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Tips on Renting Your Home

(Source) Renting out your property can be a great source of income, but you should make sure you’re prepared to take on such a responsibility. Here are some basic tips on renting your home, as well as some excellent resources to help get you started, including all the forms you’re going to need. Get references. This might seem like a no-brainer, but you should take it a step further than just calling the current landlord of the potential tenant. Ask the potential tenant for the contact information for  a few past landlords. The current landlord may be itching to get their tenant out so their “recommendation” could be dishonest. If you check with previous landlords, you could get a more honest opinion. Make sure you’re ready. Renting your home isn’t as simple as collecting a cheque at the end of the month. You, as the landlord, will have several responsibilities including safety and repair maintenance and upkeep of the home. To learn more, click here. Increase the rent for pet owners. Even if the potential tenant promises their cat or dog is well behaved, you shouldn’t take their word for it, or you could be the one who pays for it later. Even well trained pets can track mud in the house, stain carpets, have accidents, scratch the floors with their claws … you get the picture. If you’re not completely opposed to the idea of allowing pets, you should consider increasing the monthly rent by $25 or so, to help compensate for any clean-up or repairs you may need to make when the tenant moves out.

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