OwnerSecrets.com

I need to rent out my dad’s house in Tucson, Arizona. What do I need to do to rent out my house? What are the steps that I should take. Anything I should avoid? Thanks for all your help.

Well the marketing of your home is easy, use Craigslist. I would say that you should check references carefully and also do a credit check. You can have the prospect pay for the credit check when he fills out a rental application. Make sure that your rental application authorizes a credit check! Google the appropriate rental apps for your city and state.

Get the house clean and in good shape to rent. Clean the carpets, paint the walls, etc. There is lots more tips on how to rent out your house on this blog that you can search for.

If you’re in a hurry, hire a property management company to do it for you. They charge anywhere from 7% to 12% a month. A good property management company is easily worth the 10% a month fee. Tell the property manager that you want copies of the rental application, credit check, lease agreement, and any other letters and emails that are sent to and from the property but don’t tell them why just say you keep very good records. Once you get the copies, study them and learn the wording. After about a year, you can let go of the property management company and manage the home yourself. This is a great way to learn the ropes. You might decide after seeing all the work involved to retain the property management company.

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First impressions are so important when it comes to showing your rental home to a prospect.

Remember, your rental property isn’t the only one on the market. Your prospect has many options. You’re competing for the best renters with every other owner in the area that has a vacant rental property. You need to make a good first impression and you want to stand above your competition.

Part of making a good first impression is returning your prospects phone call as quickly as possible. The biggest mistake you can make when renting out your home is to not return prospect phone calls immediately. It is a big turn off to your prospect if they can’t reach you. Immediately they think that if you are hard to get on the phone now, what’s going to happen if you move in and have a maintenance issue? A very interested prospect will only call once or twice before giving up and moving on to another rental home.

Finally, you need to have your paperwork in order. Have your rental application and rental contract, with all addendums, ready for their review. The second biggest mistake you can make is to not bring your rental application and rental contract with you. If you tell a prospect who is interested in filling out your rental application that you forgot to bring it with you and that you will call him later when you find it, you will lose the prospect. You’ll call but the prospect will not call you back. He’s already gone on to another rental home.

In summary, first impressions are everything. Return prospect calls immediately. When you show your rental home, have a professional attitude. Wear professional clothing. Be organized. Bring your rental application and rental contract, with all addendums, with you.

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