Steps To Renting Your HouseBecause of the state of the real estate market, many homeowners are becoming landlords. Many aren't interested in selling their homes in a market that keeps declining. After all, the prices are down 50% and in some parts of the country even more. So, if you're thinking of turning your home into a rental unit, then the Raleigh movers, your local Raleigh moving company, have a few suggestions on how to do that.
First you need to start updating your home. It's the responsibility of the homeowner to provide a safe and healthful home to the tenants. According to MSN.com, the city will likely require an inspection of the property before it can be rented out. This means, you have to make sure that the house is up to code. Here are some things you can do to prepare: Clean the house, paint the rooms, remove valuables, make sure the home is fireproof with detectors, take care of the plumbing and leaks if there are any and installing low-flow shower heads is a good way to cut down on water usage.
Secondly, you’re to call your mortgage company to advise them that you're no longer living in the home. The reason behind this, is the mortgage company will have to grant you permission to rent out your house. There might be a small fee involved as well, according to MSN.com. Also, don't forget to change your home's status with your municipality.
Now comes the insurance part. Before your new tenants can move in you must have landlord property insurance. This insurance is specifically for renting out your home. Don't be mistaken, it's not the same as your current insurance policy, this landlord policy is going to cost you more. You also have a big decision to make when you rent out your house. Will you be the property manager or hire a company to do it? By doing it yourself, you're going to save some money, but you'll pay for it with stress and time. Property-management firms usually charge approximately 10% of the monthly rent for their services. They handle everything for you, from finding the right tenants to collecting the rent. Some people find it's worth it to pay these property-management firms simply for the convenience and having the responsibilities off their plates.
Whether you're renting out your home or buying a new one, make sure to call the Raleigh movers to help you move. Raleigh, North Carolina has been ranked one of the best places to raise a family. Our Raleigh expert movers will provide packing and unpacking, and they'll quilt pad wrap your belongings so they'll never get damaged. Our local Raleigh moving specialists have been supplying the Raleigh area with award-winning services for over 20 years! Call our certified moving consultants today at 919-875-1700 and experience the best move of your life.