking to Rent Out Their Property<\/a> by Scott McGillivray | HGTV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renting out your home is a great way to make some money and help pay down your mortgage. Read on to learn 10 tips to help make your home rental &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/tips-to-help-make-the-home-rental-a-success\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-9906","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tips to Help Make the Home Rental A Success &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/tips-to-help-make-the-home-rental-a-success\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Tips to Help Make the Home Rental A Success &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Renting out your home is a great way to make some money and help pay down your mortgage. 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