What you Need to Know about Renting your House

Many people make the decision to rent out their home with high hopes of easily finding a wonderful tenant in a short period of time. For a lucky few, this thought becomes a reality, but other property owners find that renting out a home takes a bit more effort. There are some things you can do to make the process of finding a tenant easier and to ensure you and the tenant both have a pleasant rental experience overall.

First, make sure the property is in pristine condition before showing it to any tenants. This may include putting a fresh coat of neutral paint on the walls, steam cleaning the carpets, and tending to yard maintenance, too. Some potential landlords have the desire to show a property and only do make-ready work that a tenant may request, but many renters have trouble envisioning what a property may look like once the make-ready process is complete. So it’s far more beneficial to you to delay showing the property to a potential tenant for a few days while you tend to these tasks on your own.

Once you have a potential tenant lined up, your next task is to work on getting that ever-important lease signed. You will want to do a credit history and rental history check on your potential tenant before signing a property over with a formal lease agreement. Also, in the lease agreement, make sure you specify issues such as when a pet deposit or security deposit may be forfeited, the requirement of the tenant to carry renters insurance from a company like RentersInsurance.com, and other key issues that are important to you. These tips can help to ensure that you not only find a great tenant to lease your property but also that you and the tenant both have a pleasant renting experience, too.

Written by Canadian Home Trends

Canadian Home Trends

Canadian Home Trends magazine gives you a personal tour of the most stunning homes and condos across Canada. You’ll be inspired by a selection of accessible home décor products, trend reports, simple yet stylish DIY projects, and much more. In each issue, you are given the tools to recreate designer spaces you’ve always dreamt of having at home, in-depth renovation and design advice, colour palette and furniture pairings, and Canada’s best places to shop.

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