Posted on July 7th, 2009 No comments
The biggest challenges landlords all across America and in most other parts of the world face are vacancies. Vacant houses translate to lost revenues because, as one might expect, vacancies do not bring in rental money. What’s more, vacant homes force landlords into quick action with a long list of to-dos in hand and that means extra expanses.
So you may be asking yourself “what steps should I take to rent my house”. Let us now take a close look at all that is involved when a homeowner finds him or herself facing a vacant house. Besides going through the closing transaction of (depending on the particular circumstances) refunding or retaining the security deposits which were submitted when the tenants first signed their rental contract / lease / agreement, landlords must also:
- Inspect the unit for anything that is broken, that is missing and that is damaged.
- Fix anything that is broken, mend anything that is damaged and replace anything that is missing.
- Put on a fresh coat of paint.
- Perform a thorough cleaning.
- Possibly add renovations to increase the value of the newly vacant unit and the entire property.
Following are the most frequently used methods for advertising your house rental:
Internet. In today’s hi-tech world, everybody turns to the Internet for commerce, for information and so on. It’s important to get your house rental on as many rental directories as possible. RentShout.com is a service that can help you with this.
“For Rent” signs. Posting signs in front of your house is an advertising option that is time-proven as it’s been around for many years. It is easy, it is virtually cost free and it works because many potential renters like to drive around neighborhoods to scope out the community and will, inevitably, be alert by such signs.
Box with flyers. Print up informative rental flyers and place them in a box attached to a post in front of your house.
Bulletin boards. Posting flyers on communal bulletin boards at supermarkets, colleges and other public places has proven to be very effective and very inexpensive.
Referrals. Acquiring potential tenants through referrals from friends, relatives and existing tenants usually results in very successful.
Submitting ads. Submitting ads in the classified sections of local and national newspapers may involve a substantial expense but it will widen the pool of applicants.