If you’ve decided to rent out your Roseville property, there are a number of important steps you need to take before you can begin collecting rent from well-qualified tenants.
Here’s a brief list of the initial process. Things can get pretty overwhelming pretty fast. If you feel like you may not have the time, resources, or knowledge to handle these things, reach out to a professional Roseville property manager. We do this every day, and we know how to avoid the most common mistakes people typically make when renting out their homes.
These are some of your most important first steps.
1. Prepare the Property for the Rental Market
First things first, you have to get your home ready for the Roseville rental market. This means cleaning out any personal belongings that might be inside. Tenants want to move into an empty home that’s ready for all of their own belongings.
Conduct a thorough inspection of the property and make a list of anything that needs to be fixed or replaced. If your refrigerator is old and inefficient, replace it. If there’s a window that doesn’t lock reliably, make sure you put a new lock on it. Re-key the property for your future renters and have it professionally cleaned. You want to offer a well-maintained, attractive home to potential tenants.
Finally, price your rental home competitively. Pay attention to the market and evaluate the rental values for similar homes in your neighborhood.
2. Market Your Roseville Rental Property
Now that it’s ready for occupancy, you have to get the word out that you have a great home for rent. Take some professional-grade photos and write an accurate and detailed (but concise) description. List your property for rent on all the popular websites that people are using, including sites like Zillow and Zumper and Trulia and HotPads. Share your listing on social media.
Once you begin to have people calling or sending messages, be quick to respond. Tenants have a lot of choices, and you don’t want the best renters moving onto the next home on their list because you were difficult to get in touch with. Schedule showings, be available to answer questions, and encourage people to fill out applications.
3. Screen Potential Tenants
As applications begin to trickle in, you’ll need a plan for screening tenants effectively. Start by creating a written list of rental criteria so every prospective applicant will know what’s required to get approved for your property.
Ask every tenant 18 years of age or older to fill out an application. You’ll want to collect their social security number so you can run a credit check. You’ll also need information on employers as well as current and former landlords. Verify their income, look for past evictions, and talk to the rental references to get an idea of what it’s like to rent a home to this tenant.
Make sure you’re following all fair housing laws while screening tenants. You need to treat each application consistently and fairly.
4. Sign the Lease Agreement
Once you’ve approved a tenant for your property, you’ll need to find a lease agreement that’s legally enforceable in the state of California. Consider talking to a Roseville property manager when you need a lease that complies with the local and state laws. Discuss the lease in detail with the tenant. You want to make sure they understand your expectations, especially in terms of rent collection and maintenance reporting. You also want to give them an opportunity to ask questions.
Collect the security deposit and other move-in funds and make sure you and your new tenant signs the lease agreement.
5. Conduct a Move-In Inspection
Before you hand over the keys to your rental property, conduct a thorough inspection of your property. Document the condition with photographs, notes, and even videos. This is important because after your tenant moves out, you’ll need to compare the condition then to the condition now. This will help you distinguish between normal wear and tear and tenant damage. You’ll know how to handle the security deposit.
These five steps should set you up for a successful rental experience. If you’d like any help renting out your Roseville property, please contact us at Action Properties.