The most important part of renting out your home is to find someone (or more than one person) to rent it! But finding the right candidate(s) can be an extensive process, because you don’t want just anyone off the street occupying your valuable property.
If you’re getting ready to be a landlord, whether by accident or conscious decision, the following information will help you find (and keep) the right tenants.
In today’s digital age, the Internet has become the most effective means of advertising rental properties. And while there are free Internet sites available to promote your property, they can make users prime targets for scams that can put you and your personal information at risk. Using paid sites such as Rentals.com, Zillow, and Trulia will help attract renters who are looking for legitimate listings. It’s also important to include location, price, square footage, updated photos, and special features such as a garage or outdoor space in your listing information. Provide a way for potential renters to contact you so they can ask questions upfront, which will be helpful for them but also will indicate to you who is a serious candidate.
Research the Law
If you don’t know what you’re getting yourself into as a landlord, it’s imperative to learn the federal and state rules and regulations, specifically the Fair Housing Act, prior to making a legal contract with a tenant. Otherwise you might be faced with a lawsuit if you unknowingly choose or deny a candidate based on certain factors. The U.S. Department of Housing and Urban Development website provides detailed information on the laws you need to keep in mind as a landlord.
Conduct Rental Applications/Background Checks
If you were an employer, would you hire someone without checking out his or her criminal history? Probably not. So as a landlord, why would you not inquire about a person’s background who could potentially occupy your home? Rental applications and background checks are a necessary step to protect yourself as the owner of a home. The results show if the candidate can afford the rent, if they’ve ever been evicted, and their rental length in other properties. While a clean background check does not guarantee a renter will treat your property with respect or not pay the rent, it does reduce the likelihood that you will have to worry as much.
Require Renter’s Insurance
Make sure your tenant knows you will require they show proof of renter’s insurance when they move in. Having this policy protects their belongings, and protects you from having to replace them or front the cost in the event of a fire or home break-in. There are exceptions to renter’s insurance policies, so make sure to familiarize yourself with the rules and regulations and what type of coverage the renter purchases. It’s your responsibility to protect yourself in a rental situation, so do everything you can upfront to put your mind at ease.
Finding a qualified renter for your property may take a bit of time and effort, but the reassurance you’ll feel from doing your research is worth it. If you need more guidance for renting out your property, The Adler Home Team would be happy to help!
About the Adler Home Team
When looking to buy or sell in Northern New Jersey, you may rely on The Adler Home Team and their intimate knowledge of the distinct communities throughout the region.Jeff & Debby Adler continue to lead with contribution and have served over 1,100 families in their 20 year experience in Northern New Jersey. Through their combined efforts, this team of eleven professionals is very diligent in serving a full array of clients from first time buyers to those seeking their expertise in Residential, Condos, Townhomes,Luxury, New Construction,Relocation, Short Sales, Foreclosures and Rental Properties.By accessing the very best in technology, current market data and creative marketing applications, The Adler Home Team takes every measure to ensure that their clients are educated and provided with the critical insights that meet their specific requirements. They teach, lecture and train at the national level on negotiation skills, marketing and team building. The Adler Home Team is most proud and thankful for their strong referral business that confirms their talents, creativity, professionalism, diligence, knowledge, and outstanding integrity. The Adlers look forward to forming a partnership with their clients to help them reach their goals and make smart business decisions. So, when it comes time for you, a friend, or a family member to make a move, trust the Adler Home Team to win for you. Google View all posts by The Adler Home Team →
Author:Jeff Adler Phone: 201-819-3309 Dated: September 28th 2015 Views: 339 About Jeff: When looking to buy or sell in Northern New Jersey, you can rely on The Adler Home Team and their in...
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When you are putting your home on the market, you will likely be look
"Hi, we are Melissa and Chris. We live in Ramsey, NJ. We purchased our house about 10 years ago. We were brand new to the home buying process and we were very grateful that we stumbled into Debby and Jeff Adler’s office because they took us throughout Ramsey that day. Showed us the area and eventually found us the house that we purchased. Then they held our hand and went through the whole purchasing process, understanding what we needed to do when we needed to do it. We found our home and we moved into it a few months later. We are still here and we’ve been happy ever since. Thanks to Jeff and Debby Adler. We would recommend them to anyone who is interested in purchasing a home or is looking around in the area, to help them in their home buying process."