Two Tips for Those Who Want to Rent Out a Property

Posted on: 28 March 2018

If you have decided to rent out a property that you own, here are some tips that you may find useful.

Be careful about your choice of decor

It is important to be careful about your choice of decor, as the way in which you decorate your property will play a determining role in how quickly you manage to find tenants, as well as how easy it will be for you to maintain the house.

For example, it is generally best to opt for a neutral colour scheme (i.e., white, grey or cream-coloured walls and furnishings), as rental properties decorated in this manner tend to appeal to a wider variety of potential tenants.

Trendy, bold or bright colour schemes will not only reduce the number of people who may be interested in renting your property but will also date very quickly; as such, if you opt for these kinds of colours, you may find yourself having to incur the cost of redecorating your property again in just a few months' time.

It is also best to opt for low-maintenance decor; choose stain-resistant wall paint, and fit dark-coloured, short-pile carpeting (as stains are less visible on darker flooring, and dirt is easier to remove from short-pile carpet fabrics that from deep-pile ones). This will minimise the amount of time you have to spend deep cleaning the house after a group of tenants moves out of it.

Use the services of a real estate agent to find tenants

If you don't have a lot of money to spare, you might be thinking about trying to find tenants without the help of a real estate agent. However, if you want to find reliable tenants as quickly as possible, it is best to seek out assistance from a professional.

There are two reasons for this. Firstly, a real estate agent will have access to a variety of resources that will enable them to perform detailed background checks and to examine the financial statuses of potential tenants. As such, if you use their services, there is a much greater chance that you will end up with a tenant that is trustworthy, mature and financially responsible.

Secondly, many real estate agencies have a list of potential tenants on their databases, who are waiting for suitable rental properties to become available.

As such, they should be able to quickly and easily find a person who requires the exact type of property you want to rent out. Given this, it is entirely possible that you may be able to find a tenant just days after signing up with a real estate agency.