THINGS YOU SHOULD KNOW ABOUT RENTING YOUR FIRST HOME
Appearance
Your property should be in the best possible condition to attract a quality tenant. It needs to be either newly painted or the paint needs to be in good shape and few areas of touch up. Neutral colors for the walls and floors are the best. Blinds or shades are ideal window coverings, and not drapes. The carpets should be professionally shampooed. Tenants prefer hardwoods or vinyl laminate, so if the carpets need to be changed, consider going to a hardwood flooring. The inside should be “detail” cleaned, which includes unfinished areas of the home and the garage. The yard should be in good shape, bushes trimmed, edge the walkways, and beds weeded. Newly mowed and edged is a must! Consider planting a few decorative plants or putting planter pots on the front porch. First appearances go a long way.
Maintenance
Make sure to have the gutters cleaned and moss cleaned off the roof. Service the HVAC system and change the filters. If you have a working fireplace, the chimney needs to be cleaned. Check all appliances to make sure they are in good working order before a tenant moves in.
Pricing
The competition determines the competitive rental ranges for your home. A good property management company will conduct a thorough market study in order to set a rental price for your property. If the home is marketed too high, the home will be vacant longer. You also don’t want to market it too low. It is important to try and achieve a perfect balance between maximizing monthly income and maintaining a low vacancy rate.
Vacancy periods
Vacancy periods can be seasonally driven. Homes rent more slowly between November through February. Location and price can also affect vacancy.
No Smoking!
The residence should be non-smoking. A home that has been occupied by a smoker significantly reduces the marketability of the property.
Security
It is common practice to collect first month’s rent, security deposit and often last month’s rent up front.
Maple Leaf Property Management does business in accordance with the Federal, State and Local Fair Housing laws and welcome Persons of all Race, Color, Disability, Religious Creed, Ancestry, Sex, Familial Status, Sexual Preference, Gender Identity, Age and National Origin. We process applications and score is on the criteria described in this policy. We do not accept comprehensive reusable tenant screening reports.
