Guidelines on how to lease out a house

A lease is a contractual agreement calling for the lessee (user) to pay the lesser (owner) for the usage of an asset.

Leasing your home depends on how hard you try to get the best tenants, the condition of your home and the area your home is located in. By fixing your home, getting it cleaned and painted will help you get tenants by creating a positive effect.

Get your home ready for lease:

Once you have decided to lease out your home, you should start repairing your house where it needs. It involves removal of items which are left in the home, repairing, and replacement of electrical and other objects, painting and cleaning. You may also enquire with the local housing authority to prepare a checklist of what home inspectors look for while they inspect your house. It will be easy to know what repairs need to be done.

Advertise:

The second most important step while leasing your house is to advertise your home. You can either approach a local advertising agency or keep a sign board in front of your home. Also check for rental listing at local agencies. Another effective way is by word of mouth by letting everyone know that you want to lease out your house.

Show your home to tenants:

If anyone is interested in your home and call you up to ask about the house, let them come and check out your house. Set a date and time for the meeting.

Do a background check of your tenants:

If you get someone who is interested in your house, make a rental application and the person fill it out. This will allow you to run a background check on the person. Ensure that you check his criminal record, credit report and also if he/she has been evicted in the past.