5 things to know before renting out a house

How do you find the right renting property and a landlord for yourself? If you are looking to rent out a house then getting the right property and landlord are of utmost importance. People rent out as they want the benefit of extra income to save money or pay down debt, or they may see it as an option to selling during a housing slump, a way to wait things out until the economy improves. Hence, it becomes imperative to know your landlords well before.

From considering your budget to look at for an appropriate area you need to check many things before renting out a house. Here are 5 things to know before renting out a house

Do some market research: Before finalizing where to rent out, make a market research on similar properties. A full analysis done by a professional can tell you the rent prices of similar homes in your area, as well as their market values. Basis on their findings make the final decision.

Enquire about your landlord: be fully sure about your landlord before shifting to a rented property. Ask neighbors or people around the building about the landlord and his/her property.

24*7 water supply and electricity: These two are basic requirements of any tenant. So before shifting do check whether smooth water supply and electricity back-up is there or not.

Availability of basic amenities: Make sure that basic facilities like schools, shopping centers, hospitals, etc..are nearby your house. Also, don’t forget to check how far is public transport like metro, bus/auto stand, etc. from your house.

Maintenance and other hidden costs: This is another big factor to consider. Check the amount of maintenance cost your landlord is asking apart from the rent amount.

One of the most significant things you do when you inspect an apartment you plan to rent out is not to let the looks deceive you. Look for the “hidden” traits and if there’s any damage ask for it to be repaired otherwise you may be blamed for it later.