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Whether you have decided to invest in the property market or have become ‘accidental landlords’, it’s important that you know the in’s and out’s of what it takes to prepare your home to rent to ensure the process has no faults.
Follow our top tips below on how to prepare your home to rent:
Inspect your home
Before anything is set in stone you need to inspect your property to make sure a tenant will want to live there. You can do this by cleaning up, looking at the safety of the property and deciding what you will be taking with you.
One of the most common reasons a renter may change their mind about living in a property is if it’s unclean. Make your home look like new, clean the floors, furniture and windows. Paint the walls and make each room look brighter. Although you need to choose the right tenant to live in your property, it’s important to make sure that whoever views your home will actually want to live in it otherwise you may never be able to rent it.
Look at safety
It’s important that you tenants feel safe while living in your property and it is your legal responsibility to make sure your home is safe. Ensure all smoke and carbon monoxide detectors are working and equip the kitchen with a suitable fire extinguisher and make sure no electrics are faulty.
Decide what to take and what to keep
If you decide to take some major home appliances make sure that you tell your tenant before their move in. This gives them enough time to replace any essential appliances such as cookers or furniture so they don’t become stuck when the time comes to move in.
How to manage renting your home
Are you planning to rent your property alone or take some expert property management advice? If you are planning to rent your self make sure that you secure a legal lease document for the tenant to sign which you can later refer to.
If you are looking to hire a property management company they usually charge between 4% to 12% of the monthly rent of their services.
Screen Tenants carefully
One of the most important things to do when preparing your home to rent is to screen all possible applicants to make sure you choose a reliable tenant which will pay the rent each month on time.
Some questions you should ask are:
- Why are they moving?
- When do they plan to move in?
- Can you get references from a previous landlord? – You can ask previous
- landlords if the possible tenant was late paying the rent and if they kept the property in good condition.
- Will they give consent to running a credit check?
- How many people will be living in the property?
If you are looking to rent property in Montreal, Landmark group are expert Montreal Real Estate Agents that are here to help! For more information, check out all of our latest properties to rent HERE>