There are so many things people are able to do now they weren’t able to do before. It’s easy to just hop online and get the answers you need. Whether you want to learn how to change your own oil or learn how to knit, there’s a number of videos available to choose from. While the internet has made so many previously difficult skills easy to learn, some things should be left to the professionals, such as renting out your home. Thinking of managing your own rental? Proceed carefully.......
The 4-minute video below discusses the Top 10 HUD Fair Housing Mistakes made.
Stars & Stripes Homes, Inc. is well versed in all there is to know about renting, and in the end, can help to make you more money than you could get on your own. Take a few things into consideration, such as:
1 - Charging the Right Amount for Rent
A property management company has immediate access to information on current rental rates and will know exactly what you should be getting for your rental. The market is hot right now and some people believe that renting should be cheaper than owning; that’s not always the case. Make sure you’re getting top dollar by using a professional who can take a look at your home and any amenities, assess the neighborhood, and determine what price you should be getting.
2 - Determining the Best Renter
Unless you’ve been dealing with rentals for years, it’s hard to know who to rent your home to. A simple credit check doesn’t always do the trick of weeding out the good from the bad. A property management company will take the time to look into the renter’s history, do a credit and criminal check, verify employment, and contact former landlords. This helps them to flesh out any problems and ensure your home will be taken care of by choosing the best tenant possible.
3 - Managing Relationships
In addition to managing the tenant relationship, a property management company will also manage relationships with vendors in case the home needs emergency maintenance or if there are any contractors that need to be brought in. They also manage a relationship with the renter and are there to help if there is any type of conflict.
4 - Staying Compliant with Local, State, and Federal Laws
When it comes to renting, there are numerous rules that must be followed. Each city and state is different and can have their own rules. Federal rules deal with fair housing under the Americans with Disabilities Act (ADA). To stave off any potential lawsuits, it’s imperative to comply with all rules and regulations. A property management company is knowledgeable about laws and regulations where your home is located and can guide you to avoid any potential problems.
5 - Increasing Your Enjoyment
Managing a property yourself takes a lot of time and energy that could be spent on more important things. Freeing up the hassles of property management to a professional company means more time for advancing your career, spending time with loved ones, or just enjoying life. When you let a property management company like Stars & Stripes Homes, Inc. do the work for you, you can rest assured you’re placing your investment in good hands that will free yours up, letting you lead the best life possible.
You can easily go online and find contracts and information about renting out your house, but this is one time you might want to think about leaving the job to a professional management company like Stars & Stripes Homes, Inc.