Top tips for renting out your home in Surrey.
Thinking about renting your Surrey home is a big decision and can seem like a daunting task, but it can be a great way to get an additional income each month. However, if the correct processes are not implemented, it can turn into a very stressful experience. At Park and Bailey, we have come up with some top tips to help you rent your property successfully.
Make your house a home
Due to the amount of rental properties currently on the market, the expectations of people looking to rent homes is high. Being a landlord is a big responsibility and making your house an attractive place to rent means making sure it is clean, any issues are fixed and it is ready for people to move in! Consider repainting the walls, neutral colours are easier to work with and make rooms seem bigger and brighter.
Think about furnishings
When renting your property remove fixtures and furnishings which are of value to you. If you decide to leave appliances such as microwaves, washing machines etc. Make sure they are safety checked and in good working order, a furnished property allows you to boost the rental cost.
Managing the rental
Drafting a legal lease document yourself can be complex and time consuming, so why not leave this to the experts. At Park and Bailey, we offer three levels of service including Let Only, Rent and Collect & Managed.
Contact your insurance company
Let your mortgage and insurance company know that you are renting and won’t be living in your house anymore. Switch your homeowners insurance policy to cover the losses made by a tenants carelessness, natural disaster or water damage.
Work out the market value
Work out the monthly cost and compare with similar rental properties in your area to determine the price you can charge for renting out your home. When posting your add, don’t forget to add quality pictures which show off the property and highlight unique features. Also, emphasise any advantages of your home and the surrounding area, such as being close to a school, train station or town which can increase what people are willing to pay monthly.
Hire the experts
The rental process can be time consuming but worth it in the long run, if your short on time hand it over to the specialists. At Park and Bailey we aim to relieve the complexities that can arise from renting your property, enabling you to enjoy the benefits! If you are prepared to rent and handle your property yourself, come to us for advice or assistance to ensure you are abiding by tax laws and other property rules and regulations.
For more information about the services we offer for rental properties and receive our Landlords brochure, go to our website.