Renting your home can sometimes be a more attractive option than selling it—perhaps you’re only moving away for a short time or maybe you’re waiting for the real estate market to turn around in your area before you sell. Whatever the reason, before you join the time-honored (or perhaps long-feared) rank of landlords, you should know about a few people who can make your transition much easier.

Home Inspectors

Just like when you are buying a house, it is wise to have a certified engineer inspect your house before you put it on the rental market. The report you get from a home inspector will allow you to fix potential problems before new renters move in. It can also help you plan for future repairs and help you avoid litigation.

Tenants

Choosing the right tenants can make or break your experience as a landlord. It is wise to do a background check on potential tenants. You can get to know them by interviewing them in person and even by talking with their former landlord, if they have one. You can also ask them for references who can testify to their reliability, honesty, and other qualities that make good tenants. If you’re concerned at all about whether you’ll be paid, do a credit check as well.

Property Managers

If you aren’t interested in having to personally evict tenants or will simply be living too far away to manage the property yourself, hiring property managers will make your life much easier. A property manager is a person or agency that will act as a middleman between you and your tenant, collecting rent, responding to maintenance and repair issues, and handling legal claims. When chosen carefully, this team of people can make your time as a landlord a smooth ride.

Posted in Uncategorized by admin at July 13th, 2010 | No Comments »