So....you've just closed on your dream shore home and are thinking it would be nice to recoup some of those costs - or simply pay off your annual taxes, mortgage, and other home costs! Luckily for you, the Country to Coast Homes team is a one-stop-shop, and we'd be delighted to help you manage your rental from listing online to screening tenants to managing the headaches of leases and paperwork.
Before you bring in tenants, you'll need to make sure your home is ready to rent. Here are some considerations before that "For Rent" sign is installed:
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Inspect your home. Give your home a thorough once-over and repair any major issues. Address potential problem areas including roof leaks, sagging or clogged gutters, driveway cracks, leaky faucets or pipes, electrical outlets, and burnt-out light bulbs. Some towns require a special Certificate of Occupancy (CO) before you rent. Make sure to reach out to your Town Hall.
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Be aware of safety. Install smoke and carbon monoxide alarms. Consider putting fire extinguishers in multiple rooms; this will be part of your CO inspection as well.
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Clean your home. It seems obvious, but you should provide a truly clean slate for your tenant. Clean the floors, windows, and blinds. Shampoo any carpets to remove stains. Repaint walls with a neutral color to make the rooms seem cleaner and brighter.
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Evaluate any furnishings and appliances. If you have valuable furnishings or fixtures you don’t want stolen or damaged, remove them prior to attempting to rent. If you're providing a furnished home, make sure everything you provide is in working order. If you're providing appliances to your tenant, ensure they are in working order and are clean inside and out.
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Contact your mortgage and insurance companies. If you're still paying a mortgage on the home, your lender has certain rights to the home to protect its security interests. You should also switch your homeowner’s insurance policy to a landlord property insurance policy to cover any losses due to tenant’s negligence, natural disasters, fire or water damage.
If you're thinking of renting your home, our team would be happy to provide you with a complimentary - and confidential! - price opinion. Additionally, we have put together a checklist of the items you'll want to be sure to provide in your rental home (don't forget those WIFI instructions!). Feel free to reach out to us if you'd like a copy!